Thursday,  Oct 18, 2018,18:33 (GMT+7) 0 0
Interest rate in home credit program kept at 5%
Tuesday,  Jan 2, 2018,16:31 (GMT+7)

Interest rate in home credit program kept at 5%

File photo of social residential blocks in HCMC. The interest rate in the VND30 trillion preferential credit program for low-income homebuyers is kept at 5% this year - PHOTO: TL

HCMC - The State Bank of Vietnam (SBV) has issued a decision ordering commercial banks to keep the interest rate in the VND30 trillion preferential credit program for low-income homebuyers at 5% in 2018.

According to Decision No.2735, the 5% rate is the same as the preferential rate applicable to this program last year and loans disbursed by December 31, 2016.

Regarding loans disbursed after December 31, 2016, clients are subject to commercial interest rates in line with their contracts with banks.

The central bank is mandated to set the interest rate for this home credit program on an annual basis in the final month of year.

The interest rate for this program was 6% in 2013. SBV deputy governor Nguyen Dong Tien on January 2, 2014 singed Decision No.21 cutting the rate to 5% and this rate has been kept unchanged until this year, according to Tuoi Tre newspaper.

Share with your friends:         
 
Business
World
Sport
Travel
 
Publication Permit No. 321/GP-BTTT issued on October 26, 2007
Deputy Editor-in-Chief: Pham Huu Chuong
Managing Editor: Nguyen Van Thang.
Assistant Managing Editor: Pham Dinh Dung.
Head Office: 35 Nam Ky Khoi Nghia St., Dist.1, Ho Chi Minh City, Vietnam. Tel: (84.28) 3829 5936; Fax: (84.28) 3829 4294.
All rights reserved.