Quang Nam creates investment momentum for housing from policy credit

Mr. Nguyen Van Huy borrowed 200 million VND from the Transaction Office of the Social Policy Bank of Phu Ninh district to invest in a spacious house. Photo: QUANG VIET

Social housing loans and the elimination of temporary and dilapidated houses from the Vietnam Bank for Social Policies, Quang Nam branch, are helping people settle down in decent houses.

Contribute to eliminating temporary housing

Mrs. Trinh Thi Bay's household (Tan Phong village, Que Phong commune, Que Son) is a family with revolutionary contributions. Due to difficult circumstances, they have not been able to build a solid house. Recently, after the Tan Phong village Savings & Loan Group reviewed the loan program to eliminate temporary and dilapidated houses, Mrs. Bay was given a loan of 40 million VND by the Transaction Office of the Social Policy Bank (CSXH) of Que Son district, plus 60 million VND from the State for the temporary house elimination policy to invest in building a new house. "Thanks to the preferential interest rate loan, my family boldly built a new house to stabilize our lives," said Mrs. Bay.

Ms. Tran Thi My Hang - Deputy Director of the Transaction Office of the Social Policy Bank of Que Son district said that with the loan program to eliminate temporary and dilapidated houses, each household investing in a new house will receive a loan of 40 million VND from the policy bank; for house repairs, they will receive a loan of 20 million VND.

Borrowers are also supported by the State with funds to build new or repair houses for families with revolutionary contributions, poor and near-poor households... Up to now, the Transaction Office of the Bank for Social Policies in Que Son district has disbursed loans to demolish temporary and dilapidated houses for 6 customers with an outstanding debt of 200 million VND.

“The loan program to eliminate temporary and dilapidated houses has an interest rate of only 3%/year. Within the first 5 years after borrowing the loan, the borrower does not have to pay the principal to the policy bank.

“The loan to remove temporary and dilapidated houses lasts for 15 years, so the borrowers do not have to bear great pressure to repay the debt, have time to develop the economy , and gradually pay off the debt to the policy bank. We continue to coordinate with the district’s agencies, associations, and unions to disseminate policies and create favorable conditions for people to borrow preferential loans to invest in removing temporary and dilapidated houses,” said Ms. Hang.

In Tay Giang district, up to now, the District Social Policy Bank Transaction Office has disbursed more than 2.2 billion VND to 58 households borrowing from the loan program to eliminate temporary and dilapidated houses.

Mr. Vu Dinh - Director of the Transaction Office of the Social Policy Bank of Tay Giang District said that in the area, there are many ethnic minority households who have had to live in temporary houses for many years. The unit continues to care for and support people in Tay Giang District to get preferential loans, combined with support from the State and support from organizations and the Front to invest in new houses or repair houses, thereby settling down, developing livelihoods, and improving the quality of life.

Social housing loans

As of May 15, the Quang Nam branch of the Social Policy Bank has disbursed more than VND5.9 billion to 154 households for loans to invest in removing temporary and dilapidated houses. Along with this program, the provincial policy bank is implementing loans for social housing investment according to Decree 100 of the Government .

By the end of the first quarter of 2025, the program had a total outstanding debt of more than VND 574 billion with 1,797 customers still in debt. This is also a very practical preferential loan program, applicable to households with revolutionary contributions, low-income people, poor and near-poor households in urban areas; workers working in enterprises inside and outside industrial parks; officers, professional non-commissioned officers, technical officers, professional soldiers, workers in agencies and units of the People's Public Security and the People's Army; cadres, civil servants and public employees. The loan interest rate of this program is 6.6%/year, equal to the loan interest rate for poor households in the province.

Mr. Nguyen Van Huy's family - a veteran in Tam Dan commune (Phu Ninh) borrowed 200 million VND from the social housing loan program of the Phu Ninh District Social Policy Bank Transaction Office to build a new spacious house worth more than 600 million VND.

“The social housing loan program is very practical because the loan limit is high, the interest rate is low, and the repayment period is long, so it is convenient for investing in housing construction to settle down, develop the economy, and repay loans to policy banks,” said Mr. Huy.

Mr. Le Hung Lam - Director of the Bank for Social Policies, Quang Nam branch, said that social housing loans are a truly meaningful program, contributing to ensuring social security, meeting urgent housing needs, thereby promoting socio-economic development in the province.

With preferential interest rates, capital from the social housing loan program has helped many policy families, civil servants, public employees, and low-income people have the conditions to build stable housing and work with peace of mind.

“Currently, the demand for social housing investment is very high in Quang Nam. The Bank for Social Policies, Quang Nam branch, continues to promote the dissemination of social housing loans to the people. We create favorable conditions for people to access capital as quickly as possible,” said Mr. Lam.

Source: https://baoquangnam.vn/quang-nam-tao-luc-dau-tu-nha-o-tu-tin-dung-chinh-sach-3155270.html