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Kienlongbank reduces 3 of loan interest rates for customers suffered by drought and soil salinity

Government has policy and the State Bank of Vietnam (SBV) has guidance under Official Letter No. 1835/NHNN-TD dated 18 March 2020 asking SBV branches in 13 provinces and cities at Mekong Delta and other credit institutions (including the VBSP) to actively understand production and business situation, changes in saline intrusion and damage of borrowers to promptly apply supportive measures, remove difficulties for customers as stipulated, at the same time, to balance funding resources to fully meet the capital needs. Accordingly, Kien Long Commercial Joint Stock Bank (Kienlongbank) implements the Program "Supporting Mekong Delta farmers suffering from drought, saltwater intrusion". 

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Specifically, Kienlongbank deploys "Reduce 3%/year of existing lending interest rate" for both individual and corporate customers. The reduction period is from 1st April to 30th June 2020 for customers in Mekong Delta (priority is for five provinces that have declared emergency cases: Kien Giang, Ben Tre, Ca Mau, Tien Giang and Long An), to provide timely and urgent assistance to customers damaged by drought and saline intrusion.

The program supplements capital for agricultural production (farming, planting) of: rice, fruit trees, vegetables and aquatic products in 05 provinces affected by drought and saline intrusion. During this time, Kienlongbank also supports customers with free interest of overdue interest and late interest payment. Interest exemption/reduction period: Up to 03 months and not exceeding June 30th 2020.

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Previously, in order to accompany and support customers who have difficulties with the domestic agriculture industry when the market price suddenly dropped sharply, Kienlongbank reduced lending interest rate ò 3%/year for existing customers who grow fruits: dragon fruit, watermelon, durian, jackfruit, mango, rambutan, banana financed by Kienlongbank in recent years. The reduction period is until 30th April 2020.

By these programs, Kienlongbank wishes to accompany and support customers to overcome difficulties, restore production and business in the coming time. Customers can see more details at www.kienlongbank.com or visit our branches and transaction ofices nationwide or dial 19006929

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