Vinhomes' installment home purchase policy attracts customers thanks to a fixed interest rate ceiling of up to 15 years.

The real estate market will soon enter a period of growth thanks to many positive sales policies from investors to increase product absorption capacity in addition to monetary policy management from the State Bank.

Interest rate is decreasing

Monetary policy is having many positive impacts on the recovery of the Vietnamese economy, especially in the interest rate management of the State Bank.

Interest rates are gradually decreasing at commercial banks, down to just under 4% per year for terms under 6 months.

According to the survey, the mobilization interest rates of banks are still on a sharp downward trend, the highest mobilization interest rates are mostly below 6%/year, such as the interest rate of 5% to 5.6%/year applied for terms of 6 months to 24 months, and for terms of less than 6 months, they all fell below 4%/year. In the group of private joint stock commercial banks, the mobilization interest rates are no longer significantly different, even approximately or equal to the group of state-owned banks in the context of abundant liquidity in the banking system with a sharp increase in deposits in the last months of the year.

In 2023, implementing the policy of the Government and the State Bank, the commercial banking system has reduced costs to reduce lending interest rates to support businesses and people. Statistics show that the lending interest rate has decreased by about 2.5% compared to the end of 2022. From the beginning of 2024, many banks have lowered home loan interest rates by 1% - 2% compared to the end of 2023. Along with that, banks have also proactively waived and reduced service fees for customers.

Meanwhile, at the private joint stock commercial bank group, the interest rate for home loans fluctuates between 5.9% - 10.5%/year. When the preferential interest rate period ends, the loan will be subject to a floating interest rate, falling between 11% - 13%/year, 2% - 4%/year lower than the same period last year. This figure at the group of banks with 100% foreign capital is 6% - 9.75%/year. When the preferential loan period ends, the floating interest rate falls between 9% - 11.75%/year. This is the lowest interest rate in the past 20 years.

Fixed interest rate ceiling up to 15 years attracts customers

However, the general market sentiment is still worried that floating interest rates will increase sharply after the preferential period, usually calculated by the base interest rate plus a margin of 2% - 4%/year. This picture has been verified in the period of 2022 when banks adjusted interest rates to increase to 13%, even nearly 15%.

The fixed interest rate ceiling program that Vinhomes has just launched for 3 projects is attracting much attention in the market .

In that context, the program "Buy a luxury home - Financial peace of mind" that Vinhomes has just announced will solve the problem of floating interest rates to support investors and home buyers. The program is applied to Vinhomes Ocean Park 2 townhouses, The Zenpark apartments - Vinhomes Ocean Park 1 (Hanoi), or The Beverly apartments - Vinhomes Grand Park (HCMC). Specifically, this attractive policy ensures the interest rate ceiling is only 8% or 9.5% throughout the loan period of up to 15 years.

Accordingly, customers only need to prepare 30% of the product value before signing the purchase contract and receiving the house. The bank through the investor will support the loan of the remaining 70%, the loan term is varied from 5 or 10 or 15 years depending on each case and specific needs, each month the installment payment of both principal and interest is only from 15 million VND.

Notably, in the first two years since the bank disburses the loan, the interest rate that customers pay is only a maximum of 6%/year for low-rise areas and 7%/year for high-rise areas. From the third year onwards until the end of the installment period, Vinhomes ensures that customers and investors only have to pay a maximum of 8%/year or 9.5%/year for low-rise and high-rise areas, respectively.

The unique point of this policy is that, in case the bank's lending interest rate is lower than or equal to the guaranteed interest rate, the customer only has to pay the actual interest rate. In the remaining case, if the bank's interest rate is higher than the guaranteed interest rate, the customer only has to pay according to the committed interest rate ceiling, the remaining difference will be paid by the investor Vinhomes to the bank.

This breakthrough sales policy of Vinhomes along with many other attractive incentive programs helps many customers realize the opportunity to own a luxury home at the most attractive cost without having to worry about fluctuations in floating interest rates when the interest rate ceiling is applied. From there, buyers can easily plan their personal financial plans with a vision of up to 15 years, reducing economic pressure on themselves and their families. Along with the quality and class that have been affirmed after many years, this policy of Vinhomes promises to create a breakthrough force, promoting the real estate market to flourish in the coming time.

Source