Conditions to receive interest rate support in Vietnam from the Social Policy Budget? In case of detecting that a customer's loan does not meet the conditions for support, how to handle it?
What are the conditions for interest rate support in Vietnam for loans at the Bank for Social Policies?
Pursuant to Article 4 Decree 36/2022/ND-CP on interest rate support in Vietnam for loans at the Bank for Social Policies, fiscal and monetary policies to support the program of socio-economic recovery and development as follows:
"Article 4. Conditions for interest rate support from the state budget
A borrower is entitled to an interest rate subsidy from the state budget when fully meeting the following conditions:
1. Having a loan that meets the following conditions:
a) Belonging to policy credit programs loaned by the Bank for Social Policies under: Decrees of the Government; Decisions of the Prime Minister; entrustment documents of local governments, economic organizations; , socio-political organizations, associations, associations, non-governmental organizations, domestic and foreign individuals; agreements and contracts on on-lending from ODA and foreign incentives; agreements other foreign financing;
b) Having a loan interest rate of over 6%/year;
c) Disbursed by the Bank for Social Policies and having outstanding loans during the period of interest rate support
. borrow money right the borrower and use the loan for the right purpose according to regulations".
Conditions to receive interest rate support in Vietnam from the Social Policy Budget? In case of detecting that a customer's loan does not meet the conditions for support, how to handle it?
What is the method of interest rate support in Vietnam for loans at the Bank for Social Policies?
Pursuant to Article 4 Decree 36/2022/ND-CP on methods of supporting interest rates for loans at the Bank for Social Policy, fiscal and monetary policies to support the socio-economic recovery and development program such as:following:
"Article 6. Methods of interest rate support
1. The State budget provides interest rate support to borrowers through the Bank for Social Policies and pays the interest rate support amount to the Bank. Social Policy Bank in accordance with the provisions of this Decree.
2. Every month, the Bank for Social Policies calculates the supported interest amount and deducts it from the interest payable by the borrower."
How is the recovery of the interest supported amount done?
Pursuant to Clause 5, Article 7 Decree 36/2022/ND-CP on handling the recovery ofinterest rate support in Vietnam for loans at the Bank for Social Policy, fiscal and monetary policies supporting the recovery and development program socio-economic conditions as follows:
- In the course of implementation, in case it is discovered that a customer's loan does not fully meet the conditions for interest rate support from the state budget as prescribed in this Decree, the Government Bank will social policies shall immediately recover the amount of money that the Bank for Social Policies has provided interest rate support to borrowers;
- In case the state budget has paid the interest rate support amount or has settled the interest rate support for the loan specified at point a of this clause, the Bank for Social Policies shall refund the state budget or report to the State budget. to deduct from the next year's interest support payments.
In Article 9 Decree 36/2022/ND-CP on handling the recovery of interest rate support in Vietnam for loans at the Bank for Social Policies provides for the periodical reporting regime as follows:
"Article 9. Reporting mode
1. Quarterly, annually and at the end of the program, the Bank for Social Policies shall send to the Ministry of Finance quarterly, annual and program end reports on the results of the implementation of interest rate support of the whole country. system according to the form in Appendix I issued with this Decree
2. Time limit, time to finalize data and method of sending reports
a) Time limit for sending reports
- Quarterly report: No later than 10 days from the date offrom the end of the quarter;
- Annual report: 60 days at the latest from the end of the year;
- Program end report: 60 days from the end of the program
b) Time to close the number. quarterly and annual report data: The starting time of data collection is the first day of the reporting quarter or year; the end time of data collection is the last day of the reporting quarter or year.
c) Time to close data. Program end report: Time to start data collection is January 1, 2022; the end of data collection is December 31, 2023 or the time of notification of termination of interest rate support as prescribed at point g, clause 2, Article 10 of this Decree, whichever comes first.
d) The method of sending the report shall be in one of the following ways:
- Sending it directly in the form of a paper document;
- Send by postal service in the form of paper documents;
- Sending via email system or specialized reporting information software system;
- Other methods as prescribed by law."
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