Home buyers get interest refund when borrowing from 30,000 billion VND package

Governor of the State Bank of Vietnam (SBV) Le Minh Hung requested that banks complete the implementation of interest refunds to customers or offset them for customers in the two most recent interest collection periods after receiving recapitalization from the SBV by September 30 at the latest.

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Governor Le Minh Hung has just issued document No. 5906 requesting banks implementing the Housing Support Loan Program under Resolution 02/NQ-CP to urgently issue guidance documents on housing support loans in the system according to the regulations of the State Bank and relevant laws.

Provide guidance, explanation, and complete and correct dissemination of policy content to loan customers and relevant parties during the implementation process.

For loans disbursed to individual customers and households to buy, rent, or hire-purchase social housing; rent or buy commercial housing; build new or renovate or repair their own houses from June 1 to the effective date of Circular 25 (August 1), they must meet the program's regulations and be eligible to apply the housing support loan interest rate as prescribed in Clause 1, Article 2 of Circular 25/2016/TT-NHNN.

Home buyers of the 30,000 billion VND package will have their interest refunded.

Banks must refund the interest difference or offset it to customers by September 30 at the latest. Banks must complete the interest refund or offset it to customers by the latest 2 interest collection periods after being refinanced by the State Bank.

Based on the synthesis of reports from banks on loan commitment data up to May 10, the State Bank has submitted to the Prime Minister on the subjects and amount of extended re-lending disbursement and has been approved by the Prime Minister.

Therefore, for the commitment to lend to customers who are individuals or households to buy, rent, or hire-purchase social housing; rent or buy commercial housing; build new or renovate or repair their own housing exceeding the amount reported to the State Bank as of May 10, 2016, banks will balance their own capital sources to lend according to the credit contracts signed with customers with preferential interest rates according to the Program's regulations.

In case of detecting acts of policy exploitation, the State Bank will take measures to handle according to the provisions of law.

Previously, according to the plan submitted to the Government, the State Bank of Vietnam allowed to extend the disbursement of refinancing for credit contracts signed before March 31 for individual customers and households borrowing to buy, rent, hire-purchase houses, build new houses, renovate and repair their houses (individual customers) until December 31.

According to danviet