10:00 03/07/2025

Central bank cuts lending rate for social housing buyers

Kỳ Phong

The interest rate of 5.9% per year is applied from July 1 to December 31, 2025.

The State Bank of Vietnam (SBV) has cut preferential interest rates to support young people purchasing social housing.

According to the central bank’s Document issued on June 24, individuals under 35 taking loans to purchase social housing will benefit from an annual interest rate of 5.9% during the first five years from the disbursement date.

Previously, the applicable rate until June 30 was 6.1% per year.

The new rate is applied from July 1 until December 31, 2025.

The rate is 2 percentage points lower than the average medium- and long-term lending rate in VND of the four state-owned commercial banks (Agribank, BIDV, Vietcombank and VietinBank).

For the following ten years, the rate will remain 1 percentage point lower than the same benchmark rate.

On the same day, the central bank also set preferential lending rates for loans governed by the Government's Resolution 33/NQ-CP on the development of social housing, worker housing, and the renovation and reconstruction of old apartment blocks. Specifically, buyers of homes in these projects will be eligible for loans at an interest rate of 5.9% per year, while project developers will be offered loans at 6.4% per year.