Interest rate for housing support loans to be lifted to 5 percent in 2023

SGGP 14/12/2022 16:52

From the beginning of 2023, commercial banks will increase the interest rate from 4.8 percent a year to five percent per year applying for loans used for purchasing, and leasing social housing projects and commercial ones having an area of under 70 square meters and VND15 million (US$634) per square meter following a new decision of State Bank.

Interest rate for housing support loans to be lifted to 5 percent in 2023

The State Bank of Vietnam has just issued Decision No.2018/QD-NHNN on applying interest rates of commercial banks in 2023 for loans supporting housing projects purchasing in accordance with regulations at Circular No.11/2013/TT-NHNN dated May 15, 2013, Circular No.32/2014/TT-NHNN dated on November 18, 2014, and Circular No.25/2016/TT-NHNN dated on July 29, 2016.

The decision will be valid from the beginning of next year to replace Decision No.1956/QD-NHNN dated December 3, 2021 of the State Bank Governor on the interest rate of commercial banks for outstanding housing support loans in 2022 in accordance with Circular No. 11/2013/TT-NHNN, Circular No. 32/2014/TT-NHNN and Circular No. 25/2016/TT-NHNN.

Accordingly, the interest rate of commercial banks for outstanding housing support loans in 2023 will be lifted to five percent per year, an increase of 0.2 percent point over 2022 and 2021.

By Nhung Nguyen- Translated by Huyen Huong