Enterprises, cooperatives and households will be supported with loan interest rates from the state budget at 2%/year until the end of 2023?
Principles of interest rate support from the state budget for loans of enterprises, cooperatives and business households?
Pursuant to Article 3 of Decree 31/2022/ND-CP stipulates as follows:
“Article 3. Principles of interest rate support
1. The interest rate support must be public, transparent, right for the right subjects, for the right purposes, and to avoid taking advantage of policies.
2. The State budget shall fully and promptly allocate funds for interest rate support for commercial banks to provide interest rate support to customers.
3. Commercial banks provide interest rate support to ensure compliance with regulations, creating favorable conditions for customers.
4. The customer has the ability to repay the debt, has the ability to recover according to the internal assessment of the commercial bank, uses the loan capital supported with interest rates for the right purposes, and is responsible for coordinating with the commercial bank. implement interest rate support.
5. The interest rate support applies to the interest payment obligation at interest payment terms that arise during the period from the effective date of this Decree to December 31 of this year. 2023.
6. Commercial banks will stop providing interest rate support after December 31, 2023 or when the announced funding (interest rate support limit) is exhausted, whichever comes first.”
Accordingly, the interest rate support is only applicable to debt repayment obligations arising in repayment terms from May 20, 2022 to the end of December 31, 2023. From January 1, 2024, commercial banks will stop providing interest rate support, in case the funding source (interest rate support limit) is announced to have expired before January 1, 2024, it will also stop providing interest rate support. capacity.
Enterprises, cooperatives and households will be supported with loan interest rates from the state budget at 2%/year until the end of 2023?
What conditions must enterprises, cooperatives and business households meet to be eligible for loan interest support?
Pursuant to Article 4 of Decree 31/2022/ND-CP stipulating:
“Article 4. Conditions for interest rate support
1. The customer has requested interest rate support, meets the loan conditions in accordance with the current law on lending activities of credit institutions, foreign bank branches to customers.
2. Interest-supported loan is a loan in Vietnam Dong, signed a loan agreement and disbursed during the period from January 1, 2022 to December 31, 2023, using the correct capital. purposes specified in Clause 2, Article 2 of this Decree and have not been supported with interest from the state budget under other policies.
3. The loan may not continue to receive interest rate support in the following cases:
a) Loans with overdue principal balance and/or late payment interest balance are not eligible for interest support for the interest payment obligation at the interest payment term but the time of repayment is within the specified time period. overdue principal balance and/or late payment interest balance. The loan can only continue to receive interest support for the next interest payment terms after the customer has fully paid the overdue principal balance and/or the late payment interest balance.
b) Loans with debt extension are not supported with interest for the debt extension period.”
Thus, in order to receive interest rate support, businesses, cooperatives and households must ensure loan conditions in accordance with current laws. In addition, when applying for interest-supported loans, they must sign a disbursement agreement between January 1, 2022 and December 31, 2023 and use the capital for the purposes specified in Clause 1 of this Article. 2 Article 2 of Decree 31/20222/ND-CP and the borrower must be the object of not yet receiving subsidy from the state budget according to other policies.
How much is the loan interest rate support?
Pursuant to Article 5 of Decree 31/2022/ND-CP stipulates as follows:
“Article 5. Term and interest rate support
1. The term of interest support is counted from the date of loan disbursement to the time when the customer pays off the loan principal and/or interest as agreed between the commercial bank and the customer, in accordance with the support funding source. interest rate subsidy announced, but not beyond December 31, 2023.
2. The support interest rate for customers is 2%/year, calculated on the loan balance and the actual interest rate support loan term is within the period specified in Clause 1 of this Article.”
Accordingly, the loan interest rate support period will be calculated from the date the lending bank disburses to the date on which the enterprise, cooperative, or household pays off the principal and interest on the principal amount. According to the agreement, it is noted that the interest rate support period must not exceed December 31, 2023.
In addition, the interest rate supporting loans from the state budget for businesses, cooperatives and households is 2% per year, this interest rate is calculated on the loan balance and the loan term. loans with real interest rates.
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