Buy a home on installments with a fixed interest rate ceiling of up to 15 years

Interest rates are 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, now below 4% per year for terms under 6 months.

According to the survey, the interest rates of banks are still on a sharp decline, the highest 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 under 6 months, they all fall 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 average lending interest rate has decreased by about 2.5% compared to the end of 2022. Since 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% and 10.5% per year. When the preferential interest rate period ends, the loan will be subject to a floating interest rate of about 11% and 13% per year, 2% and 4% lower than the same period last year.

This figure for 100% foreign-owned banks is 6% - 9.75%/year. When the preferential loan period ends, the floating interest rate will fall to around 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 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% for the entire 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%, with a loan term of 5 or 10 or 15 years depending on each case and specific needs, with monthly installments of both principal and interest starting from only 15 million VND.

Notably, in the first two years since the bank disburses, 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 guarantees 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 loan 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 loan interest rate, the customer only has to pay 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 for 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.

Bao Anh

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