According to a survey, bank interest rates for existing loans have decreased by 1-2% compared to the beginning of the year.
From the beginning of October 2023, commercial housing interest rates of banks range from 7.2-11.8%/year, after the preferential period ends, interest rates fall to around 10.5-15.5%/year.
Specifically, compared to September, the home loan interest rate in October 2023 at the Big4 group has not changed. Vietcombank has a loan interest rate of 8%; Agribank 8%; BIDV 7.8% and Vietinbank 8.2%.
This is the interest rate during the preferential period. After the preferential period, the interest rate at banks will float according to the market.
At Vietcombank , the current interest rate the bank is applying for the first 2 years is 8%, the following years the loan interest rate will be floating equal to the 12-month savings interest rate plus a margin of 3.5%, but will not be lower than the floor interest rate of 10%. Customers will be able to borrow up to 70% of the asset value, within 20 years.
Entering October 2023, banks with the lowest home loan interest rates include WooriBank (7.2%/year); MB, SHB , Hong Leong Bank (7.5%/year).
The group of banks with home purchase interest rates above 9%/year includes: PVcomBank (9%/year); SeABank (9.29%/year) VIB, Sacombank (9.5%/year); UOB (9.49%/year); HSBC (9.75%/year).
The group of banks with home loan interest rates above 10%/year includes: Techcombank (10.5%/year); ABBank (11.2%/year); GPBank (11.3%/year); VPBank (11.8%/year).
Notably, compared to the statistics of home loan interest rates at the end of September 2023, the lending interest rate at Techcombank increased by 2%. This bank is lending at a maximum rate of 70% of the property value. Term is 35 years. After the preferential period, the floating loan interest rate is equal to the 12-month savings deposit interest rate plus a margin of 3%.
As of September 29, 2023, credit for the whole economy reached about 12,749 trillion VND, an increase of 6.92%.
For the real estate sector, the State Bank has directed and requested credit institutions to create favorable conditions for real estate project investors and home buyers to access credit when fully meeting the credit granting conditions as prescribed;
In addition, consider providing credit to investors, construction contractors, home buyers and manufacturing units providing construction materials to increase capital circulation and liquidity for the real estate market.
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