The government decided that the interest rate for loans to buy social housing is 5%.

The Prime Minister decides on preferential lending interest rates of credit institutions designated by the State in accordance with the provisions of Decree No. 100/2015/ND-CP dated October 20, 2015 of the Government on development and management of social housing.

Illustration.

Accordingly, the preferential lending interest rate of credit institutions designated by the State applied in 2016 and 2017 for outstanding loans for purchase, lease, hire-purchase of social housing; construction of new or renovation, repair of housing as prescribed in Decree No. 100/2015/ND-CP dated October 20, 2015 of the Government on development and management of social housing is 5%/year.

According to Decree No. 100/2015/ND-CP, subjects eligible for preferential loans to buy, rent, or hire-purchase social housing; build new or renovate or repair houses for residence are subjects specified in Clauses 1, 4, 5, 6 and 7, Article 49 of the Housing Law.

The above subjects are allowed to borrow for a minimum of 15 years from the date of first loan disbursement. In case the customer needs to borrow for a term lower than the minimum loan term, they will negotiate with the bank on a lower loan term.

According to baotintuc