BizLIVE - Accompanying its customers, HDBank reduces the interest rate of Swift SME credit package of VND 5,000 billion further to 6.2% per year as the lowest from now to the end of 2020, giving small and medium enterprises (SME) more viable financial options to restructure their production and business.
HDBank Reduces the Lending Interest Rate to 6.2%/Year for Small and Medium Enterprises
According to statistics, due to the impact of the Covid-19 pandemic, in the first 6 months of the year, the number of enterprises temporarily suspending their business was 29,200, increasing by 38.2% over the same period in 2019. Many among of them are SMEs and super-small enterprises engaging mainly in accommodation services, catering services, travel agents, education and training service, and trade. They belong to the industries which have been most severely affected and account for 94% to 97% of enterprises in difficulties.
In order to support the customers, partly shoulder a the difficulties of and provide timely support to SMEs, enabling them to stabilize production and business activities and overcome the instability of the economy during the pandemic, HDBank decides to further reduce the interest rate, only from 6.2%/year, applicable to Swift SME credit package of VND 5,000 billion for customers who in need of finance supplement and meet HDBank’s SME credit conditions and standards. The program runs till the end of 2020.
The loan application process under in the program is simple and standardized to ensure that the enterprise will get results within a day.
Apart from preferential interest rates, HDBank offers many other incentives such as waiving and cutting down on fees to minimize costs on SMEs and increase the efficiency of the economical credit package. 
Supporting the economy in the new normal period, HDBank has offered many programs to assist its customers in overcoming natural disasters and pandemics. Preferential credit packages with a total fund of more than VND 34,000 billion were received positively by customers. HDBank had also waived or cut down transaction fees to share the customers’ difficulties. At the same time, accompanying the whole country in fighting against the pandemic, more than VND 25 billion has been donated by HDBank under social welfare programs for the underprivileged throughout the country.