Which bank has the best deals?

One of the banks with the lowest home loan interest rates on the market today is Woori Bank at 7.2%/year, with a maximum loan ratio of 80% and a maximum loan term of 30 years.

Next are the banks: SHB, MBBank, Hong Leong Bank all have interest rates of 7.5%/year with maximum loan ratios from 75 - 80%.

Other banks also have quite high preferential interest rates including: Shinhan Bank (7.6%/year); BIDV (7.8%/year); Agribank and Vietcombank (8%/year); HDBank (8.2%/year)...

Home loan interest rates at many banks have dropped sharply.

The group of banks with high home loan interest rates currently include Maritime Bank with 10.99%/year; Vietnam Technological and Commercial Joint Stock Bank (Techcombank) with 10.5%/year.

Next is HSBC with 9.75%/year. This is also the bank with the largest reduction in lending interest rates when last month this bank applied 11.5%/year.

In October 2023, home loan interest rates of many banks continued to decrease below 10%/year.

In addition to HSBC, Hong Leong Bank (down 1.75%) also drastically reduced interest rates for home loans. Currently, this bank applies a rate of 7.5%/year, down 1%/year compared to 1 month ago.

It can be seen that in October, home loan interest rates have decreased quite deeply. However, the reduction is only applied to a few individual banks and has not spread to the whole market.

As of September 29, 2023, credit in the entire economy reached about VND 12,749 trillion, up 6.92%. For the real estate sector, the State Bank has directed and requested credit institutions to create favorable conditions for real estate project investors and home buyers to access credit when fully meeting the credit granting conditions as prescribed; consider granting credit to both investors, construction contractors, home buyers and production units providing construction materials and supplies to increase capital circulation and liquidity for the real estate market.

At the same time, the State Bank requested relevant units to urgently issue documents guiding the main contents on interest rates and preferential periods to implement the VND120,000 billion program to develop social housing, workers' housing and renovate and rebuild old apartments according to Resolution 33 of the Government.

Ngoc Vy

Source