VPBank reduces lending rates for individual customers affected by storm No. 3

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has just issued a notice stating that, implementing the direction of the State Bank on considering loan interest exemption and reduction, debt restructuring and supporting new borrowers affected by storm No. 3, the unit has decided to implement a loan interest rate support program for existing individual customers affected by the storm.

Accordingly, VPBank will directly reduce lending interest rates for all individual customers with existing loans at the bank and with collateral. Specifically, VPBank will reduce interest rates for medium and long-term loans by 1%, and short-term loans by 0.5%.

VPBank's interest rate support program is implemented from September 13 to December 31, 2024, applied in all provinces and cities directly affected by storm No. 3 such as Quang Ninh, Hai Phong, Hanoi, Thai Nguyen, Yen Bai...

In addition to reducing loan interest rates, VPBank also offers loans with extremely attractive interest rates of only 6.5%/year fixed for the first 12 months for all customers who need to repay loans early at other banks or borrow to buy real estate, build and repair houses.

Previously, right after the storm passed, on September 9, the State Bank directed credit institutions, foreign bank branches and State Bank branches in provinces and cities affected by storm No. 3 to proactively review and summarize the damage of customers who are borrowing capital to promptly apply support measures and remove difficulties for customers.

According to banking statistics, more than 12,000 borrowers in Hai Phong and Quang Ninh with a total outstanding debt of VND26,000 billion suffered heavy losses after storm No. 3.