The State Bank has announced that, following the Government and Prime Minister’s directives in the resolutions and directives issued earlier this year, it has released Official Dispatch No. 4290 dated May 29, 2025. This dispatch instructs nine commercial banks to launch a preferential credit package exclusively for young people under 35 years old to purchase social housing.
The participating banks include: Agribank, BIDV, Vietcombank, VietinBank, HDBank, VPBank, Techcombank, TPBank, and MB.
The preferential loan package for young people under 35 to buy social housing at an interest rate of only 6.1%/year.
Accordingly, the State Bank has instructed these banks to urgently implement the program from May 31, 2025, across their systems while promoting communication to ensure people are aware of and can access the loan package when needed.
This program is part of the plan to implement Resolution 33/NQ-CP dated March 11, 2023, of the Government on developing social housing, worker housing, and renovating and rebuilding old apartments.
Specifically, for the first five years from the first disbursement date, customers under 35 years old borrowing to buy social housing will enjoy an interest rate 2% lower than the medium and long-term average lending rate in VND of the four state-owned commercial banks (Agribank, BIDV, Vietcombank, and VietinBank). Thus, the applicable interest rate until June 30, 2025, is 6.1%/year.
For the next ten years, the preferential interest rate will continue, remaining 1% lower than the above-mentioned average.
From July 1, 2025, onwards, the State Bank will announce the applicable interest rate for the participating banks every six months.
The program utilizes the self-mobilized capital of commercial banks that have registered to participate in lending for the development of social housing, worker housing, and renovation and rebuilding of old apartments under Resolution 33.
The State Bank emphasizes that, in addition to the exclusive benefits for young people under 35, banks need to comprehensively promote the social housing lending program in accordance with the spirit of the directives of the Government, the Prime Minister, and the Governor of the State Bank.
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