Sacombank unveils major credit expansion plans

Sacombank expands credit plans for corporate and retail customers . —  Photo courtesy of the bank

HCM CITY — Sacombank plans to add VNĐ10 trillion (US$407.27 million) to the VNĐ20 trillion it had earmarked for lending by January 31 to businesses seeking to boost production.

The interest rates range from 3-5 per cent for a loan for one month to three months and from 5.5 per cent for terms of four to 12 months.

The bank also added VNĐ10 trillion to the VNĐ25 trillion it targets to lend to retail customers for doing business. The loans carry 6 and 7 per cent interest rates for up to and more than one year.

In addition, Sacombank has rolled out a preferential package worth VNĐ10 trillion for retail customers for fulfilling their living needs, with interest rates starting at 6.5 per cent.

The two loans will be given through March 31.

In the period leading up to Tết, there is usually high demand for funding for production, stockpiling ofgoods and consumption.

Borrowers can also open payment accounts with their own preferred numbers, get credit cards for free and cashback on card spending. — VNS