Borrowing money is no longer a foreign concept to many people. Nowadays, not only businesses but also individuals turn to borrowing to solve financial issues such as buying a house, starting a business… As of now, BVBank is one of the banks with the most competitive interest rates, with interest rates starting from 5% per year, applying to new disbursements for the purpose of buying, repairing residential properties, or supplementing capital for production and business. BVBank also adjusts the interest rate margin for borrowing after the promotion period to only 2% per year.
In addition to preferential interest rates, BVBank also integrates many other value-added benefits to provide more advantages to customers. Let’s explore the 3 additional factors that customers are most interested in besides the interest rate when choosing loan packages.
Maximum borrowing rate up to 75% of the value and principal deferral
For home buyers, bank loans are leverage to help them achieve their housing goal sooner. Currently, the bank lends up to 75% of the value of real estate. The collateral assets can be intended to be purchased or other equivalent valuable assets. At the same time, BVBank’s home loan package also has a 24-month principal deferral.
After considering and accumulating a sum of money, Mr. Duy Lan, 35 years old, in Quy Nhon City, decided to choose BVBank’s loan package because besides the competitive interest rate, the loan policy is also suitable for his family’s financial capabilities. Mr. Lan said: “At the beginning of this year, due to the demand and market research, I realized that this is a rare golden opportunity to buy a house. If I don’t buy it, I’m afraid of missing out. Besides the very good interest rate, I also have the option to choose a suitable repayment schedule based on my financial situation, so I decided to borrow to buy. The 75% loan-to-value ratio and the 24-month deferral of principal payment help me reduce the financial pressure in the early stage and provide motivation to save more.”
The high loan-to-value ratio advantage helps home buyers only need to save a sum of money of about 25-30% of the home value to start realizing their housing dream instead of having to extend the time. This is also a reasonable ratio that real estate experts recommend for homebuyers to consider to ensure their repayment capacity. At the same time, the long-term principal deferral (24 months) allows buyers to have more time to prepare the necessary funds. The high maximum loan-to-value ratio and principal deferral are a double solution to help buyers reduce financial pressure when deciding to make a payment.
Golden time helps young people reduce pressure when realizing housing dreams with preferential interest rates, high loan-to-value ratio, and flexible repayment
Flexible choice of repayment schedule
Repayment pressure is not comfortable for those who have decided to borrow from banks for specific purposes, especially for large loans such as buying a house or business loans. Understanding this, BVBank’s loan packages are “attached” with the “flexible repayment schedule” benefit, which allows customers to have multiple options to choose from. Customers can either repay both the interest and principal monthly or repay the interest and principal at the end of the period, or even divide it into monthly principal or interest payments and pay the remaining principal or interest at the end of the term.
In addition, with the home purchase or offset, home improvement loan package, borrowers can repay 50% of the principal during the loan term, and the remaining 50% of principal in the last installment; the preferential production and business loan package allows borrowers to repay 30% of the principal during the loan term, and the remaining 70% of principal in the last installment.
Ms. Hạnh Liên, a small trader at Binh Tay Market (Ho Chi Minh City), said: “At the beginning of this year, I borrowed money from the bank to import more goods. Thanks to the loan package, I only have to repay 30% of the principal during the loan term, and the remaining amount will be paid in the last installment, so I am less worried and have the confidence to invest more capital to expand the product line. Monthly loan interest payments are less burdensome and give me more motivation to focus on selling.”
Fast and simple procedures, same-day approval
Thanks to the development of technology and determined streamlining of administrative procedures by banks, the loan application process has become easier and more user-friendly. At BVBank, customers are supported with maximum assistance in loan procedures, documents, and papers. Borrowers only need to provide information on the loan website and simply prove their income. The bank will assess credit and assets through Zalo or Video call, and the application will be approved on the same day. In addition, customers can easily track repayment schedules and make loan payments through the Digimi digital banking application.
With competitive loan interest rates and additional benefits in loan packages, BVBank is making efforts to bring customers the most convenient and beneficial solutions along with attractive policies. Easy access to loan products creates opportunities for users, especially young people, to start realizing their housing dreams or confidently borrow for business purposes, taking control of their finances. This is the golden time to start; if not now, you may miss out on the predicted market recovery.
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