Home Loan Support Programme Deployed
To effectively execute the Prime Minister’s guidance and Circular No. 25/2016/TT-NHNN of the State Bank of Vietnam (SBV), the Governor of the SBV issued Document No. 5906/NHNN-TD to request banks to deploy home loan support programme as specified in the Government’s Resolution 02/NQ-CP.
Accordingly, the SBV will urgently issue directive documents concerning home loans according SBV regulations and the law. As for loans disbursed to individual customers and households to purchase, lease or hire purchase social housing; lease and purchase commercial housing; build, renovate or repair houses from June 1, 2016 to the effective date of this Circular (August 1, 2016) and meet the programme regulations and conditions for home loans specified in the Clause 1, Article 2 of the Circular 25/2016/TT-NHNN, commercial banks shall refund the difference in interest rates or offset it for customers prior to September 30, 2016 at the latest.
According to reports on loan pledges as of May 10, 2016 from commercial banks at the service, the central bank submitted to the Prime Minister on the scope and value of extended refinancing and got approval. As a result, banks will self-balance their financial sources to provide loans with preferential interest rate as signed with customers according to the programme.
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