The study focused on the effect of agricultural credit programs on borrowers'' socio-economic conditions in An Giang Province of Vietnam. The research identified that the farmers got credit on both group guarantee and collateral basis. The credit mostly used for production purpose; however, some of the borrowers used some credit for consumption purpose as well. Overall, the credit positively made contribution to income, food security, employment opportunities, savings and capacity strengthening. Since household income increased, it helped to improve the quality of life of villagers. However, the amount of credit provided was inadequate. This constrained improved socio-economic status of poor villagers. Another significant finding was that some of villagers could not achieve more benefits from using credit in their production activities because of restricted loan size. They could not get adequate amount of loan because of insufficient or lack of collateral. Finally, a set of recommendation has been made suggestions for improvement of the effectiveness of credit schemes. This can help the poor people to improve their income and quality of life.