On August 20, Vietcombank currently listed an average lending interest rate of 5.7%/year.
Meanwhile, Agribank announced the normal short-term loan interest rate is at least 5%/year; The average interest rate for medium and long-term loans is usually at least 5.5%/year.
Compare consumer loan interest rates at Agribank and Vietcombank
Agribank currently applies loan interest rates to serve consumer life such as buying houses, land, cars, motorbikes, televisions... as follows:
From 4.0%/year with loan term up to 03 months.
From 4.5%/year for loans over 03 to 06 months.
From 5.0%/year for loans over 6 to 12 months.
From 5.5%/year for medium and long-term loans.
Meanwhile, Vietcombank is providing loans to buy real estate (buying houses), buying cars and other consumption with interest rates from 5.5%/year.
Loan interest rates from 5.5%/year for the first 6 months for loans under 24 months.
Interest rates from 5.7%/year for the first 12 months for loans over 24 months.
This interest rate is part of Vietcombank's preferential package, valid until March 31, 2025 or until the program expires.
In addition, individual customers who receive salary through Vietcombank if they need to borrow capital will receive an additional 0.2%/year discount compared to normal loan interest rates.
In general, consumer loan interest rates at Agribank are cheaper than Vietcombank's lending interest rates.
Compare production and business loan interest rates at Agribank and Vietcombank
At Agribank , medium and long-term production and business loans have interest rates from 6.0%/year for loans of 12 months or more.
Meanwhile, for short-term loans, the lending interest rate at Agribank is from 3.0%/year for loans up to 03 months;
From 3.5%/year for loans over 03 to 06 months;
From 4.0%/year for loans over 6 to 12 months.
At Vietcombank , interest rates for short-term production and business loans are as follows:
From only 4.8%/year for loans under 3 months.
Only from 4.9%/year with loans from 3 months to less than 6 months.
Only from 5.8%/year with loans from 6 months to less than 9 months.
Only from 5.9%/year with loans from 9 months to less than 12 months.
From only 6.2%/year with a loan term of 12 months.
Loan interest rates of Agribank and Vietcombank for small and medium enterprises (SMEs)
Vietcombank reserves VND 100,000 billion in capital to lend to SMEs. The program takes place from April 1, 2024 to March 31, 2025 or until the program runs out. Vietcombank loan interest rates apply as follows:
From only 4.2%/year for loans with a loan term of less than 3 months.
Only from 4.8%/year with loans with loan terms from 3 months to less than 6 months.
Only from 5.5%/year with loans with loan terms from 6 months to less than 9 months.
Only from 5.5%/year with loans with loan terms from 9 months to less than 12 months.
From only 6.1%/year with a loan term of 12 months.
Agribank also spent 20,000 billion VND for short-term loans for SMEs to serve production and business. This bank only said that the lending interest rate is 1.5%/year lower than the normal lending interest rate floor.
The application period is from February 1, 2024 to December 31, 2024.
The above interest rate packages are updated from the official website of Vietcombank on August 20, 2024. The lending interest rate floor may change from time to time.
Loan interest rates are specific to the term, target audience and customer policies of Agribank and Vietcombank. When borrowing capital, banks need to add capital costs required for credit risks and credit risk provisions.
