The Vietnam Bank for Social Policies (VBSP) is ready for disbursing VND1 trillion this year to provide loans for buyers of social houses, which may start in a few weeks, according to a source from the bank.
The bank’s deputy general director Nguyen Van Ly was quoted by Dan Tri newspaper as saying that procedures for the programme have been carried out.
According to Ly, the bank has prepped for the lending programme. When the Ministry of Finance transfers the money, which is in the coming weeks, loans can start flowing to borrowers. The bank has had VND500 billion in hand and is waiting for another VND500 billion from the State budget.
The preferential rate for this year should be 4.8 percent, but a final say on this rate will rest with the government, Ly said.
Under Decree 100/2015/ND-CP, individual and household borrowers of concessional loans of the VBSP are required to make monthly deposits at the bank in 12 months minimum and with the amounts demanded by the lender. Regarding this rule, Ly said borrowers can get loans and then make deposits or the other way round, but the bank will provide lending products first.
He added that such deposits are not for clients to get interest but to save money for the lending programme.
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