Banks simultaneously launch support packages for young people to borrow to buy houses

Transaction activities at BIDV Bank Bien Hoa branch. Photo: H.Quan

This preferential loan package is implemented by banks with many incentives to reduce the initial financial burden for young borrowers. This is an opportunity for young people to access home loan packages with reasonable interest rates.

Many offers

Recently, banks have simultaneously launched credit packages with many incentives in terms of interest rates, terms, and loan conditions to support young people under 35 years old to buy houses. These include the First Home Loan Program for young people aged 18-35 (recently expanded to 40 years old) of Asia Commercial Joint Stock Bank (ACB), the HomeJoy preferential loan package for young customers aged 20-35 of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)...

Most recently, from the beginning of April 2025, the Vietnam Bank for Agriculture and Rural Development (Agribank) officially launched the Home Loan Program for young people, lasting until the end of 2025.

According to Tran Thi Hai Ha, Deputy Director of Agribank Dong Nai branch, this credit program has many incentives for young people to borrow to buy houses. The first highlight is that individual customers who are civil servants, public employees, and workers up to 35 years old can use the house they intend to buy as collateral for the loan. This helps solve the initial mortgage difficulty that many young people are facing.

According to many bank branches in Dong Nai, for preferential loan packages for young people to buy houses, after the initial period of applying preferential interest rates of about 5.5%/year, the loan interest rate will then be adjusted according to the floating interest rate, calculated based on the reference interest rate plus the margin. Many banks are committed to publicly and transparently announcing the interest rate adjustment mechanism so that customers can clearly understand and have appropriate financial plans...

In particular, Agribank applies a flexible principal repayment mechanism, allowing customers to pay small amounts in the first years, then gradually increase according to actual income. This is a practical solution to help borrowers balance their finances in the early stages of the loan.

Currently, the loan packages for young people buying houses that banks are implementing often apply preferential interest rates of 5.5-5.6%/year in the initial loan period, depending on the bank. In addition, many banks also have additional incentives on principal extension time, incentives such as free account management fee for the first year, free card issuance and annual fee for the first year (including debit cards and credit cards), free or reduced collection fees, bill payment on each bank's online banking application, etc.

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has just launched the Loan Program With BIDV, Young People Have a House. Head of Personal Customer Department of BIDV Bank, Bien Hoa Branch, Nguyen Phan Duc Huy, said that the highlight of this loan package is the preferential interest rate of only 5.5%/year, fixed for the first 3 years of the loan. This is very suitable for young people with real housing needs, because they need a longer-term preferential policy rather than a fixed 3-6 months or a year. The loan term can be up to 40 years. In addition, the loan package allows borrowers, depending on each case, to extend the principal payment for up to the first 5 years of the loan. This helps reduce financial pressure for young people...

Ms. Tran Thi Hai Ha added that, regarding interest rates, Agribank applies a preferential fixed interest rate of 5.5%/year for the first 3 years. Young customers can borrow up to 75% of their capital needs when mortgaging the house they buy. Even if customers have other collateral, the loan limit can be up to 100% of their capital needs. The maximum loan term is up to 40 years, thereby helping young people reduce the pressure of monthly debt repayment and is suitable for the long-term financial plans of many young people. The principal debt extension period is up to the first 60 months.

Young people hope to soon access loan packages

Regarding the loan conditions for this preferential credit package, young people need to fully meet the loan conditions according to the current regulations of each bank. In particular, customers basically need to meet the criteria of age, have a stable source of income, ensure the ability to repay the debt as committed, have no history of bad debt at banks...

Transaction activities at BIDV Bank Bien Hoa branch. Photo: H.Quan

A representative of ACB Bank Dong Nai branch said that customers aged 18-40 with good and stable income to repay debt (for example, income from salary) from 15 million VND/month or more can access ACB's First Home Loan Program. When participating in this loan program, ACB staff will advise on choosing pre-designed interest rate packages. If customers choose a fixed interest rate period for the first 3 months, the interest rate will be 5.5%/year. Longer fixed interest rates will have higher loan interest rates, ranging from 5.5-8.5%/year, helping young people have more choices for their financial plans.

As one of the first banks to launch a preferential loan package for young people to buy houses, by the end of March 2025, ACB Bank Dong Nai branch recorded 120 customers interested in this loan package and 6 files are in the process of loan procedures.

Similarly, Mr. Nguyen Phan Duc Huy shared that to access the BIDV Loan Program, young people with houses and borrowers need to meet basic conditions on debt repayment ability, loan ratio, and debt repayment history according to general regulations. In addition, this loan package has its own conditions such as: only applicable in cases where customers borrow to buy real estate; husband and wife must be within the maximum age of 35 years old, calculated by year of birth. Currently, customers do not have outstanding home loan balances at BIDV and customers can only participate in the loan package once to buy a house...

Mr. Bui Truong Giang (33 years old, office worker in Tan Phong ward, Bien Hoa city) expressed: “My monthly income is about 20 million VND. Saving enough money to buy a house in Bien Hoa is now a really difficult problem. Therefore, the fact that banks have home loan programs with preferential interest rates for young people will be a motivation for young people like me to work hard and save to realize the dream of settling down.”

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Source: https://baodongnai.com.vn/kinh-te/202504/ngan-hang-dong-loat-tung-goi-ho-tro-nguoi-trevay-mua-nha-72d2a57/