The Housing Development Bank (HD Bank) has officially begun an assistance package of VND900 billion ($53 million) to provide loans for home owners, consumers and investors February 18.
|Customers at HD Bank in HCM City. HD Bank will loan a total of VND900 billion for housing and investments. (Photo: SGGP)|
The action was taken to stimulate demand in accordance with government policy.
HD Bank will lend VND500 billion ($29 million) for building and buying houses, purchasing cars and studying abroad. VND400 billion ($24 million) will be loaned to investors for brokerage, deposits, investment consultancy and underwriting.
Loans will be for ten years for buying houses, five years for building and three years for repairs.
The maximum limit for each loan will be VND1 billion ($59,000).