TPO - The Ministry of Construction said that the proposal to pilot a new preferential loan package for borrowers to buy social housing by Vingroup and Techcombank has many similarities with the current VND120,000 billion loan package.
The Ministry of Construction has just proposed to the Prime Minister to increase the loan term and lower the interest rate for social housing loans after Vingroup and Techcombank proposed a new preferential credit package for social housing with a loan interest rate of 4.8%/year and a loan term of 30 years.
Previously, in a document sent to the Ministry of Construction, Vingroup and Techcombank proposed a new credit program for social housing buyers.
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The Ministry of Construction proposed to lower interest rates for social housing loans (photo: Nhu Y). |
According to the proposal, the borrowers are individuals who are eligible to buy social housing according to the list verified and provided by the project investor.
Vingroup and Techcombank proposed that the loan interest rate for social housing buyers be equal to the social housing loan interest rate applied by the Social Policy Bank from time to time. Currently, this interest rate is about 4.8%/year and is fixed for the first 5 years.
The loan term is about 30 years, the collateral for the social housing loan is the social housing projects. The maximum social housing loan is up to 100% of the value of the social housing purchase contract.
To implement this preferential loan program for social housing purchases, Vingroup and Techcombank proposed that the State Bank consider granting additional credit growth limits compared to normal credit growth so that credit institutions can proactively expand their business to generate income to offset the interest rate difference spent to support people to buy social housing.
With the pilot program just proposed by Vingroup and Techcombank, the financial source to support interest rates for social housing buyers is about VND8,010 billion. Therefore, Techcombank proposed to consider granting additional credit limits for 5 years from the start of the pilot.
The Ministry of Construction said that the current preferential package of 120,000 billion VND for social housing development has a loan interest rate of 7.5%/year for home buyers, and 8%/year for social housing project investors. The preferential loan interest rate is applied for 5 years. Every 6 months, the State Bank will adjust the loan interest rate once based on the average loan interest rate of four state-owned commercial banks.
According to the Ministry of Construction, the proposal to pilot a new preferential loan package for borrowers to buy social housing by Vingroup and Techcombank has many similarities with the current VND120,000 billion loan package, however, the interest rate, loan term, and loan amount are different.
The Ministry of Construction proposed that the Prime Minister direct the State Bank to encourage more commercial banks (in addition to the group of four state-owned commercial banks) to participate in the preferential loan package of VND120,000 billion; continue to consider increasing the preferential loan term, and reduce the loan interest rate of the VND120,000 billion package to a level 3-5% lower than the normal loan interest rate so that workers and low-income people have the opportunity to borrow capital to buy houses.
The Ministry of Construction also proposed that the Prime Minister assign the State Bank to study and decide on credit growth limits for banks participating in preferential loans for social housing purchases as proposed by Techcombank.
Source: https://tienphong.vn/bo-xay-dung-noi-gi-goi-vay-nha-xa-hoi-lai-suat-thap-vingroup-techcombank-de-xuat-post1655607.tpo
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