HCMC – The State Bank of Vietnam (SBV) has reduced the interest rate on loans for social housing purchases to 5.9% per annum for buyers under 35, down from 6.1%.
The new rate, which took effect on July 1, applies to loans made by four state-run commercial banks – Agribank, BIDV, Vietcombank, and VietinBank.
For the first five years, borrowers will receive a rate two percentage points lower than the banks’ average medium- and long-term lending rate, followed by a rate one percentage point lower for the next five years.
The SBV also set specific interest rates for social and worker housing projects, offering a 5.9% annual rate for homebuyers and 6.4% for project developers.
The policy is valid through the end of 2025.
