Loans for social housing, students, job creation... are key credit programs that the Nghi Xuan District Social Policy Bank (Ha Tinh) is focusing on implementing.
The social housing loan program from the Vietnam Bank for Social Policies (VBSP) is helping many people in Nghi Xuan district, especially those with low incomes and average living standards, have the opportunity to build new houses, repair them, and realize their dream of owning a house.
Mr. Hoang Chi Cong's family (Tien Dien town) built a new house thanks to social housing loans.
Mr. Hoang Chi Cong's family, residing in Minh Quang residential group, Tien Dien town, has just put into use a new house from social housing loan capital.
Mr. Cong shared: "My wife and I have been married for 8 years and have been living with my parents in a cramped house. We have always wanted to build a new house to stabilize our lives, but both of us are freelancers with insignificant incomes, so we kept putting off all plans. Then through the media, we learned about the social housing loan package, so we boldly applied for a loan. Fortunately, Nghi Xuan District Social Policy Bank created conditions for us to borrow 450 million VND to build a new house. The loan term is long (up to 25 years), the loan interest rate is low (4.8%/year), so we are not under too much pressure to repay the debt."
It is known that Nghi Xuan is one of the localities that has effectively implemented the preferential loan program to buy and rent social housing; build new, renovate or repair houses for living according to Decree 100/2015/ND-CP and Decree 49/2021/ND-CP of the Government (referred to as social housing loans) with a total outstanding debt of over 37.5 billion VND with more than 100 customers benefiting.
Since the beginning of the year, the unit has disbursed over 14.6 billion VND to 35 households in need of social housing loans. Thereby, helping low-income people, poor and near-poor households in urban areas; workers working in enterprises inside and outside industrial zones; people with revolutionary contributions... have more resources to invest in housing and improve their lives.
The family of Ms. Tran Thi Luu Lien (Xuan Hong commune) has been borrowing student loans to raise 3 children.
Currently, Nghi Xuan District Social Policy Bank is also focusing on the student loan program according to Decision No. 157/2007/QD-TTg dated September 27, 2007 of the Prime Minister. To effectively implement the program, the bank has advised the Board of Directors of the District Social Policy Bank to direct relevant units to review the loan needs of students in the whole area. At the same time, it has coordinated with political and social organizations entrusted with disseminating information to the people about this humanitarian program. From here, many students in difficult circumstances in 17 communes and towns have received preferential loans to cover their study expenses and continue studying at schools.
The family of Ms. Tran Thi Luu Lien (born in 1969), residing in village 1, Xuan Hong commune, has 3 children who are studying at university and have all borrowed capital from the student loan program. For Ms. Lien, student loan is a credit program with profound humanitarian meaning. "My husband passed away early, so I have to raise 3 children alone, so it is very difficult. The family's main source of income is only a few fields of rice, so I cannot afford to send my children to university without support from the bank." - Ms. Lien said.
The 2023-2024 school year has begun. At this time, Nghi Xuan District Social Security Bank is promoting communication, receiving loan applications and quickly completing procedures, disbursing to customers in accordance with regulations, not allowing policy exploitation. Accordingly, the current loan amount is 4 million VND/month/student; the normal interest rate of the program is 6.6%/year, but loans from January 1, 2022 to December 31, 2023 are supported with an interest rate of 2%/year according to Decree 36/2022/ND-CP of the Government.
The total outstanding debt of Nghi Xuan District Social Policy Bank currently reaches over 470.6 billion VND.
It is known that the outstanding loan balance of the Student Loan Program of Nghi Xuan District Social Policy Bank currently reaches 13.4 billion VND with 319 students benefiting. In September 2023 alone, this unit disbursed nearly 3 billion VND with 95 student loans. From now until the end of the year, the unit strives to disburse about 6 billion VND from this program, helping students in difficult circumstances to conquer their dream of knowledge.
Mr. Dong Viet Dung - Deputy Director in charge of Nghi Xuan District Social Policy Bank said: "Currently, in addition to the social housing and student loan program, Nghi Xuan District Social Policy Bank is accelerating the disbursement of other key credit programs such as: clean water - environmental sanitation loans, job creation loans...
Accordingly, the total outstanding debt of the branch to date has reached over 470.6 billion VND with nearly 8,000 customers having outstanding debt. In general, the loan capital is guaranteed to be used by the right subjects, used by customers for the right purposes and with high efficiency, contributing to promoting local socio-economic development.
Thu Phuong
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