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Updated: 2020-04-08 15:29:59

Disadvantaged employees to access inclusive finance of up to VND 50 million in Da Nang

(VBSP News) Danang People's Committee has issued a decision which approves the entrusted capital to VBSP Danang to allocate to the disadvantaged officers. The lending interest rate is equal to the rate of the poor households program, currently 0.55%/month. The overdue debt interest rate is 130% of the lending interest rate.

Accordingly, the subjects are disadvantaged officers who are: salary rate of 3.00 or less; or their spouse or child of working age but have no job, an unstable job or lose a job, quit a job, redundant during the reorganization, downsize or retire ahead of schedule , loss of working capacity; or have more than 1 child currently enrolled in vocational training schools, Intermediate, College, University; or have family members with serious illnesses or long-term treatment; or their families seriously damaged by natural disasters, epidemics or fires.

The lending conditions: a recruitment/appointment decision by the competent authority; currently working and paid by the unit of which the trade union belongs to the City Trade Union; certified by the grassroots trade union of disadvantaged background under the regulation; legally residing at locality.

The lending term: short-term (maximum of 12 months) and medium-term (over 12 months to 60 months).

The loan size: based on the assessment of competent authority on the applicant’s background, loan needs, debt repayment capability and submitted plan. Accordingly, the loan size ensures (i) the monthly loan’s principal and interest are not exceeding 30% of the borrower's income, (ii) both are pay off at due date and (iii) the maximum loan size does not exceed VND 50 million/borrower. In case more than one eligible borrower in one household, it will be considered and proposed by the grassroots trade union.

A typical commune transaction point in Danang city (Photo taken before 01 April 2020)

Source: taichinh.danang.gov.vn



Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year