SBV proposes to bring more people under home credit package

The State Bank of Vietnam (SBV) has announced a draft circular allowing another three groups of people to access low interest loans from the VND30 trillion (US$1.41 billion) home credit package.

A social housing project in District 8 (Photo: SGGP)

The first group includes officials, civil servants, army forces, workers, and low income laborers who have not had houses and expect to buy houses from housing development and urban area projects. Each contract value including land and house must not exceed VND1.05 billion (US$49,000).

In case they have land, are unaffordable for building houses, and have not received any assistance from the Government, they belong to the second group.

The third group is households and individuals repairing or rebuilding social houses for lease or re-sale to workers, students and laborers and those under the social housing policy.

By Ham Yen – Translated by Hai Mien

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