Increase maximum loan amount for poor households to 100 million VND
From March 1, 2019, the Bank for Social Policies increased the maximum loan amount for poor households from 50 million VND/household to 100 million VND/household without loan collateral.
Customers apply for loans at the Social Policy Bank.
Information from the State Bank of Vietnam said that from March 1, 2019, the Vietnam Bank for Social Policies (VBSP) will raise the level ofMaximum loan for poor households from 50 million VND/household to 100 million VND/household without loan collateral.
At the same time, increase the maximum loan term to 120 months to suit the growth and development of long-term investors.
This is a regulation in Decision No. 12/QD-HDQT on increasing the maximum loan amount and loan term for poor households to meet capital needs for production and business, signed by the Governor of the State Bank and Chairman of the Board of Directors of the Vietnam Bank for Social Policies.
By the end of 2018, the total outstanding debt of the credit programs of the Vietnam Bank for Social Policies reached over VND 187,000 billion; of which the outstanding debt of the lending program for poor households was VND 38,000 billion (accounting for 20.2% of the total outstanding debt) with 1.28 million poor households still having outstanding debt.
