SeABank offers VND 2,000 billion credit package for SMEs and home buyers

16/04/2012

In response to financial methods recently issued by the State Bank of Vietnam for the national economy’s acceleration and the efficient & prudent banking activities in 2012, the Southeast Asia Joint Stock Bank (SeABank) has just announced the VND 2,000 billion of credit package with favorable conditions for small and medium enterprises of import & export sector and individual borrowers for home acquisition, construction and repair.

Accordingly, on April 16, 2012, the Bank started to dedicate the VND 1,000 billion credit package for import & export enterprises with VND lending interest rate discounts up to 2% per year, deduction of 50% of fund transfer fee via SeABank’s electronic payment channel (SeANet) as well as low and flexible deposit ratio for L/C opening. The remaining VND 1,000 billion shall be lent to individuals in need of home acquisition, construction and repair with the rate discount up to 3% per year (equal to 17.10% per year) and no interests charged for the first lending month.

This program shall be widely applied to existing and new customers of SeABank in order to help enterprises easily access to stable capital source for their business. Enterprises can also receive SeABank’s advice on financial solutions adequate to their business features to optimize the benefits from the bank’s loan. For those interested in home loan, priority shall be given upon registration from April 16 to the end of June 30, 2012.

In the condition of uncertainty and challenging economy where enterprises and individuals are coping with many difficulties in loan access, SeABank’s preferential VND 2,000 billion credit package is a timely financial support, which shall reduce financial burden for importers & exporters to better focus on doing their business as well as ease capital pressure on real estate market. The Program also shows SeABank’s commitment in capital supports and confidence recovery for enterprises and citizens.

SeABank’s Deputy General Director Mr. Le Quoc Long says: “SeABank introduces the finance package of VND 2,000 billion with a view to enforce SBV’s guidelines on implementing financial solutions in order to foster the economy. With the sound financial capacity, we pledge for continuous support towards enterprises and stable –incomed home buyers”.