To stimulate real estate demand in the context of prolonged COVID-19, many banks offer attractive interest rates with many incentives.

VPBank has just announced the implementation of a preferential program with an interest rate of only 5.9% and many other privileges for customers who borrow to buy real estate with title deeds.

Accordingly, from October 15 to December 31, 2021, VPBank's customers wishing to borrow to buy real estate with title certificates will be able to choose one of the interest rate packages: 5.9%/year, fixed for 3 months, 7 months. .9%/year for 6 months, 8.3%/year for 12 months, 8.6%/year for 18 months or 8.9%/year for 24 months.

From October 15 to December 31, 2021, VPBank's customers who need to borrow to buy real estate with title certificates will be able to choose one of the interest rate packages such as 5.9%/year fixed for 3 months.

In addition, according to VPBank's policy, customers will be able to borrow up to 80% of the value of collateral assets, with a disbursement limit of up to VND 20 billion and a loan term of up to 25 years. Customers also enjoy a 12-month grace period, meaning that in the first year, customers will not have to pay the principal to the bank, but only need to pay the interest.

Recently, Shinhan Bank Vietnam Limited (Shinhan Bank Vietnam) also announced the latest preferential interest rate packages for individual customers, in order to accompany customers to overcome difficulties after the Covid-19 wave. 19 for the 4th time and enter the “new normal”

Specifically, Shinhan Bank offers the interest rate for individual customers to buy a house at 5.49%/year for the first year and a fixed rate of 7.8%/year from the second to the fifth year. up to 25 years.

Interest rate surveys at banks show that home loan interest rates range from 5%/year to 8.99%/year.

In which, the lowest home loan interest rate at the time of the survey was recorded at PVcomBank at 5%/year.

Currently, PVcomBank is still implementing a home loan package with the lowest preferential interest rate of 5%/year and applied for the first 6 months. At the end of the preferential interest rate period, the bank will set a loan interest rate of 12%/year for the loan. The maximum loan term is up to 20 years with a loan limit of not more than 85% of the value of the collateral.

Besides, a number of home loan programs from other banks with competitive interest rates such as Woori Bank (6.1%/year - 70% of property value), Hong Leong Bank (6.1%/year - 70% of property value) ,19%/year – 80% of property value)...

At big banks like Vietcombank, loan service buy house with installment is offered with low interest rate from only 7%/year, long loan period of 15 years and high loan limit up to 70% of house value. .

Experts say that keeping the  home loan interest rate  low will help stimulate the demand to buy a house. According to the forecast of Viet Capital Securities Company, although it is not expected that the State Bank will further cut the operating interest rate, the State Bank will not raise interest rates in 2021 in order to continue supporting the economy by maintaining maintain easing monetary policy. "Accordingly, we believe mortgage interest rates will remain low in 2021, thereby supporting real estate demand," analysts at Viet Capital Securities said. .

Source: Cafeland