Besides ACB lending at 5.5%/year, which banks have the lowest home loan interest rates?

(NLĐO) – According to experts, low interest rates are only one of the factors determining whether customers borrow to buy a house for living or investment purposes at present.

Immediately afterACB announced it was offering first-time home loans with interest rates starting from 5.5% per year, many people said they contacted the bank to inquire about loan information.

Mr. Ngoc Duong (residing in District 7, Ho Chi Minh City) said he needs to borrow money to buy an apartment in Ho Chi Minh City, so he contacted ACB Bank to inquire about the procedures for a first home loan. The loan officer explained that the "First Home" loan program provides funding for purchasing houses/land or for building/renovating houses.

Maximum loan term is 30 years. Preferential interest rate from 5.5%/year, calculated on the actual outstanding balance (decreasing balance). Conditions: Vietnamese citizens aged 18 to 35; minimum loan amount of 200 million VND. Must have a stable income and guaranteed repayment ability (minimum 15 million VND/month). Must have collateral in the form of the house/land to be purchased or other real estate.

"I met all the conditions, but the credit officer said they needed to review my file to determine the specific interest rate and the grace period for principal repayment," Mr. Duong recounted.

To date, ACB is the first commercial bank to announce a credit package for young customers immediately following the Prime Minister 's request.

According to a reporter from Nguoi Lao Dong newspaper, not only ACB, but many other commercial banks are also implementing a series of preferential credit packages for customers borrowing to buy real estate, with low interest rates.

PVcomBank is offering a real estate loan package with interest rates starting from 3.99% per year (preferential rate for the first 3 months). The loan term is up to 35 years, with flexible repayment plans to suit individual needs. The bank also applies a grace period of up to 36 months for principal repayment; the maximum loan limit is 50 billion VND and the maximum loan-to-value ratio is 85% of the collateral value.

If the borrower chooses a fixed interest rate for 12 months, the interest rate is 6.2%, and if fixed for 18 months, the interest rate will be 6.99% per year.

Some banks offer real estate loans with interest rates starting from 3.99% per year.

Another bank that has just launched a home loan promotion program, with interest rates starting from 3.99% per year, isSHB . Accordingly, customers can borrow to buy real estate with interest rates starting from 3.99% per year; borrowing up to 90% of the value of the house purchased.

Notably, banks offer loans with terms of up to 35 years, with a maximum of 5 years of principal repayment exemption. Borrowers can schedule flexible repayments (equal principal payments, progressively increasing principal payments, principal payments based on cash flow on a monthly/quarterly or semi-annual basis)...

At ABBANK, the bank offers home loans with terms up to 35 years. In its latest preferential credit program called "Preferential Loan Interest Rates – Solutions in Hand," customers can borrow to buy a house with interest rates starting from 7.3% per year.

Long loan terms help customers reduce monthly financial pressure, while also providing young families with modest savings with the opportunity to easily balance their budgets and other financial goals in life.

"With simple loan procedures, super-fast approval in just 5 hours, and up to 100% loan capital needs met, customers can complete the purchase of their dream home without worrying about finances," said an ABBANK representative.

According to experts, low interest rates are one of the advantages that encourage customers, especially young people, to borrow to buy a house. However, interest rates are only one of the conditions for customers to borrow credit to buy real estate. Economist Dr. Dinh The Hien analyzes that, along with interest rates, the supply in the real estate market, with apartments and houses in segments suitable for the income of the majority of the population, is crucial.

"Furthermore, if interest rates are low but the market is mainly for high-end apartments, it will be difficult to find borrowers. Therefore, along with preferential interest rate policies, the authorities need to continue removing legal obstacles for real estate projects, creating confidence in the market," said Dr. Dinh The Hien.

Source: https://nld.com.vn/ngoai-acb-cho-vay-55-nam-nhung-ngan-hang-nao-dang-co-lai-suat-vay-mua-nha-thap-nhat-196250218143240871.htm