In recent times, the Bank for Social Policies (VBSP) of Cao Bang province has widely deployed a social housing loan program to districts and cities throughout the province. To better deploy and implement the preferential loan program for buying, renting and purchasing social housing; To build new or renovate or repair houses for living, the Bank for Social Policies of Cao Bang Province guides some basic contents of the social housing loan program for people to know.
1. Subjects eligible for loans: People with meritorious services to the revolution according to the provisions of law on preferential treatment for people with meritorious services to the revolution; Low-income people, poor and near-poor households in urban areas; Workers working at enterprises inside and outside the industrial park; Officers, professional non-commissioned officers, technical non-commissioned officers, professional soldiers, workers in agencies and units of the people’s police and people’s army; Cadres, civil servants and public employees according to the provisions of law on cadres, civil servants and public employees.
2. Loan conditions: Subjects who do not have to pay regular income tax; Must make monthly savings deposits at the Bank for Social Policies with a minimum deposit period of 12 months from the date of signing the Credit Contract with the Bank for Social Policies, the minimum monthly deposit level is equal to the average monthly principal repayment of the borrower; Have a source of income and ability to repay debt as committed to VBSP; Have minimum equity capital equal to 20% of the value of the social housing purchase or lease purchase contract and have minimum equity capital equal to 30% of the borrower’s cost calculation plan for new construction or renovation or repair. repairing houses to live in; Secure the loan with assets formed from the loan capital according to the provisions of law for loans to buy, lease-purchase social housing and secure the loan with the value of residential land use rights and assets. assets attached to residential land or other assets according to the provisions of law and regulations of the Social Policy Bank for new construction or renovation and repair of residential houses; Have a social housing purchase or lease purchase contract with the project investor whose project is included in the list of social housing construction projects under the social housing investment program and plan of the State. competent authority for approval; Have a Certificate of land use rights, ownership of housing and other assets attached to land in the district-level locality where permanent residence is registered, issued by a competent State agency according to the provisions of law on land.
3. Loan level: For loans to buy or rent-purchase social housing, the maximum loan level is equal to 80% of the value of the social housing purchase or lease-purchase contract; For loans to build new or renovate or repair residential houses, the maximum loan amount is equal to 70% of the estimated value or loan plan, not exceeding 500 million VND and not exceeding 70% of the value. assets securing the loan.
4. Loan interest rate: Loan interest rate is decided by the Prime Minister at the request of the Board of Directors of VBSP for each period; Current interest rate is 4.8%/year.
5. Loan term: Maximum no more than 25 years from the date of first loan disbursement.
Regarding loan applications, processes, procedures and other contents: Follow current regulations of VBSP. For further details, please contact the Department of Planning – Credit Operations, Bank for Social Policies branch of Cao Bang province, Group 2, De Tham ward, Cao Bang city, Cao Bang province. Phone: 0206.385.4610 for specific instructions.
Article author: Bui Toan (T/h)
Source: Social Policy Bank of Cao Bang province
