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In accordance with the Decree 36, the VBSP shall support the interest rate for borrowers is 2%/year for the customers having the interest rate support period is from January 01, 2022 to December 31, 2023 (or until the Vietnam Bank for Social Policies announces the end of interest rate support).
The total funding for interest rate support of this policy shall not exceed 3 trillion dong. A loan duration applicable to interest rate support shall be counted from the date of disbursement of the loan to the time the customer fully pays the loan principal, but no later than the end of interest rate support period.
Borrowers in the VBSP shall be eligible for interest rate support from the State budget when they fully meet the conditions as follows:
- Being in policy credit programs at the Vietnam Bank for Social Policies under:
- The interest rate of the loans shall be above 6%/year;
- The loans are disbursed by the VBSP and the outstanding loans arise during the interest rate support period (From January 01, 2022 to December 31, 2023).
- The loans must be given properly to the right beneficiaries according to the specified purposes.
If receiving the support, the VBSP shall calculate the supported interest amount and deduct it from the interest payable by the borrowers.
