Borrowing social housing loans bear interest at 4.8% per annum

The Prime Minister signed Decision 370 / QD-TTg on the preferential interest rates for social housing at the Social Policy Bank under the Government’s Decree No. 100/2015 / ND-CP.

Accordingly, the preferential loan interest rate at the Social Policy Bank for subjects buying or renting social houses, building new houses or renovating or repairing dwelling houses according to Decree No. 100/2015 / ND- CP dated October 20, 2015 of the Government on development and management of social housing in 2018 is 4.8% per year, equivalent to 0.4% per month. Overdue debt interest rates are calculated at 130% interest rate on loans.

Previously, the Prime Minister also issued Decision 117 / QD-TTg, setting the interest rates for loans to buy social housing in 2018 at the State-designated credit institutions is 5% per year.

Decree No. 100/2015 / ND-CP stipulates that subjects entitled to preferential loans for buying, renting, renting social houses, building or renovating or repairing dwelling houses are those defined in Clauses 1, 4, 5, 6 and 7, Article 49 of the Housing Law.

Borrowing social housing loans bear interest at 4.8% per annum

Accordingly, the beneficiaries are entitled to a loan of at least 15 years from the date of first loan disbursement. Where the customer needs a loan with a term lower than the minimum loan term agreed with the bank for a lower loan term.

~~>>Update on new information on the real estate news in Vietnam here: Vietnam real estate news

However, although Decree No. 100/2015 / ND-CP has been promulgated for 2 years, banks have yet to allocate money to people. People are waiting for the new preferential interest package similar to the VND30 trillion loan package has ended.

You are reading the article Borrowing social housing loans bear interest at 4.8% per annum in the Real Estate category at https://realestatevietnam.com.vn/.Any information sharing, feedback please email to contact.vietnamrealestate@gmail.com, Hotline (+84) 898 898 688 (24/7).

Special thanks!