At the conference with commercial banks, Prime Minister Pham Minh Chinh requested the State Bank of Vietnam (SBV) and commercial banks to study and continue to have preferential credit packages for both supply and demand to develop social housing and housing for young people under 35 years old. Thereby, contributing to promoting the real estate market and creating more favorable conditions for people to access loans.

In addition, the Prime Minister also directed the State Bank to thoroughly implement solutions to stabilize deposit interest rates and reduce lending interest rates throughout the entire credit institution system.

Up to now, credit institutions have simultaneously adjusted to reduce deposit interest rates, and at the same time launched many preferential credit programs with reasonable interest rates.

Since the meeting between the State Bank of Vietnam and commercial banks on interest rates on February 25, by March 7, 16 domestic commercial banks have reduced deposit interest rates by 0.1-0.8% per year, for most terms.

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Young people have the opportunity to buy houses with preferential interest rates. Photo: Nam Khanh.

Along with that, commercial banks are competing to offer many product packages with preferential interest rates such as:

Asia Commercial Joint Stock Bank (ACB) has launched a preferential loan interest rate package “First Home” for customers aged 18-35 with preferential interest rates from only 5.5%/year, loan term up to 30 years.

Loc Phat Vietnam Commercial Joint Stock Bank (LPBank) has launched the package "Easy settlement - stable future" for young customers to borrow to buy or repair houses with interest rates from only 3.88%/year, loan term up to 35 years.

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) announced a preferential credit package worth VND30,000 billion, applicable to individuals and households wishing to buy houses in 24 major cities, especially young people with interest rates from only 4.5%/year, loan terms up to 50 years, principal grace period up to 5 years to help customers easily balance their finances.

Saigon - Hanoi Commercial Joint Stock Bank (SHB) has launched a preferential credit package of VND16,000 billion to serve the home buying needs of customers, especially young people, with interest rates starting from only 3.99%/year, with no principal repayment for up to the first 60 months.

The program is implemented from now until December 31, 2025. Customers can borrow up to 90% of the value of the property they intend to buy, with no limit on the loan amount.

Eximbank has also just launched the home loan package "Stable home - Secure future" Y-Rise Eximbank with preferential interest rates from only 3.68%/year in the first 36 months for customers aged 22-35.

One of the highlights of this loan package is the free early repayment from the 5th year, helping customers be more proactive in balancing financial resources and reducing long-term financial pressure.

In addition, Eximbank also finances 100% of capital needs; maximum loan term up to 40 years, principal grace period up to 7 years.

Mr. Luong Nguyen Minh Dang, Director of Eximbank Retail Banking, shared: “With a loan of 1 billion VND, customers only need to pay from 6-7.5 million VND/month. With a house worth 3 billion VND, the monthly installment is only from 20-22 million VND. In particular, for customers buying a house worth 5 billion VND, Eximbank supports a loan option without self-capital, with a monthly payment of 30-35 million VND”.

Most recently, on March 5, TPBank announced a home loan package with preferential interest rates starting at only 3.6%/year and a maximum loan amount of up to 100% of the customer's loan demand. The loan package has a term of up to 35 years and does not have to repay the principal within 5 years, or only has to pay 5% of the principal within the first 5 years. The loan conditions are extremely simple, the customer only needs to be under 35 years old at the time of borrowing.

This shows that credit institutions have been actively implementing interest rate reductions under the direction of the Government, the Prime Minister and the State Bank, contributing to supporting businesses and people in borrowing capital for production, business and consumption.

Preferential loan packages for young home buyers not only provide flexible financial solutions and attractive interest rates, but also provide long-term loan policies, opening up opportunities for young people to initially own a home without worrying about financial pressure.