Vietnam Bank for Social Policies Home Loans: Building Dreams

Mr. Ba, a hardworking man living in the outskirts of Hanoi, had saved for years but only managed to afford a small plot of land. His dream of building a decent home for his family seemed as distant as “reaching for the stars.” Then, following a neighbor’s advice, he approached the Vietnam Bank for Social Policies (VBSP). Unexpectedly, the door to a secure and prosperous future opened from there…

What are VBSP Home Loans?

The VBSP was established as a support system for disadvantaged individuals seeking to improve their lives. Among its programs, the home loan program is one of the most practical and has garnered significant attention from the public. So, what exactly are VBSP home loans?

Vietnamese people receiving land use right certificates and loan money from VBSP

This program offers preferential loans with lower interest rates compared to commercial banks. It caters to policy beneficiaries, poor and near-poor households, families of policy beneficiaries, war veterans, ethnic minorities, and others, providing them access to capital for building or renovating homes and stabilizing their lives.

Frequently Asked Questions about VBSP Home Loans

Who is Eligible for a Loan?

Many people wonder if they qualify for a loan. According to current regulations, eligible borrowers include:

• Poor and near-poor households
• Families of policy beneficiaries
• War veterans
• Ethnic minorities residing in socio-economically disadvantaged areas
• Households and individuals subject to relocation or resettlement
• Households and individuals affected by natural disasters, fires, etc.

Is the Application Process Complicated?

“Bank loan applications are notoriously complicated and expensive” – this is a common concern for many. However, the loan application process at VBSP has been simplified to the greatest extent possible to facilitate access for the public. Required documents include:

• Loan application form
• National ID card/Citizen ID card/Passport
• Household registration book
• Documents proving the purpose of the loan
• Income verification documents (if any)

What is the Maximum Loan Amount?

The maximum loan amount varies depending on the borrower and the purpose of the loan. Typically, the maximum loan for home construction does not exceed 60 million VND per household, with a maximum loan term of 20 years.

VBSP staff consulting people about loan programs

What are the Interest Rates?

Interest rates for VBSP loans are consistently lower than commercial loan rates, ranging from 4.5%/year to 6.5%/year. Borrowers also benefit from various interest rate subsidy policies.

VBSP Home Loan Rate Table (For Reference)

Important Notes When Applying for a VBSP Home Loan

• Carefully review the loan regulations and conditions
• Prepare all required documents
• Use the loan for its intended purpose
• Repay the loan on time to avoid bad debt

“Settle Down” to “Succeed” – A Story of a Dream Home

Mr. Ba’s story is just one of millions of Vietnamese who have benefited from the VBSP’s home loan program. Since having a new home, his children can focus on their studies, and he and his wife are healthy and happy with their family.

A happy family in their newly built home

“Home is a warm nest, a peaceful haven after a long day’s work.” The VBSP’s home loan program has been and continues to fulfill the dreams of homeownership and prosperity for millions of Vietnamese people.

For loan consultation and support, please contact:

Phone Number: 0968239999

Email: [email protected]

Address: No. TT36 – CN9 Road, Tu Liem Industrial Park, Phuong Canh Ward, Nam Tu Liem District, Hanoi.