SHB collectively reduces lending interest rates to only 5.79% per year
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Specifically, for individual customers, loan interest rates have been adjusted to decrease to only 6.39% per year for short-term loans and 5.79% per year for medium- to long-term loans. At the same time, with the preferential home loan package, customers will enjoy the disbursement incentives up to 90% of the value of the purchased real estate, the loan term of up to 25 years, the extended interest rate and principal grace period of up to 24 months. Especially, loyal customers who use multiple banking products and services may receive an additional maximum discount of 1% per year.
In addition, SHB also adds 5,000 billion VND to the loan program for customers, raising it to 23,000 billion VND. This credit package is part of the “Preferential Loan – Rong Phat Tai” program which has been implemented by SHB since the end of January 2024, with the initial total budget of 18,000 billion VND to help people increase reserves of goods, production and business finance for the market preparation for shopping, payments, expenditures, etc.
For corporate clients, SHB implements a credit program with a scale of 10,000 billion VND for the business production sector, with interest rates reduced to only 5.8% per year and a 1.00 billion VND credit package for businesses that need to borrow to purchase cars at a preferential interest rate of only 6.5% per year.
These preferential interest rates apply to new loans of individual and corporate customers in 2024 and are valid until December 31, 2024.
By participating in the SHB loan package, customers will not only enjoy preferential interest rates and simple procedures, but also be able to borrow with high credit limits based on diverse collateral assets, shorten the time for document evaluation, and disbursement. Additionally, customers will also receive many benefits and utilities such as: a SHB credit card with a limit of up to 200 million VND, a 2% interest rate reduction for non-collateralized overdraft loans for the purpose of increasing working capital, fees waived or reduced (collection, international payments, etc.), a free Combo package for payment accounts, favorable exchange rates for foreign currency transactions, and attractive account number giveaways…
“By simultaneously reducing interest rates on preferential loan packages and adding an additional 5,000 billion VND credit for individual customers during this period, SHB expects that customers will continue to access cheap sources of funds, while enjoying simple procedures, to promote production, business, and improve living standards in the current challenging economic environment,” emphasized a representative of SHB.
Prior to this, following the guidance of the State Bank of Vietnam and reflecting its role and responsibility in implementing the Government’s policies and directives, SHB has implemented multiple interest rate reductions of up to 2.5% per year for existing individual and corporate customers in order to alleviate difficulties in the economy.
The bank has also successfully signed numerous international loans from major organizations such as the WB, ADB, and IFC, as well as funds and investment with a total value of 26 ODA projects amounting to 2.6 billion USD; long-term funding loans from international organizations of nearly 400 million USD to diversify capital sources in order to meet the increased credit demand of all customers, serving production and business activities.
