On January 02, 2014, the State Bank of Bank issued the Decision No. 21/QD-NHNN providing the interest rate of commercial bank applied in 2014 for loan’s outstanding balance for house assistance in accordance with the Circular No. 11/2013/TT-NHNN date May 15, 2013.
Accordingly, The State Bank shall annually announce the lending interest rate for housing support loans granted by banks to clients and apply it to outstanding loans in the year And the interest rate applied to subjects that purchase, rent or rent-purchase social houses and rent or purchase commercial houses with a floor area of under 70m2 and a sale price of under 15,000,000 VND/m2 is 5% per annum instead of 6% per annum as in previous regulations.
Individuals and organizations supported to get the loans must satisfy some consistent conditions. Clients
being individuals who borrow loans for purchasing, renting or rent-purchasing social houses or renting or purchasing commercial houses each with a floor area of under 70m2 and a sale price of under 15,000,000 VND/m2 must have a contract on purchase, rent or rent-purchase of social house or a contract on rent or purchase of commercial house with the investor; borrow loans to pay amounts not yet paid for the purchase, rent or rent purchase of social house or for rent or purchase of commercial house; have a request for loans for purchase, rent or rent-purchase of social house or rent or purchase of commercial house and committing that the client as well as members of the client’s household have not yet borrowed support loans from banks for purchase, rent or rent-purchase of houses and have sufficient minimum capital to participate in the loan plan.
This Decision takes effect on the signing date
