Accordingly, the "Preferential Loan - Dragon Prosperity" package is increased from VND 29,000 billion to VND 43,000 billion to help customers accelerate production and business activities in the last months of the year.
The customers eligible for the incentives are individuals who need to borrow capital for production and business (supplementing working capital, investing in fixed assets, etc.) or other living needs such as buying real estate, buying cars, building/repairing houses, purchasing furniture, etc. and fully meeting the credit conditions according to current regulations of the State Bank of Vietnam (SBV) and SHB.
Accordingly, depending on actual needs and financial capacity, customers can access interest rates of 6.39%/year for short-term loans and 5.79%/year for medium and long-term loans, equivalent to 3.5% - 4.0% lower than normal lending rates.
In addition, customers borrowing capital under short-term, medium- and long-term packages and wishing to use at least 01 other SHB product or service will receive a maximum interest rate reduction of 1%.
In particular, SHB also fixes interest rates for customers in the first 5 years with the lowest preferential interest rate of 9.39%/year. This is an attractive policy with the longest preferential period on the market, helping customers feel secure in using SHB's loans, without worrying about financial fluctuations.
Along with increasing the credit scale, for home loan packages, SHB also adjusted some incentives to give customers more opportunities to own apartments, such as: Increasing the loan term from 25 years to 35 years, increasing the principal grace period from 24 months to 60 months, equivalent to 5 years.
Customers borrowing capital in the program also enjoy many privileges and benefits such as giving a credit card with a limit of up to 200 million VND, and reducing the interest rate by up to 2% for overdraft loans for the purpose of supplementing working capital.
SHB representative said that increasing the scale of the preferential credit package to VND 43,000 billion continues to demonstrate SHB's efforts, determination and responsibility in implementing the Government's orientation, proactively supporting customers to overcome difficulties; ensuring capital sources for many customers and small traders to access and enjoy preferential loans from SHB to effectively restore production and business in the last months of the year.
“By adding an additional VND 14,000 billion as well as adjusting some incentives, SHB hopes that this move will help customers quickly access cheap capital sources and simple procedures to fully implement the 2024 financial plan,” emphasized a SHB representative.
The “Preferential Loan - Dragon Prosperity” package has been implemented by SHB since the beginning of 2024 to meet the diverse needs of customers for loans. After many adjustments in scale and preferential policies, up to now, SHB has disbursed more than 23,000 billion VND to nearly 20,000 customers.
Since the beginning of the year, implementing the direction of the State Bank and the Government's management policies, SHB has implemented many interest rate reductions for loans, helping customers overcome difficulties and obstacles, thereby expanding access to credit capital for businesses and people.
In particular, in order to join hands to support customers affected by storm No. 3 Yagi, SHB has reduced 50% of interest payable for the last 4 months of 2024, and supported an interest rate of only 4.5%/year for new loans.
The bank has also successfully signed many credit cooperation agreements with major international organizations such as WB, ADB, IFC, etc. Of which, the funding and investment for 26 ODA projects with a total value of over 2.6 billion USD; medium and long-term capital borrowed from international organizations of nearly 400 million USD helps the bank diversify its capital sources to meet the credit needs for production, business and life activities of all customers.
