Which bank has the most preferential home loan interest rate in July 2023?

Banks with the best preferential home loan rates currently include: Woori Bank (7.8%/year); Shinhan Bank applies an interest rate of 7.99%/year for the first 6 months and 10.5%/year for the remaining 54 months.

TPBank applies 8% interest rate for home loan customers in the first 6 months, in the next 6 months it will apply 12%/year, from the 13th month it will also calculate floating interest rate according to the market, about 13.5%/year.

In addition, some other banks also have preferential loan rates such as: HDBank (8.2%/year), VIB (8.5%/year), Eximbank (8.5%/year), SeABank (9.29%/year), UOB (9.49%/year), Sacombank (9.5%/year).

Home loan interest rates continued to fall in early July.

Besides, the Big 4 group including Vietcombank, BIDV, Vietinbank, Agribank also has very preferential loan rates.

Specifically, BIDV bank's home loan interest rate is 7.8%/year; Agribank's is 8%/year; Vietinbank's is 8.2%/year; Vietcombank's is 9.5%/year.

However, the interest rate below 10% is only applicable for 3-6 months, the highest is 1 year. After the preferential period, most banks charge floating interest rates, commonly at 12-13.5%.

Although some banks have reduced home loan interest rates, they still maintain them at over 10% per year, such as Viet Capital Bank, Hong Leong Bank, SHB, ACB Bank, ABBank, GPBank, HSBC, VPBank, with interest rates ranging from 10.5-11.8% per year.

In which, OCB bank calculates interest at 10.5%/year in the first year, and at 14.2%/year after the preferential period. VPBank calculates interest at 11.8%/year in the first year, and 14%/year after the preferential period.

Thus, after the State Bank's drastic move to reduce lending interest rates for old customers, individuals and businesses, many banks have continued to adjust interest rates down with a common reduction of 0.5%.

However, for old loans, the decrease is not significant, private commercial banks still maintain at 12-14% because the capital cost that banks mobilized at the beginning of this year is still in stock. Meanwhile, the Big 4 group has brought the lending interest rate to old customers to below 11%/year.

Ngoc Vy

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