Decision 2690/QD-NHNN regulating interest rates for home loans
On December 18, 2024, the Governor of the State Bank of Vietnam issued Decision 2690/QD-NHNN on the interest rate applicable in 2025 for outstanding loans for housing support. Accordingly, the preferential interest rate is set at 4.7%/year. The decision applies to loans under Circular 11/2013/TT-NHNN, Circular 32/2014/TT-NHNN and Circular 25/2016/TT-NHNN.
17 commercial banks participate in supporting interest rates for home loans
Below are commercial banks applying preferential interest rates of 4.7%/year according to Decision 2690/QD-NHNN:
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)
Vietnam Bank for Agriculture and Rural Development (Agribank)
Saigon - Hanoi Commercial Joint Stock Bank (SHB)
Southeast Asia Commercial Joint Stock Bank (SeABank)
Tien Phong Commercial Joint Stock Bank (TPBank)
Vietnam Export Import Commercial Joint Stock Bank (Eximbank)
Public Commercial Joint Stock Bank (PVcomBank)
Orient Commercial Joint Stock Bank (OCB)
Nam A Commercial Joint Stock Bank (NamABank)
LienVietPostBank
Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank)
National Commercial Joint Stock Bank (NCB)
Vietnam International Commercial Joint Stock Bank (VIB)
Vietnam Prosperity Joint Stock Commercial Bank (VPBank)
Saigon Commercial Joint Stock Bank (SCB)
Principles of home loan in 2025
Housing support loans in 2025 must ensure the principles prescribed in Circular 11/2013/TT-NHNN (amended by Circular 25/2016/TT-NHNN):
Recapitalization from the State Bank: The State Bank conducts recapitalization to support commercial banks in lending. The maximum disbursement period shall not exceed 36 months from the effective date of Circular 11/2013/TT-NHNN.
Applicable objects:
Individuals and households buy, rent, or lease-purchase social housing.
Customers buy, rent commercial housing or renovate, build new housing.
Disbursement principles:
Maximum disbursement time is until December 31, 2016 for customers eligible for support under Circular 11/2013/TT-NHNN.
Enterprises investing in social housing construction projects or converting project functions are supported to borrow up to 30% of refinancing sources.
Bank responsibilities:
Review, appraise loan applications and be responsible for loan decisions.
Ensure disbursement to the correct borrower and purpose.
Customer responsibilities:
Use loan for the right purpose.
Repay full principal and interest on time according to the credit contract.
State Bank recapitalization
The State Bank disburses recapitalization based on outstanding balances of credit contracts signed before March 31, 2016. Commercial banks must periodically report data up to May 10, 2016 to ensure recapitalization according to regulations.
Decision 2690/QD-NHNN creates favorable conditions for people and businesses to access preferential capital sources, contributing to the development of social housing and stabilizing the real estate market.
