Banks are competing to lower interest rates, with home loan rates hitting record lows.

Interest rates on home loans continue to fall.

According to the survey, interest rates on home loans from banks continue to trend downwards and are considered to be at their lowest levels ever.

Among the Big4 banks, Agribank applies a fixed interest rate of 6%/year for the first 6 months, 6.5%/year for the first 12 months (minimum loan term of 3 years), and 7%/year for the first 24 months (minimum loan term of 5 years) for medium and long-term loans serving purposes such as home purchase, living expenses, and real estate business.

In addition, this bank also offers preferential interest rates on short-term loans for individual customers for business purposes, with interest rates starting from only 4% per year for short-term loans (3 months or less).

Interest rates start from 4.5% per year for loans of 3-6 months; and from 5% per year for loans of 6-12 months.

Meanwhile, the interest rates for home loans at BIDV Bank are as follows: The minimum interest rate for home loans is 5% per year, fixed for the first 6 months (36-month term) or 5.5% per year for the first 12 months (60-month term), applicable to customers in Hanoi and Ho Chi Minh City.

For customers outside these two major cities, the minimum mortgage interest rate is 6% per annum fixed for the first 24 months or 7% per annum for the first 36 months.

VietinBank offers loans for purchasing, building, or renovating houses with the following interest rates: 6.2%/year fixed for the first 18 months; 6.7%/year fixed for 24 months; or 8.2% fixed for 36 months. Beyond the fixed interest rate period, an additional margin will be added to the interest rate depending on the prevailing market conditions.

At Vietcombank, interest rates start from 5.5%/year for the first 6 months for loans under 24 months, from 5.7%/year for the first 12 months for loans over 24 months, fixed at 6.5%/year for the first 2 years; and fixed at 8.5%/year for the first 3 years. After the preferential period, the interest rate will be equal to Vietcombank's 12-month deposit interest rate plus 3.5%, currently around 9%/year.

In non-state-owned banks, some banks also offer low interest rates for home loans, such as:

TPBank offers preferential interest rates for home purchase/renovation loans: 0% fixed for the first 3 months; 6.6% fixed for the first 12 months; 7.6% fixed for the first 24 months; and 8.6% fixed for the first 36 months. After the preferential period, the interest rate becomes "floating," currently around 11.4%.

VPBank offers several interest rate options as follows: 4.6% fixed for 3 months; 5.9% fixed for 6 months; 7.2% fixed for 12 months; 9.8% fixed for 18 months; or 10.3% fixed for 24 months. These apply to loans with a minimum term of 48 months. The interest rate margin after the promotional period is 3.5%. Currently, VPBank's floating interest rate is approximately 11% per year.

At Eximbank, the fixed interest rate is 3.5%/year for the first two months; 7.5%/year for the following 22 months. The interest rate after the preferential period is calculated as the base interest rate + a margin of 3%. The penalty fee for early repayment is 2% in years 1, 2, and 3, 1% in year 4, and waived from year 5 onwards. Currently, Eximbank's floating interest rate is around 10-11%/year.

Interest rates for real estate loans at PVComBank are fixed at 3.99% for the first 3 months, 5.99% for the first 6 months; 6.2% for the first 12 months, and 6.99% for the first 18 months; loan term is 20 years, loan limit up to 85%. After the preferential period, the interest rate will be calculated using the formula (base interest rate + 3.3% margin), approximately 10-11% per year.

Techcombank's fixed interest rates for home loans are 5% for 3 months, 6.3% for 6 months, 6.7% for 12 months, 7.0% for 18 months, and 7.5% for 24 months. Early repayment fees are: 2.5% in the first year; 2% in the second and third years; and 1% in the fourth and fifth years. After the preferential period, a floating interest rate with a margin of 3.5% will apply. Therefore, Techcombank's floating interest rate will be approximately 10-11% per year.

At some foreign banks like HSBC, interest rates for home loans range from 5.5% to 8.99% per year, applicable to loan terms of 6 to 60 months. Specifically, 5.5% applies to 6 months, 6.5% to 12 months, 6.99% to 24 months, 7.99% to 36 months, 8.49% to 48 months, and 8.99% to 60 months.

Woori Bank offers several interest rate options for home loans: fixed at 5.3% for 1 year; fixed at 6% for 2 years; and fixed at 6.4% for 3 years. After the promotional period, the interest rate will be floating, calculated as the average interest rate on 12-month term deposits (for individuals) of state-owned banks plus a margin of 4%. Early repayment fees are 3% in the first year, 2% in the second year, 1% in the third year, and are free from the fourth year onwards.

TH (according to VTC News)

Source: https://baohaiduong.vn/ngan-hang-dua-nhau-giam-lai-suat-cho-vay-mua-nha-thap-ky-luc-395597.html