On the afternoon of November 7th, Mr. Nguyễn Đức Lệnh, Deputy Director of the State Bank of Vietnam Zone 2, overseeing Ho Chi Minh City and Dong Nai Province, announced that the Vietnam Bank for Social Policies (VBSP) in Dong Nai has reduced the interest rate on social housing loans. The rate has been lowered from 6.6%/year to 5.4%/year for all customers with outstanding loans for purchasing or leasing social housing.
“From a professional standpoint, this adjustment aligns with regulations. However, from a management perspective, it holds significant and practical benefits for citizens, who are the primary beneficiaries of social housing policies,” stated Mr. Lệnh.
VBSP Dong Nai reduces social housing loan interest rate from 6.6%/year to 5.4%/year
Mr. Lệnh further explained that, in accordance with the Decree on lending interest rates and transitional provisions, VBSP Dong Nai has implemented the reduced rate of 5.4%/year for 1,255 customers, with a total outstanding debt of over 531 billion VND (as of October 2025). This initiative provides motivation and joy to many citizens who are policy beneficiaries leasing, purchasing, or buying social housing through VBSP in the province.
This reduction directly benefits and enhances the quality of life for policy beneficiaries purchasing or leasing social housing. Lowering the interest rate by 1.2%/year not only reduces debt repayment pressure but also allows borrowers to allocate more income to improving their living standards, thanks to lower interest payments.
Furthermore, this move aligns with practical needs and facilitates easier access to capital for housing. Adjusting interest rates, expanding lending conditions, and increasing low-income thresholds, alongside other housing supply solutions, create a comprehensive approach. This ensures citizens can effectively access policies and social policy capital to establish their homes.
“In terms of costs, reduced interest rates lower borrowing costs and decrease debt repayment amounts (principal and interest). This ensures customers can repay both principal and interest while maintaining a better quality of life: owning a home and covering household expenses. In this sense, the adjustment offers dual benefits and drives development, aiming to ensure social welfare and enhance growth quality,” added Mr. Lệnh.
Previously, the People’s Committee of Dong Nai Province announced a list of 8 social housing and worker housing projects eligible for preferential loans from the 120 trillion VND credit program. This program supports social housing, worker housing, and the renovation or reconstruction of apartment buildings. It serves as a foundation for banks to provide preferential loans to developers and homebuyers, promoting the development of social housing in the province.
