Social housing loan interest rate maintains at 5 percent
Preferential loan interest rate remains unchanged at 5 percent for purchase, hire or lease purchase of social housing projects in 2019 as per Vietnamese Prime Minister’s decision 225/QD-TTg, which took effect from the beginning of this year.
The interest rates will be applied for house buyers who have already sought loans in the minimum repayment term of 15 years after disbursement. In case that house buyers ask for loan in shorter time, they should make a deal with banks.
The Prime Minister said that the Ministry of Industry and Trade and provinces must stimulate consumer demand more strongly. The State Bank of Vietnam must continue to promote credit growth, at the same time, curb bad debts. The goal is to keep achieving the dual goal more successfully, accelerating the process of economic recovery, and striving to achieve a growth rate of 2.5-3 percent.