What is the home loan interest rate at Big 4 and banks?

What is the home loan interest rate at Big 4 and banks?
At banks, home loan interest rates are popular from 7%/year to 10%/year during the preferential period, then add 3.5-4%. Standard Chartered Bank has the lowest interest rate at 6,79%/year for the first year. At Vietcombank, lending interest rates tend to decrease.

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Survey of Partner At branches of 16 banks in Hanoi, it shows that home loan interest rates in some parties are on a downward trend. The interest rate in the preferential period (6 months, 1 year) is currently 7-10%/year. At the end of the incentive, the lending interest rate is calculated based on a base interest rate plus a margin of 3.5-4% depending on each bank.

Vietcombank Thanh Cong branch applies 2 options for borrowers. Option 1 has a fixed interest rate of 7.8%/year in the first year – down from 8.1%/year 2 months ago. Option 2 is a fixed interest rate of 8.7% for the first 2 years. With both of these options, after the preferential period, the loan interest is calculated on the 24-month interest rate plus a margin of 3.5%. The credit officer at this branch also said that the bank is associated with many investment projects to lend to buy project houses. In addition to the above 2 incentive packages, customers paying salary via Vietcombank account will receive a discount of 0.2%/year for the first 12 months and a grace period for the first 24 months.

What is the home loan interest rate at Big 4 and banks? - Photo 1.

Foreign banks are offering lower interest rates on loans to buy and build houses than domestic banks.

VietinBank and BIDV still keep their home loan interest rates unchanged. BIDV transaction office Tran Thai Tong applies 8%/year in the first year and VietinBank Nam Thang Long branch applies a home loan with interest rate of 8.11T1T/year in the first year. In the following years, both banks applied an interest rate of about 11%/year.

Regarding early repayment penalty, BIDV has a penalty fee lower than other banks by about 0.5 percentage points. Specifically, the fee for 1 year early payment here is 1%, 2-3 years before maturity is 0.5%. At other banks, the penalty fee for 2 years early repayment is usually 1.5-2%, 3 years is 1% and 4-5 years is 0.5%. 

At joint stock banks, home loan interest rates are higher. Techcombank Cau Giay branch applies incentives of 7,99%/year for 6 months, 8,29%/year for 12 months with project house purchase. Interest rates on home improvement loans are higher, 6-month term is 8,29%/year and 12-month term is 9,49%/year. The plus margin after the incentive period will range from 4.19 to 5,69%/year, depending on the credit rating of the customer.

MB Ha Dong is applying a preferential interest rate for the first 3 months of 10.5%/year when borrowing for more than 7 years and 10.3%/year when borrowing from 1 to 5 years. As for the credit officer of MB Hoan Kiem, the preferential interest rate is currently 7,99% for the first year, down from the previous month, however, the offer is only valid until the end of February. With associated projects, this bank there are 2 incentive options: preferential interest rate of 8.3%/year for 18 months and investor discount 4% apartment value; The investor supports the interest rate of 0% in the first 18 months but can only borrow up to 65% of the apartment value.

At ACB Huynh Thuc Khang, the interest rate for home loan purchase and repair is currently 9.5%/year in the first 3 months or 10.5%/year applied in the first year. VPBank Lieu Giai applies interest rates of about 8.5-9.5% in the first year, HDBank Dong Do offers preferential rates of 10-10.5% in the first 6 months from the beginning of the year, down nearly 2%. Sacombank Thuong Dinh anchors the loan interest rate for the first year at 13-14%/year with the loan balance gradually decreasing and 8.5%/year in the first year if calculated according to the principal balance.

Some smaller joint stock banks offer package and term offers. MSB offers 3 different real estate loan packages with interest rates of 6,99%/year, 8,99%/year and 9,99%/year applied for 6 months, 12 months, and 18 months, respectively. After the preferential period, the interest rate will be calculated on the 12-month mobilizing interest plus a margin of 3.5%.

Credit staff at Bac A Bank transaction office Ba Trieu, Nam A Bank Thanh Xuan and LienVietPostBank Hoang Mai said that the applicable home loan interest rate is about 9%/year in the first year, after the preferential period, lending interest rate is about 12-13%/year.

What is the home loan interest rate at Big 4 and banks? - Photo 2.

Interest rates on home loans at banks are listed. Source: Synthetic.

Foreign banks are offering lower interest rates on loans to buy and build houses than domestic banks.

Standard Chartered Bank has 3 options with terms of 1 year, 2 years and 3 years respectively 6,79%/year, 7,79%/year and 8,39%/year, respectively. According to the credit officer, the 3-year term interest rate has decreased compared to 8,79%/year previously. After the preferential period, the interest rate is about 10-10.5%/year.

Shinhan Bank has 3 home loan packages. Customers receiving salary transfer over 40 million VND/month will receive incentives of 7.2%/year for the first year, 8%/year for 2 years, 9.5%/year for the first 3 years. If the customer receives salary by transfer, the interest rate is the same as the package above but plus 0.4%. At Standard Chartered Bank

Vu Quoc Hung, Director of Credit Department, State Bank, recently said that by the end of 2019, the growth of credit outstanding for real estate in 2019 was 8.8%. The State Bank is implementing policies to tighten real estate credit to control risks in lending to this sector. Specifically, this agency will continue to issue regulations and implement supervision to ensure real estate loans are implemented for the right purposes.

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