Implementing Decree 55 / ND-CP dated June 9, 2015 of the Government on credit policies for agricultural and rural development, in the past years, TYM has had preferential policies for lending for agricultural and rural development. In 2019, in order to create more conditions for members with business and production activities in the field of agriculture and rural areas, TYM continues to have incentives for members who borrow agriculture loans.
Accordingly, TYM members residing in rural areas or running production and business activities in the agricultural sector and being farm owners who satisfy TYM’s conditions may avail TYM’s multi-purpose loan and economic development loan with a preferential interest rate which is 3 times lower than the current negotiated interest rate of TYM. In particular, customers who buy insurance for agricultural producers when they avail TYM’s loans, can have interest reduction of 0.2% per year.
Below is a summary of some basic regulations and policies for customers who take out agriculture loans.
1. Target group:
– Women belong to the group of customers borrowing from TYM and residing in rural areas or running production and business activities in agriculture and being farm owners;
– Areas of investment: (1) production and trading of agricultural products; (2) industrial production, trade and service provision in rural areas; (3) production of seeds, animal husbandry, aquaculture, afforestation and supply of products and services for agricultural production; (4) Development of careers in rural areas; (5) Serving the national target program on new rural construction; (6) Serving the life needs of residents in rural areas; (7) According to economic programs related to agriculture and rural areas of the government.
2. Loan availing conditions:
– Clear borrowing purposes;
– Supporting documents showing the expenses of project implementation;
– Self-owned capital of members accounts for at least 60% of total project implementation cost
– Some other provisions related to the certificate of land use right of the loan applicant.
Customers who need a loan will be consulted by TYM staff and instructed the necessary procedures to prove the above borrowing conditions.