Circular No. 20/2021/TT-NHNN amending and supplementing certain provisions of Circular No. 25/2015/TT-NHNN dated December 9, 2015, issued by the Governor of the State Bank of Vietnam guiding preferential loans to implement social housing policies.

CIRCULAR

Provincial People's Committees set specific pricesamending and supplementing certain articles of 19/2018/TT-BGTVT) which has been amended and supplemented by Clause 7, Article 1 of Circular No. 08/2024/TT-BGTVT dated April 4, 2024, issued by the Minister of Transport, amending and supplementing certain articles of Circular No. 19/2018/TT-BGTVT 25/2015/TT-NHNN dated December 9, 2020 2015 of Governor The State Bank of Vietnam guides preferential loans for implementing social housing policies

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Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Law on Housing dated November 25, 2014;

Pursuant to Decree No. 16/2017/NĐ-CP dated February 17, 2017 of the Government on functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 100/2015/ND-CP dated October 20, 2015 of the Government on the development and management of social housing; Decree No. 49/2021/ND-CP dated April 1, 2021 of the Government amending and supplementing certain provisions of Decree No. 100/2015/ND-CP dated October 20, 2015 of the Government on the development and management of social housing;

At the proposal of the Director of the Department of Economic Credit;

The Governor of the State Bank of Vietnam issues this Circular amending and supplementing certain articles of Circular No. 25/2015/TT-NHNN dated December 9, 2015 of the Governor of the State Bank of Vietnam guiding preferential loans for implementing social housing policies.

Article 1. Amending and supplementing certain articles of Circular No. 25/2015/TT-NHNN

1. Amending and supplementing Clause 1 of Article 1 as follows:

"1. This Circular guides the provision of preferential loans for implementing social housing policies for credit institutions designated in accordance with Decree No. 100/2015/ND-CP dated October 20, 2015 of the Government on the development and management of social housing and Decree No. 49/2021/ND-CP dated April 1, 2021 of the Government amending and supplementing certain provisions of Decree No. 100/2015/ND-CP."

2. Amending and supplementing Clause 2 of Article 2 as follows:

"2. Borrowers for new construction or renovation and repair of houses as stipulated in Clause 1, Article 16 of Decree No. 100/2015/ND-CP."

3. Amending and supplementing Clause 4 of Article 6 as follows:

"4. For borrowers who take out preferential loans for new construction or renovation and repair of their own houses, the maximum loan amount shall be 70% of the estimated budget or loan plan, not exceeding 500 million VND and not exceeding 70% of the value of the collateral securing the loan."

4. Amending and supplementing Clause 4 of Article 7 as follows:

"4. For borrowers specified in Clause 2 of this Circular for new construction or renovation and repair of houses: The loan term shall be agreed upon between the bank and the borrower based on the borrower's ability to repay, and shall not exceed 25 years from the date of the first loan disbursement."

5. Amending and supplementing Clause 2 and Point a of Clause 3 of Article 10 as follows:

"2. The preferential loan interest rate for borrowers for new construction or renovation and repair of houses shall be determined and announced by the State Bank during each period.

3. The preferential loan interest rates stipulated in Clauses 1 and 2 of this Article shall comply with the principle that:

a) They shall not exceed 50% of the average lending interest rate of commercial banks in the same period;"

6. Amending and supplementing Clause 2 of Article 16 as follows:

"2. The Monetary Policy Department:

Shall be responsible for advising the Governor of the State Bank on determining and announcing the preferential lending interest rate for credit institutions designated for borrowers as stipulated in Clauses 1 and 2 of Article 2 of this Circular."

  Article 2. Replacing and abolishing certain articles and forms of Circular No. 25/2015/TT-NHNN

1. Replacing Form 01 and Form 02 with Form 01 and Form 02 issued together with this Circular.

2. Abolishing Clause 3 of Article 5, Clause 3 of Article 6, and Article 13.

Article 3. Responsibility for implementation

The Heads of the Office, the Director of the Department of Economic Credit, and the Heads of units under the State Bank of Vietnam; designated credit institutions; and borrowers of social housing support loans are responsible for implementing this Circular.

 Article 4. Implementation provisions

This Circular takes effect from January 20, 2022./.