Year 2018: Bank Loan for Purchase of Social Housing with an Interest Rate of 4.8% Per Annum

13:48, 11/07/2024

This is the main content stated in Decision 370/QD-TTg on the preferential lending interest rate for social housing at the Bank for Social Policies as stipulated in Decree 100/2015/ND-CP.

The social policy bank is entitled to provide preferential loans with an interest rate of 4.8% per annum, equivalent to 0.4% per month, to the following eligible cases:

- Purchase, rent, or hire purchase of social housing;- New construction or renovation, repair of residential houses.

Please note that the above-mentioned interest rate is only applicable to cases of purchasing, renting, hire-purchasing social housing, and building, renovating, repairing houses for living according to the provisions of Decree 100/2015/ND-CP.

In cases where the borrower defaults, the overdue interest rate will be calculated at 130% of the lending interest rate.

Meanwhile, for loans to purchase social housing at commercial banks designated by the state bank, the lending interest rate will be higher, specifically set at 5% per annum.

Decision 370/QD-TTg came into effect on April 03, 2018.

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