Borrowing money from low-interest banks to buy a home now is no longer a foreign matter for the vast majority of the Vietnamese people. However, how low are interest rates called, are the concessional lending programs of commercial banks lending money to buy homes the same?
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Below we would like to introduce you some useful information about low-interest bank loans as well as Top low-interest rate mortgage lenders.
Demand for low-interest loans from commercial banks to buy houses
According to statistics, the country now has more than 90 million people, of which about 25% of the population equivalent to about 22.5 million people have no house to live. The fact that people are not eligible to buy houses for the living. It is commonplace, especially in big cities. In Ho Chi Minh City, by the beginning of 2017, the city still has more than 23% of the population, equivalent to about 3/13 million people have no house to live.
Therefore, to meet the demand of living in the living and living of their own many people accept bank loans to buy a house. This is considered to be the most effective and feasible solution at the present time.
According to a preliminary survey of low-interest financial home loan packages from commercial banks, interest rates for home mortgages are currently around 6-8% per annum for the first half of the year and around 10-12. % / year after the expiration of the incentive period (this rate is equal to the preferential interest plus 3.5-4% interest rate).
Depending on the case and the loan application, commercial banks have adjusted their lending rates to increase or decrease. Criteria for assessing mortgage rates include the security of collateral; The age of the customer … Where the customer is older or their security is not high; Unstable occupations, your mortgage rates will automatically rise to limit risk.
In addition, since the beginning of 2017, state-owned banks have applied low-interest rates on housing loans for state employees at only 4.7 percent per annum. This interest rate is significantly lower than the average level of 1.3-3.3% per year, on the other hand, the maximum loan period is up to 25 years with the largest amount of about VND500 million. This is considered a preferential policy of the state reserved for low-income civil servants so that they have the opportunity to settle down.
Top 3 banks that own the best interest rate mortgage loan in 2017
Bank for Investment and Development of Vietnam BIDV
In 2017, BIDV is considered as the largest bank brand in Vietnam. BIDV provides low-interest loans for home loans up to 100% of demand for loans, at an interest rate of 7% per annum and a maximum term of 20 years.
BIDV’s lending procedure is quite simple and convenient and the interest rate is calculated on the declining debt, thus reducing the repayment pressure for borrowers.
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Techcombank Vietnam Techcombank
Techcombank is the bank with the highest level of investment banking loans in Vietnam is about 24 billion (17%).
The maximum amount you can borrow to buy a home is up to 10 billion VND with a term of up to 25 years, preferential interest rate from 7.49%. Payment method, simple procedure, lightweight. Customers aged 18 to 65 are eligible for loans.
Vietnam Bank prospered VPBank
Vietnam Prosperous Bank is the second largest bank after Techcombank in the field of investment banking loans to buy low interest houses, accounting for about 12.3% with capital of more than 17 trillion in 2016, with procedures The administration is extremely simple with the loan support up to 100% of the real estate value and a maximum period of 20 years.
Low-interest rate home loans are a new direction for low-income people who want to settle down. With the increasingly modern development of the market economy and the preferential policies for home loans of many commercial banks today. Low-interest bank loans to buy a home – dream home to live will not be too far away with many Vietnamese.
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