Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Tuesday, January 31, 2023

Interest rate for housing support loans to be lifted to 5 percent next year

Updated: 09:00’ - 16/12/2022
From early 2023, commercial banks will increase the interest rate to 5 percent per annum from the current 4.8 percent for loans used for purchasing, and leasing social housing projects and commercial ones with an area of under 70 square meters and VND 15 million (USD 634) per square meter.

Photo: VNA
 
According to Decision 2018/QD-NHNN, groups eligible for the loans are civil servants, public employees, military officers and low-in-come workers who are struggling to buy houses at commercial housing projects or houses at urban areas approved by the authorities with the total value of purchase and sale contracts (including houses and land) not exceeding VND 1.05 billion. 
 
Households and individuals that have plans to renovate or build new social houses in accordance with the provisions of law for lease, lease purchase and sale to workers and employees in industrial parks, small and medium industrial clusters, export processing zones, economic zones, high-tech zones, industrial and handicraft production establishments and factories will be able to get access to the loans.

The decision will replace Decision.1956/QD-NHNN of 2021, on the interest rate of commercial banks for outstanding housing support loans in 2022.- (VLLF)
 

Send Us Your Comments:

See also:

Video

Vietnam Law & Legal Forum