Nghe An effectively implements social housing loan program according to Decree 100

MuscleAn Cu Lac Nghiep Association

As civil servants with a low salary, owning a private house is the dream of Le Phi Yen and her husband in Block 6, Quan Hanh town. The dream of having a house to settle down has come true since Yen and her husband accessed a loan from the Social Policy Bank.

Ms. Yen confided: “I am a teacher and my husband is a technician, the income is not high but quite stable. With a loan of 300 million VND from the Social Policy Bank, together with the savings, the family built a new spacious house. The disbursement was very convenient, there was no difficulty. The interest rate of the loan program is suitable for the income of both husband and wife, every month we try to save to pay off the bank debt. And the loan period is also very long, so we are not under pressure to repay the debt, and can work with peace of mind.”

The house of Le Phi Yen and her husband in block 6, Quan Hanh town was built with a loan from the Social Policy Bank. Photo: Thu Huyen

For Nguyen Thi Hau and her husband in Tho Son hamlet, Nghi Van commune, Nghi Loc district, the day they were able to move into their new home, their relatives and family were all happy for them. The couple are workers in the VSIP industrial park and have two school-age children; their income is just enough to cover their daily expenses, so saving up to build a new house is difficult for her.

Then, joy came to Ms. Hau and her husband when in August 2022, the family received a loan of 500 million VND from the Nghi Loc District Social Policy Bank from the social housing loan program. Together with the savings, she was able to build a spacious house. Ms. Hau said: When I had access to bank loans, I felt very lucky. Thanks to the policy capital, my husband and I were able to build the house we have now.

Up to now, Nghi Loc district has disbursed more than 6 billion VND from the social housing loan program, helping 23 households get preferential loans to build houses, helping them settle down and have motivation to move towards a better life.

Loans under Decree 100 help many families of civil servants, public employees, and workers have the opportunity to access preferential loans to build houses and settle down. In the photo: Mr. Cao Duc Nguyen's family in Dien Ngoc commune, Dien Chau district borrowed capital from the Policy Bank, and with the savings, built a spacious house. Photo: Thu Huyen

In Dien Chau district, implementing Decree 100/2015/ND-CP dated October 20, 2015 of the Government on the policy of developing and managing social housing, Dien Chau District Social Policy Bank proactively advised the District People's Committee and the Board of Directors of the District Social Policy Bank to direct the implementation. Thereby, the social housing loan policy was promptly implemented, meeting the demand for loans to buy social housing, build new houses and repair houses of a number of households with housing difficulties in the district.

In 2023, the Dien Chau District Social Policy Bank was assigned by the Nghe An Province Social Policy Bank a plan target of 9 billion VND for social housing loans according to Decree 100/2015/ND-CP under the Socio-Economic Recovery and Development Program according to Resolution No. 11/NQ-CP of the Government. In order to promptly disburse the allocated capital and support those in need of building new or repairing houses in the province, from the beginning of 2023, the District Social Policy Bank has stepped up propaganda and dissemination of the program to all levels of associations, local leaders, officials of the Poverty Reduction Committees of communes and towns, heads of villages and hamlets, and members of the Management Boards of Savings and Loan Groups to propagate and disseminate to beneficiaries. At the same time, closely coordinate with local authorities, associations, and savings and loan groups to review, determine needs, and provide guidance on loan application procedures and implementation in a timely manner.

As of March 31, 2023, the total outstanding loan balance for the social housing program in Dien Chau district reached 16 billion VND with 60 households borrowing capital - considered one of the leading localities in the province in implementing the program. The social housing loan program has helped households with housing difficulties to borrow capital to build new or repair houses to stabilize their housing and ensure quality of life.

Dmeet the demand for loans to buy social housing

In fact, the loan capital from the social housing program is very practical, contributing to ensuring social security. With preferential interest rates, the capital from the program has helped many policy families, civil servants, public employees, and low-income people have the conditions to buy and build stable housing, and work with peace of mind. According to the plan for 2023 and the following years, Nghe An continues to promote the growth of loan capital, meeting the urgent housing needs of low-income people in the area.

Households in Nam Anh commune, Nam Dan district borrow capital from the social housing program to build houses. Photo: Thu Huyen

Director of the Social Policy Bank of Dien Chau District, Mr. Nguyen Van Tuan said: The social housing loan program has the advantage of a long loan term, from 15 to 25 years, with a loan interest rate of 4.8%/year, thereby creating conditions for households to have time to repay the debt and pay bank interest. Borrowing households all comply with the repayment of debt and interest when due, and at the same time seriously participate in monthly savings deposits according to the operating convention of the Savings and Loan Group. Credit quality is always guaranteed, there is no phenomenon of procrastination or delay in paying interest and principal due.

To continue to effectively implement the Social Housing loan program according to Decree 100/2015/ND-CP, in the coming time, we will continue to advise the Board of Directors of the District Social Policy Bank to direct socio-political organizations and authorities at all levels to accelerate the implementation of social housing loans, new construction and repair of housing projects for low-income people, helping households with housing difficulties to ensure their living conditions, contributing to the good implementation of social security policies in the district.

Mr. Nguyen Van Tuan - Director of Social Policy Bank, Dien Chau district

Quy Chau District Social Policy Bank disburses loans to households in Chau Tien commune. Photo: Thu Huyen

Mr. Nguyen Van Vinh - Deputy Director of the Provincial Social Policy Bank said: To effectively implement the social housing loan program, the Social Policy Bank has coordinated with political and social organizations to strengthen propaganda and disseminate documents and instructions of the Social Policy Bank to help people better understand the regulations and conditions for borrowing capital...

Based on the list of registered subjects, the organizations coordinate with the People's Committees of communes and wards to organize the review, the bank staff appraise, and guide the completion of loan applications, ensuring publicity, transparency, and compliance with regulations. In the coming time, we will continue to train and update new documents for savings and loan groups, associations, organizations, etc. to promote the extended arms of the Social Policy Bank in guiding people when they need to borrow capital.