Preferential lending interest rate for social housing buyers set at 4.8% per year

ABO/NDO- The preferential lending interest rate for social housing purchase and lease purchase, new construction and house repair will be 4.8% per year from May 10, 2023 to December 31, 2024.

This is following Prime Minister Pham Minh Chinh’s Decision No.486/QD-TTg on the preferential interest rate of loans with outstanding balance at the Bank for Social Policies to support social housing buyers.

Preferential lending interest rate for social housing buyers is 4.8% per year.

Specifically, the preferential lending interest rate of 4.8% at the Bank for Social Policies will be applied to loans with outstanding balance for social housing purchase and lease purchase, new construction and house repair, according to Article 16 of Decree No. 100/2015/ND-CP dated October 20, 2015, and Article 1 of Decree No. 49/2021/ND-CP dated April 1, 2021.

The Bank for Social Policies will take full responsibility for the related contents, data and reports.
The PM’s decision will come into force from May 10, 2023, to December 31, 2024.

Previously on April 3, the Prime Minister approved an investment project to build at least one million social housing apartments for low-income people and workers at industrial parks during the 2021-2030 period. A credit package of 120 trillion VND has been deployed to accelerate the completion of at least one million social housing apartments by 2030 and to provide preferential lending interest rates for social housing investors and buyers.

(Source: NDO)