Interest rates continue to "cool down".

Interest rates start from just 4.9% per year.

Since the beginning of the year, the State Bank of Vietnam has made four adjustments to reduce the policy interest rate, with reductions ranging from 0.5% to 2% per year. Accordingly, commercial banks have also adjusted and implemented preferential credit programs and packages, reducing lending interest rates by approximately 0.5% to 3% per year, depending on the customer, for new loans.

In addition, following the directives of the State Bank of Vietnam, credit institutions have been implementing measures to reduce lending interest rates to support businesses, individuals, and the economy in recovering production and business activities. With these policies, the current interest rates offered by banks are considered quite attractive to borrowers.

Interest rates are continuously "cooling down" - a "golden" opportunity for borrowers to buy houses or start businesses.

For individual customers, the demand for consumer loans is quite high, so banks are gradually providing support and stimulating capital demand. Many banks are implementing credit packages for individual customers borrowing to buy houses, for consumption, etc., with preferential interest rates.

For example, at SeABank , the interest rate for home loans applied by the bank from now until the end of 2023 is only 4.9%/year with a loan term of up to 35 years and no limit on the loan amount. After the preferential period ends, the interest rate applied by SeABank to customers will only be around 11-12%/year.

In addition to personal consumer loans, SeABank also offers many preferential packages to support business activities, create conditions for growth, and provide equal competitive opportunities for businesses. Currently, SeABank is implementing a very attractive loan policy for business households with interest rates starting from 7% per year, especially financing 100% of capital needs and making it easy to prove repayment ability, without requiring customers to have a business registration or tax payment documents.

SeABank always understands the needs of its customers and strives to research and develop the best products, helping customers easily and quickly access and achieve their dreams and plans.

Includes multiple power assist features.

Some experts view the reduction in interest rates as a positive signal that positively impacts the sentiment of both individuals and businesses. Lower interest rates ease financial pressure on individuals and make it easier to access loans at more reasonable prices. For developers, reduced capital costs allow them to offer more incentives to buyers, such as discounts and gifts, while also providing them with additional resources to complete unfinished projects and launch new ones to increase supply.

For businesses, this is currently the time to focus on boosting production and business to meet market demand and prepare for the year-end peak season. Lower interest rates not only help reduce business costs and operations but also help maintain product prices and stabilize market prices, thereby creating momentum for overall economic growth.

The policy on lending to repay debts to other banks, as stipulated in Circular 06/2023/TT-NHNN of the State Bank of Vietnam and effective from September 1, 2023, is considered "beneficial" for borrowers.

Market surveys show that SeABank's preferential loan packages offer competitive interest rates compared to some other banks. Many people looking to buy a house say that at this time, an interest rate below 10% per year is already an attractive offer, let alone below 5% per year, coupled with simple procedures and quick disbursement... making it an ideal opportunity for homebuyers. Furthermore, the current real estate market maintains a favorable entry point for families wanting to own their dream home.

Besides interest rates, financial and banking experts also advise homebuyers to pay attention to other issues such as repayment terms, principal and interest payments that suit their financial capacity, and the flexibility of the loan package.

Currently, banks are offering loans with large limits, ranging from 70-80% of the house value. However, home loans are typically long-term. Therefore, people should consider their overall family financial situation in relation to the loan to ensure they can repay the debt over a long period. Accordingly, homebuyers can choose banks that offer long loan terms. For example, SeABank applies a policy of lending for 35 years, allowing users to extend the repayment period, thereby reducing the pressure of monthly principal and interest payments.

As can be seen, the extremely attractive interest rates, long terms, and simple, flexible procedures of loan packages being implemented by banks not only help alleviate financial pressure for customers but also provide effective solutions to support opportunities for home ownership or capital support for current production and business activities.

Furthermore, the policy on lending to repay other banks, as stipulated in Circular 06/2023/TT-NHNN of the State Bank of Vietnam, effective from September 1, 2023, is considered "beneficial" for borrowers, increasing interest rate competition among banks. Understanding the difficulties and the desire to repay loans early and reduce financial pressure, several banks, including SeABank, have launched loan packages to help customers repay personal loans at other banks early with interest rates starting from only 4.9% per year. This applies to loans for real estate purchases, secured consumer loans, and business loans. Accordingly, customers will benefit from a principal grace period and, importantly, receive support in early disbursement to repay loans at other banks, while income verification is extremely simple and flexible.

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