After the State Bank adjusted interest rates, many commercial banks have begun to reduce lending rates.
The most preferential lending interest rate currently belongs to Vietnam Maritime Commercial Joint Stock Bank (MSB) at 4.99%/year. However, MSB only fixes this interest rate for the first 3 months for loans with a term of over 24 months. From the fourth month onwards, the bank will apply a floating interest rate according to the market interest rate, falling to about 13.75%/year.
At Hong Leong Bank, compared to the previous month, the bank's lending interest rate has decreased by 1%, from 11.7%/year to 10.7%/year and is fixed for the first year.
At Shinhan Bank, the interest rate also decreased by 2.81%, from 10.8%/year to 7.99%/year. However, this preferential interest rate is only applied for the first 6 months, the following months the interest rate will be at 10.5%/year. Also in this mid-range interest rate segment is Orient Commercial Bank with an interest rate of 8.49%/year in the short term.
At ABBank, the interest rate for loans to support production and business has also decreased to about 8.3%/year, and for loans to buy houses is 9.9%/year, but in the medium and long term it will be 11.9%/year.
Many positive factors create opportunities for people who have a real need to buy housing.
The reduction in lending interest rates by some banks is a positive signal to open up capital sources for home buyers. Especially in the current context, the real estate market is still sluggish because many people want to buy a house but are not ready to spend money because they are waiting for the market to hit bottom or are afraid of high interest rates from banks.
Faced with market difficulties, some businesses have also sought to save themselves by launching many attractive sales policies with high discounts.
Specifically, the investor of the Hanoi Melody Residences apartment project in the Tay Nam Linh Dam urban area (Hoang Mai district, Hanoi ) is offering a high discount of up to 38%. To enjoy this discount, customers must pay 95% of the apartment value in advance.
Similarly, at Masteri West Heights Tay Mo apartment building (Nam Tu Liem district, Hanoi), a discount of up to 13.5% is also being applied for customers who pay 95% of the apartment value early with available cash.
Or at the Binh Minh Garden project (Long Bien, Hanoi), buyers will receive a discount of up to 22.5% of the apartment value when all incentives are combined. This discount is only applied when customers pay 95% in full. In case the home buyer chooses to take out a bank loan to pay, the discount will be 11.5% and the loan interest will be waived for 18 months.
Many opinions say that this is the right time for those with real needs to look into housing projects, especially projects with clear legal status, convenient locations and prices close to real value.
With the reduction of bank interest rates, home buyers can easily accept loans without the pressure of previous high interest rates. Home buyers can learn about combining loans and applying attractive discounts from investors to access real estate projects with reasonable prices.
Many experts also believe that apartment prices will remain stable without falling sharply due to the decline in supply and the current high input costs. In the coming time, the demand for buying houses is forecast to increase when the market shows signs of recovery due to policies and credit sources starting to "penetrate", which will cause house prices to increase slightly.
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