Which bank has the best home loan interest rate in December?

The bank with the most preferential home loan rates today is VPBank with interest rates of 4.6%/year fixed for 3 months; 5.9%/year fixed for 6 months; 7.2%/year fixed for 12 months; 9.8%/year fixed for 18 months; or 10.3%/year fixed for 24 months. This interest rate applies to loans of at least 48 months, the interest rate margin after preferential treatment is 3.5%. Currently, VPBank's floating interest rate is around 11%/year.

This month, Techcombank applies interest rates of 5%/year fixed for 3 months, 6.3%/year fixed for 6 months, 6.7%/year fixed for 12 months, 7%/year fixed for 18 months, 7.5%/year fixed for 24 months.

Next is SeABank, the interest rate for home loans and consumer loans is fixed at 5.5%/year for the first 12 months, from year 2 the interest rate will be floating at the base interest rate plus a margin of 3.35%, currently around 11%/year.

VIB Bank has a mortgage interest rate of 6.5%/year fixed for 12 months, 7.5%/year fixed for 24 months. After the preferential period, the floating interest rate is calculated by the base interest rate plus a margin of 2.5%. For loans to buy debt, the interest rate will be reduced by 0.5%.

Next, BVBank is implementing interest rates for real estate loans, production and business loans, consumer loans, and car loans at 6.99% (first 6 months), 7.49% (first 9 months), 7.99% (first 12 months), 8.49% (first 18 months), 8.99% (first 24 months).

With Sacombank, the fixed interest rate is 6.5%/year for the first 6 months, 7%/year for the first 12 months, or 7.5%/year for the first 24 months, applied when customers borrow for living purposes (buying, building, repairing real estate; buying cars; consumption) from now until December 31, 2024.

For the group of state-owned banks, the medium and long-term loan interest rate for home loans, living needs and real estate business of Agribank still maintains the interest rate of 7%/year fixed for the first 24 months. The interest rate will be lower when the borrower is fixed for the first 6 months at 6%/year fixed for the first 6 months; 6.5%/year fixed for the first 12 months (applied to loans with a minimum term of 3 years); or 7%/year fixed for the first 24 months (applied to loans with a minimum term of 5 years).

The preferential interest rate for home loans at BIDV is currently 5.2%/year applied for the first 6 months or a fixed interest rate of 6%/year for the first 24 months. After the preferential interest rate, the home loan interest rate will be floating and calculated as the 12-month mobilization interest rate plus a margin of 4%.

VietinBank home construction and repair loans with interest rate packages: fixed 6%/year for the first 12 months; fixed 6.5%/year for 18 months, fixed 6.7%/year for the first 24 months, or fixed 8.2%/year for the first 36 months. Interest rate margin after incentives: 3.5%, currently VietinBank's floating interest rate is around 9%/year. VietinBank currently has a maximum loan limit of 70%. Early repayment fee at VietinBank for the first 2 years is 2%, from the 4th year, customers will be exempted from early repayment fees.

The interest rate package for home loans at Vietcombank is also quite attractive, specifically as follows: Only from 5.5%/year in the first 6 months for loans under 24 months, from 5.7%/year in the first 12 months for loans over 24 months, 6.5%/year fixed in the first 2 years; 8.5%/year fixed in the first 3 years.

After the preferential period, the interest rate is calculated by Vietcombank's 12-month post-paid deposit rate plus 3.5%, currently around 9%/year. The program is valid until March 31, 2025 or until the program's scale is exhausted.

Although the interest rate for home loans is quite low, Dr. Nguyen Tri Hieu - an economic expert, assessed that the current home loan packages are not very effective. The main reason is that the house price is high but the preferential period compared to the loan term is too short, not suitable for the people's economy.

According to Mr. Hieu, it is reasonable to extend the preferential period and the interest rate should be only a maximum of 8%/year after floating so that people do not have financial burdens and there should be more preferential policies for first-time home buyers. This may not stimulate demand for home loans immediately but will help many people who do not have a home find a place to live.

However, Mr. Hieu said that the State Bank's operating interest rate is currently at a relatively low level, at 3 - 4.5%/year compared to the target inflation of 4 - 4.5%. The real interest rate gap between the operating interest rate and inflation is relatively narrow. Therefore, there is not much room for further monetary easing. However, Mr. Hieu still hopes that banks can consider further reducing lending interest rates for people.

In addition to reducing home loan interest rates, Mr. Hieu suggested quickly amending the interest rates of the 120,000 billion VND or 30,000 billion VND packages and, importantly, increasing the supply of affordable housing.

Chau Anh

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