BIDV announces detailed real estate loan package
The Bank for Investment and Development of Viet Nam (BIDV) announced details of a 30 trillion VND (1.43 billion USD) loan package signed with the Ministry of Construction this week to support social housing development during the 2013-15 period.
According to the agreement, individuals would receive 19.5 trillion VND in loans to purchase or rent social houses. The loans' interest rate would be 90 percent of what the bank would normally charge. The maximum loan would be equal to 85 percent of the house's value with a maximum term of 15 years.
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