FROM MAY 10, 2023, THE CONCESSIONAL LOAN INTEREST RATE FOR PURCHASE OF SOCIAL HOUSES IS 4.8 %/YEAR
On May 10, 2023, the Prime Minister issues Decision No. 486/QD-TTg on the Vietnam Bank for Social Policies’ concessional loan interest rate for the purchase and rent-purchase of social houses and house building, renovation, or repair.
In particulars, the Prime Minister decides to apply the Vietnam Bank for Social Policies’ concessional loan interest rate of 4.8% per annum for the purchase and rent-purchase of social houses and house building, renovation or repair under Article 16 of Decree No. 100/2015/ND-CP which is amended by Clause 10 Article 1 of the Decree No. 49/2021/ND-CP.
The Vietnam Bank for Social Policies shall take full responsibility for reported and proposed contents and data.
The Decision No. 486/QD-TTg takes effect from May 10, 2023, to December 31, 2024. A social house means a house constructed with the State’s support for a person who is entitled to the housing support policy prescribed in the Housing Law 2014.
In accordance with Article 49 of the Housing Law 2014, subjects are entitled to social housing support policies if meeting the conditions as follows:
- Persons with meritorious service to the revolution;
- Poor households and households living just above the poverty line in rural areas;
- Households in rural areas frequently hit by natural disasters or affected by climate change;
- Low-income earners, poor households, and households living just above the poverty line in urban areas;
- Persons working in enterprises inside and outside industrial parks;
- Officers and non-commissioned officers engaged in professional operations, non-commissioned officers engaged in technical operations, career army men, workers in agencies and units of the People’s Public Security and People’s Army;
- Cadres, civil servants, and public employees;
- Subjects that have returned official-duty houses;
- Households and individuals that are subject to land recovery or house clearance or demolition as prescribed by law and have not yet received any compensations in houses or residential land.
