The first joint venture bank in Vietnam Indovina Bank said it was promoting loan financing to support businesses. Accordingly, the bank spent one trillion dong to lend to businesses (borrowing in dong) with preferential interest rates of less than eight percent per year. Enterprises can choose two types of interest payments, one is a fixed interest rate of 7.49 percent per annum applied in the first three months, and the other is a fixed interest rate of 7.99 percent per annum applied in the first six months since disbursement.
Businesses with a demand for loans can borrow up to 100 percent of the demand for loans with flexible assets. The time for this loan is from now until the end of 2019.
On the market today, the lending interest rate is below eight percent per year, although the application time is not only from three to six months, but also an interest rate quite attractive by the deposit interest rates of banks. Every item is anchored at a high level. With this interest rate, according to our calculations, minus management costs and input interest rates, the bank is almost no interest. The profit sacrifice shows that the bank really wants to share difficulties and companionship with businesses and for the long-term interests of both parties.
It is known that in addition to the preferential lending interest rates, Indovina Bank is also having an attractive deposit interest rate, the highest of up to 7.9 percent per year for the 24-month term and above.
