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Updated: 2020-06-02 08:53:28

HCMC wants poor and near-poor to have access to loans from VBSP

(VBSP News) The HCM City People's Committee wants all poor and near-poor households and those that have recently surpassed the near-poor level, as well as other target groups, to have access to loans and services from VBSP.

Many households have escaped from poverty thanks to VBSP's loans

Eligible households would have access to multiple services offered by the bank and simplified administrative procedures.

The committee also wants the Government to consider allowing households of average living standards to benefit from a credit programme for struggling students. It aims to increase the maximum loan allowed from VNÐ2.5 million (US$107.35) to VNĐ 3.5 million per month so that families can deal with rising school fees and fluctuating market prices.

Regulations concerning loan charge-offs and extension of loan payment deadlines for households and students (including students struggling with employment and helping their families pay their loans) are also among the city’s requests.

Favourable loans for farming households that need to build, repair or improve their water works or sanitary construction works should also be considered, according to the city.

From 2014 to 2019, VBSP branch in HCM City provided trillions of đồng for social policy loans, helping more than 72,000 households overcome their poor status and thousands of struggling students continue their studies.

Vietnamnews

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LENDING INTEREST RATE

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

Students

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
Others...

DEPOSIT INTEREST RATE

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