Extension of the Disbursement Period for the VND 30 Trillion Package Until the End of 2016

14:56, 11/07/2024

The State Bank of Vietnam (SBV) has just issued Circular 25/2016/TT-NHNN amending and supplementing Circular 11/2013/TT-NHNN on housing support loans in accordance with Resolution 02/NQ-CP.

Individuals and households purchasing, leasing, renting to own social housing; leasing, purchasing commercial housing; constructing new or renovating their own housing will have the 30 trillion VND package disbursement deadline extended until December 31, 2016, applicable to the following loans:

- Banks have signed credit contracts with customers before March 31, 2016;- Have been reported to the State Bank of Vietnam (SBV) by banks in regular reports with data up to May 10, 2016.

Simultaneously, the Circular stipulates the handling of disbursement for credit contracts signed before March 31, 2016 between banks and individual customer groups in the period from June 1, 2016 to August 1, 2016;

Banks apply the housing support loan interest rate announced by the SBV annually from the time of disbursement, but no longer than the loan interest rate application period prescribed in Clause 4, Article 4 of Circular 11;

Circular 25/2016/TT-NHNN takes effect from August 1, 2016.

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