Home buying opportunities for young people

Responding to the Government's policy of supporting young people to have housing, and with the desire to reduce financial pressure so that young people can easily access capital to buy houses, many banks are implementing preferential loan packages with competitive interest rates and flexible policies for young customers.

Many commercial banks are launching preferential interest rate packages to support young people to borrow money to buy houses. In the photo: Consulting customers using financial loan packages at Vietcombank Binh Duong

Many preferential loan packages

Instead of delaying owning a dream home due to financial pressure, young customers can now easily and flexibly access home purchase capital. Understanding the psychology of many young people today who need a solid financial leverage to invest in real estate, recently, Vietnam International Commercial Joint Stock Bank ( VIB ) has launched a breakthrough financial solution package with a scale of up to 45,000 billion VND, to help young people's dream of settling down. VIB's apartment and townhouse loan package has impressed the market since its launch with its flexible principal repayment policy. In particular, for first-time home buyers, VIB applies a breakthrough policy such as borrowing 1 billion VND, only paying 1 million VND/month (equivalent to 0.1% of outstanding debt) during the first 5 years, 0.2% - 0.3% of outstanding debt in the next 10 years or choosing to waive principal repayment completely for 5 years.

The above loan package also offers many other incentives with competitive interest rates of only 5.9%/year (fixed for 6 months), 6.9%/year (fixed for 12 months), 7.9%/year (fixed for 24 months), transparently applied, without cross-selling conditions. The maximum loan rate is up to 85% of the apartment value for up to 30 years. In particular, customers can repay the principal in advance up to 25 million VND/month (equivalent to 300 million VND/year) without penalty, free of charge for early repayment from the 5th year.

Ms. Than Thi Ngoc Thuy, Dong Tu quarter, Lai Thieu ward, Thuan An city, shared: “Initially, I planned to save for a few more years to buy a house. But when calculating, VIB's flexible loan package allowed me to own an apartment immediately. The monthly installment is only slightly higher than the old rent, but in return, I have my own property and the potential for price increase in the future. This decision really helped me optimize cash flow and save a lot of opportunity costs."

At Ban Viet Commercial Joint Stock Bank (BVbank), the preferential loan interest rate is only from 5.49%/year, the loan term is up to 25 years and customers can borrow up to 85% of the collateral. In addition, customers can choose flexible repayment options that suit their financial conditions such as choosing a principal grace period of up to 24 months or repaying the principal in steps from only 0.25%/month. In addition, BVbank's lending conditions are also simple for all customers from 18 to 35 years old at the time of borrowing.

Not stopping at preferential interest rate loan packages, BVbank also helps young customers buy furniture, electronic equipment and other expenses incurred during the process of moving to a new home. Customers can completely borrow installments from credit cards right on the Digimi digital banking application with flexible terms and preferential interest rates...

Relieve financial stress

Sharing the practicality of preferential loan packages, a representative of VIB Commercial Joint Stock Bank made a simple calculation: Suppose, if you are renting an apartment for 10 million VND/month, after 5 years, you have paid 600 million VND without owning anything. With VIB's loan package, with the same amount or just a little more each month, you can pay installments for your own house. That amount of money is not lost but is gradually transformed into tangible assets, capable of increasing in value over time...

Mr. Tran Ngoc Dung, Tan Uyen City, said that instead of paying VND8 million in rent each month, now with support from VIB, I only need to pay VND1 million in initial principal plus interest to be able to have my own apartment. "The peace of mind and the feeling of owning my own home is really fun," Mr. Tran Ngoc Dung shared.

According to VIB, in the context of a market that is always full of potential fluctuations, owning real estate with the right financial strategy at the right time will help young people not only settle down but also proactively seize opportunities to accumulate long-term assets. VIB's loan package to buy townhouses and apartments is not simply a loan, but a commitment to accompany customers on the journey to stabilize their lives, invest for the future and improve the value of life.

Mr. Ngo Minh Sang, Director of BVbank's personal customer segment, said that BVbank's home loan package to reduce financial pressure for young people was launched in the context of the Government and the State Bank paying special attention to supporting people, especially young people, to access affordable housing. Therefore, as a bank, the first thing we think of and do is to help young people solve two problems: reducing financial pressure with flexible policies and competitive interest rates, and then accessing capital easily through flexible loan conditions and simple procedures. This is not only a preferential program, but also BVbank's business goal in promoting the desire to settle down for the target customer group without having to wait or be hesitant because at this time BVbank will always support customers to the maximum.

Many customers believe that in the near future, if there are truly effective support policies from the Government and businesses, the dream of settling down for young people will truly become a reality.

The total value of loan packages launched by banks is up to tens of thousands of billions of VND. These loan packages have many incentives such as being able to borrow up to 100% of capital needs, being able to choose diverse collateral assets, and having long-term principal grace periods. Specifically, HDbank offers interest rates from only 4.5%/year, loan terms up to 50 years; ACB announces an interest rate of 5.5%/year for customers with an income of 15 million VND/month, who want to buy a house and are of low age, LPbank offers incentives from only 3.88%/year, SHB's interest rate is from 3.99%, loan terms up to 35 years.

THANH HONG

Source: https://baobinhduong.vn/co-hoi-mua-nha-cho-nguoi-tre-a348133.html