Reducing interest rates on loans for social policy credit programs in Vietnam

Bao Ngoc

08:30, 29/11/2021

On November 26, 2021, the Prime Minister of Vietnam promulgated Decision 1990/QD-TTg on interest rate reduction for loans for policy credit programs at the Bank for Social Policies of Vietnam.

According to the Decision, the interest rate is reduced by 10% compared to the lending interest rate for policy credit programs at the Bank for Social Policies, which is regulated by the Prime Minister of Vietnam

Bank for Social Policy of Vietnam strengthens measures to balance operating costs to reduce lending interest rates within the scope of the capital plan to cover interest rate differences and management fees assigned in 2021.

The time to reduce lending interest rates for policy credit programs according to Decision 1990/QD-TTg applicable to outstanding loans at the Bank for Social Policies is from October 1, 2021 until the end of December 31, 2021.

After December 31, 2021, the lending interest rates of policy credit programs at the Bank for Social Policies shall comply with the current regulations of the Prime Minister.

Decision 1990/QD-TTg of Vietnam takes effect from October 1, 2021 to the end of December 31, 2021.

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