Who is entitled to interest rate support in Vietnam from the state budget for loans of businesses, cooperatives, and business households? What are the conditions for support?
- Who is eligible for interest rate support in Vietnam from the state budget for loans from businesses, cooperatives, and business households?
- Principles of interest rate support in Vietnam from the state budget for loans of businesses, cooperatives and business households?
- Conditions for interest rate support in Vietnam state budget for loans of enterprises, cooperatives, business households?
Who is eligible for interest rate support in Vietnam from the state budget for loans from businesses, cooperatives, and business households?
According to Article 2 of Decree 31/2022/ND-CP stipulating the subjects of application of this Decree, in which the subjects eligible for interest rate support in Vietnam state budget for loans of enterprises and cooperatives , business households include:
Enterprises, cooperatives and business households are entitled to interest rate support (hereinafter referred to as customers) in one of the following cases:
+ For the purpose of using loan capital in one of the registered business sectors specified in the Prime Minister's Decision 27/2018/QD-TTg dated July 6, 2018 promulgating the system of Vietnamese economic sectors. South, including: aviation, transportation and warehousing (H), tourism (N79), accommodation, catering services (I), education and training (P), agriculture, forestry and fisheries (A), manufacturing and processing industries (C), software publishing (J582), Computer programming and related activities (J-62), information services activities (J-63) ; in which construction activities directly serve the above-mentioned economic sectors but excluding construction activities for real estate business purposes specified in the economic sector code (L) under Decision 27/2018 /QD-TTg.
+ Having the purpose of using the loan capital to implement projects on construction of social housing, housing for workers, renovating old apartment buildings on the list of projects compiled and announced by the Ministry of Construction.
Other relevant organizations and individuals.
Accordingly, your business intends to borrow money to build houses for workers, so it is eligible for interest rate support in Vietnam from the state budget for loans from businesses, cooperatives, and business households. . Therefore, your business will be supported with interest from the state budget for this loan.
Who is entitled to interest rate support in Vietnam from the state budget for loans of businesses, cooperatives, and business households?
Principles of interest rate support in Vietnam from the state budget for loans of businesses, cooperatives and business households?
According to Article 3 of Decree 31/2022/ND-CP stipulating the principles of interest rate support in Vietnam as follows:
The interest rate support ensures publicity, transparency, right audience, right purpose, avoiding policy profiteering.
The State budget shall fully and promptly allocate funds for interest rate support for commercial banks to provide interest rate support to customers.
Commercial banks provide interest rate support to ensure compliance with regulations, creating favorable conditions for customers.
Customers who have the ability to repay, have the ability to recover according to the internal assessment of the commercial bank, use the loan capital supported with interest rates for the right purposes, have the responsibility to coordinate with the real commercial bank. interest rate support.
The interest rate support applies to interest payment obligations at interest payment terms that arise during the period from the effective date of this Decree to December 31, 2023.
Commercial banks will stop providing interest rate support after December 31, 2023 or when the funding source (interest rate support limit) is announced, whichever comes first.
Accordingly, your business and the subjects supporting interest rates need to comply with the above-mentioned principle of interest rate support so that the interest support for loans of businesses, cooperatives, and business households has the right value. the meaning of legal policy.
Conditions for interest rate support in Vietnam state budget for loans of enterprises, cooperatives, business households?
According to Article 4 of Decree 31/2022/ND-CP, conditions for receiving interest rate support in Vietnam are as follows:
- 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.
- The loan with interest rate support is a loan in Vietnam dong, signed a loan agreement and disbursed in the period from January 1, 2022 to December 31, 2023, using capital for the right purposes. purposes specified in Clause 2, Article 2 of this Decree and have not yet received interest rate support from the state budget according to other policies.
The loan may not continue to support interest in the following cases:
+ 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 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.
+ Loans with debt extension are not supported with interest rates for the debt extension period.
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