Each of low - income households across the country can get loans up to VND25 million (US$1,114) to build or repair houses from October 2015. This is ruled by a decision on housing support to the poor signed by the Prime Minister.
They can borrow a maximum of VND25 million per household from the Vietnam Bank for Social Policies with the annual interest rate of three per cent and a maturity period of 15 years, including a five-year grace period.
The maximum time permitted to clear the loan will be 10 years. From the sixth year, the borrowers will have to return at least 10 per cent of the loan yearly.
Also according to the decision, a household is eligible for the loan to meet these requirements. Their dilapidated houses must have an area of at least 24 meter square. Houses of unmarried people can have an area of 18 meter square up.
These houses will be granted certificates of registration; however, they can only sell after they pay all loans including interest.