HÀ NỘI — The State Bank of Vietnam (SBV) has announced new preferential interest rates effective from July 1 until December 31, 2025, to support young people under 35 purchasing social housing.

According to document No 5312/NHNN-CSTT, individuals under 35 taking loans to purchase social housing will benefit from an annual interest rate of 5.9 per cent during the first five years from the disbursement date, which is 2 percentage points lower than the average medium- and long-term lending rate in Vietnamese đồng (VNĐ) 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.

This preferential policy aims to help the young workforce access affordable housing in major urban centres. Previously, the applicable rate until June 30 was 6.1 per cent per year. From July onwards, the central bank will publish updated rates for the preferential period every six months.

Additionally, SBV has also set preferential lending rates for loans governed by 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 cent per year, while project developers will be offered loans at 6.4 per cent per year.

The loans must arise from disbursements made between July 1 and December 31, 2025, and be financed through commercial banks that have registered to participate in the programme.

The central bank has instructed commercial banks to promptly roll out this programme across their networks and step up communication efforts to ensure that eligible customers can access information in a timely manner and proactively apply for loans. — VNS