Nhan Dan Online - The Bank for Investment and Development of Vietnam (BIDV) on January 1 announced that its lowest lending interest rate is 6.5% a year, 2% lower than the current prime interest rate.

The rate will be applied for three months for the account standings of existing borrowers whose products are in stock or are sold slowly such as steel billet, construction steel, fertiliser, cement and medicine.

BIDV also offers 8.5% lending interest rate to exporters that have had direct export contracts and committed to selling foreign currency to BIDV.

BIDV's lending interest for short-term loans for small and medium-sized enterprises, enterprises that have more than 1,000 workers and enterprises that produce import substitutes is 9% a year.

For under six-month term loans, the lending interest rate is 9.5%-10% a year while that for loans with terms of over six months is 10-10.5% a year.

The lending interest rates for loans in US$ vary from 4.8% a year to 5.7% a year depending on the terms of the loans.

The new rates will become valid on January 9.

Thu Thin