The Goverment offers soft loans to buy social housing
The Prime Minister signed Decision No. 355/QD-TTg on preferential lending interest rates of Vietnam Bank for Social Policies in according to the provisions of the Decree No. 100/2015/ND-CP dated October 20, 2015.
Accordingly, the preferential lending interest rate of Vietnam Bank for Social Policies applies to outstanding loans in 2019 to buy and hire to buy social housing; new construction or renovation and repair of residential houses according to the provisions of Decree No. 100/2015/ND-CP dated October 20, 2015 of the Government on social housing development and management is 4.8%/year. Overdue debt interest rate is calculated at 130% interest rate when loaning.
This decision takes effect from April 1, 2019 and replaces Decision No. 370/QĐ-TTg dated April 3, 2018 of the Prime Minister
Translator: Nhat Ha
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