Agribank is implementing solutions to support people and businesses in accessing preferential loans, promoting disbursement of loans for social housing, worker housing and renovation of old apartments.
This is to contribute to the implementation of the Project of 1 million social housing apartments in the period 2021 - 2030.
Social housing project in Bank Hill Residential Area (Ha Long City, Quang Ninh Province) with credit provided by Agribank.
Immediately after the State Bank implemented Resolution 33/NQ-CP of the Government with a credit program of 120,000 billion VND; to support and create conditions for project investors and home buyers to quickly access preferential credit capital, meeting the housing needs of low-income people, Agribank allocated 30,000 billion VND to implement a loan program for social housing, worker housing, and projects to renovate and rebuild old apartments, lasting until December 31, 2030.
The preferential interest rate of the program is adjusted every 6 months. Currently, the interest rate applied until December 31, 2024 for investors is 7.0%/year and for home buyers is 6.5%/year.
The preferential interest rate period for investors is 3 years from the disbursement date but not exceeding the loan term in the initial loan agreement, and for home buyers it is 5 years.
Up to now, of the total VND 1,344 billion in credit capital that banks have disbursed to investors and home buyers, Agribank leads in disbursement turnover with nearly VND 650 billion for project investors and more than VND 40 billion for social housing buyers.
Agribank has approved the following projects: Thong Nhat Smart City Social Housing Project in Yen Phong District, Social Housing Project in Pho Moi Town, Que Vo District, Bac Ninh Province; Social Housing Project in the Bank Hill Residential Area in Hong Hai Ward and Cao Thang Ward, Ha Long City, Quang Ninh Province; Social Housing Project in Duy Tien Town, Ha Nam Province; Social Housing Project in Rach Gia City, Kien Giang Province... with a total committed loan amount of more than 1,500 billion VND.
In the second quarter of 2024 alone, Agribank approved credit for three social housing projects and increased disbursement by more than VND 150 billion to projects and home buyers.
It is expected that in the coming time, Agribank will continue to provide more than 1,500 billion VND in credit to 5 new social housing projects in the localities: Binh Dinh, Hai Phong, Lam Dong and Thai Nguyen.
Although there are still difficulties in the implementation of the preferential credit program, which need to be resolved by ministries, branches and localities, the implementation efforts and initial results of Agribank have contributed to removing difficulties and promoting the real estate market to develop safely, healthily and sustainably, along with risk control; focusing on social security, creating opportunities for low-income people to own quality housing that is suitable for economic conditions.
Currently, the State Bank is reporting to the Government a draft Resolution adjusting the content of the preferential credit program for social housing loans in the direction of reducing interest rates for home buyers by 3-5%.
When the policy takes effect, Agribank will step up propaganda work so that many people can access preferential capital to buy social housing.
At the same time, continue to proactively approach new social housing projects according to the approved list of the Ministry of Construction; thereby accompanying and supporting enterprises with investment and construction capital.
Source: https://www.baogiaothong.vn/agribank-chu-dong-tiep-can-khach-hang-day-manh-giai-ngan-cho-vay-nha-o-xa-hoi-192240807105017338.htm
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