Bank proposes 4.8 percent interest for social housing loans
The Vietnam Bank for Social Policies (VBSP) has submitted proposals to the Prime Minister on the interest rates for preferential loans to rent and buy social housing or build, upgrade, and repair houses in 2019, with the suggested annual rate of 4.8 percent.
The Vietnam Bank for Social Policies has proposed a 4.8-percent interest rate for social housing loans (Photo: VNA)
Hanoi (VNA) – The Vietnam Bank for SocialPolicies (VBSP) has submitted proposals to the Prime Minister on the interestrates for preferential loans to rent and buy social housing or build, upgrade,and repair houses in 2019, with the suggested annual rate of 4.8 percent.
According to VBSP Deputy General Director Nguyen LanPhuong, the Government Office is gathering ideas from ministries and sectors,as well as the VBSP to issue a decision on the rate as soon as possible.
Phuong said that the capital planned for the socialhousing programme in 2019 is over 1.32 trillion VND (56.76 million USD),including 663 billion from the State budget, while the remaining 50 percent willbe mobilised by the VBSP.
In 2018, the bank was allocated 500 billion VND andmobilised a similar amount to increase the total resources for preferentialloans to 1 trillion VND (43 million USD).
As of December 31, 2018, 59 cities and provinces completedtheir assigned targets in loan distribution, led by Hanoi with 62 billion VNDand followed by Ha Tinh with 54 billion VND; Khanh Hoa, 52 billion VND; QuangNam, 50 billion VND; and Da Nang, 50 billion VND.
The programme to provide social housing loans followsthe Government’s Decree No.100/2015/ND-CP which has been implemented since April2018. –VNA
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The Vietnam Bank for Social Policies has proposed a 4.8-percent interest rate for social housing loans (Photo: VNA) 
