Policy credit helps people "settle down"

Policy credit helps people

Mr. Cao Nam Hung's family in Hoang Hoa commune, after accessing the Social Housing Loan Support Program, built a spacious house.

Social housing loans are a very practical program, with preferential interest rates, capital from the social housing loan program has helped many policy families, civil servants, public employees, and low-income workers have the conditions to build houses. Mr. Cao Nam Hung's family in Hoang Hoa commune is accessing the Social Housing Loan Support Program. Both husband and wife are civil servants working in the commune, but because of low income, they do not have the conditions to build a house. For many years, his family of 4 has lived with his parents. As the children grow up, his family really needs more space to live. Therefore, he always wishes to have his own house to improve his living standards. Knowing about the social housing loan support program, after finding out information, he registered for a social housing loan. Through evaluation, his family was supported with a loan of 500 million VND, along with the amount borrowed from relatives to build a new house. By the end of 2024, the new spacious, fully furnished house will be completed.

These days, Mr. Nguyen Duc Lien's family in Hoang Hoa commune is urgently completing the new house to put into use before the rainy season. Previously, his family lived in an old house that was built nearly 30 years ago and was seriously degraded. As a 4/4-class disabled veteran, he was guided by the staff of the Hoang Hoa Social Policy Bank on the loan application procedure for 500 million VND under the social housing loan program. Together with the accumulated money, in just about 1 month, his family will be able to live in a new house. Mr. Lien excitedly said: "The loan procedures were guided in great detail by the staff of the Hoang Hoa Social Policy Bank, so I did not encounter any difficulties in accessing capital. If there were no preferential loan policy, I do not know when I would be able to build a spacious house like this."

Director of the Transaction Office of the Social Policy Bank of Hoang Hoa, Le Thanh Son, said: “Currently, customers who borrow money to buy social housing pay interest monthly and the principal quarterly. Based on the income of the family, customers can repay the debt early. When there is a need to borrow money to buy social housing, people can go to the commune transaction point on the monthly transaction day to access information, or go directly to the transaction office where they live.”

According to Decree No. 100/2024/ND-CP of the Government , the subjects eligible for loans are people with revolutionary contributions, relatives of martyrs who are eligible for housing improvement support; poor and near-poor households in rural and urban areas, areas frequently affected by natural disasters and climate change; low-income people in urban areas; workers and laborers working at enterprises, cooperatives, and cooperative unions inside and outside industrial parks. In addition, the subjects are officers, non-commissioned officers, professional soldiers of the People's Armed Forces, police, civil servants, workers and defense officials serving in the army; cadres, civil servants, public employees... The maximum loan amount is 80% of the value of the house purchase or hire-purchase contract. For new construction or renovation and repair of houses, the maximum loan amount is 70% of the estimated value, not exceeding 1 billion VND. The maximum loan term is 25 years from the date of disbursement of the first loan.

By mid-July 2025, Hoang Hoa Social Policy Bank had 123 customers borrowing capital from the social housing program with a total outstanding debt of over 38 billion VND. Having access to low-interest loans with long loan terms not only helps them solve the housing problem, but also contributes to stabilizing social security, maintaining security and order, and promoting local economic development.

For many households, owning their own home is not an easy task. Therefore, focusing on disbursing preferential loans from the Vietnam Bank for Social Policies is an opportunity to help thousands of households, especially low-income workers in many localities, realize their dream of "settling down and having a career".

Article and photos: Khanh Phuong

Source: https://baothanhhoa.vn/tin-dung-chinh-sach-giup-nguoi-dan-an-cu-255132.htm