Vietnam Maritime Commercial Joint Stock Bank (Maritime Bank) has recently said that from August 2012, Maritime Bank officially launched an MFloat import finance product with a credit line of five trillion dong at the fixed preferential lending interest rate at 7 percent per year and maximum at no higher than 9 percent per year.
The preferential interest rate for enterprises will include fixed interest rate and additional interest rate, of which, the fixed interest rate will be paid in dong monthly and the additional interest rate will be paid in dong at the time of granting credit or the settlement date for the loan.
Apart from incentives in fixed interest rate of 7 percent per year and maximum at no higher than 9 percent per year, business and production enterprises when borrowing capital at Maritime Bank will enjoy the preference in dong/US dollar Forex rate whereby when calculating the additional interest rate, Maritime Bank will use the average dong/US dollar Forex rate between the BID and ASK prices.
In addition, the additional interest rate of enterprises may be also negative and Maritime Bank will refund if the dong/US dollar Forex rate at the time of debt payment decreases against the time of receiving debt. Customers can also pay debts before due if they have conditions.