As of early November 2024, a survey of commercial banks revealed that housing loan interest rates are fluctuating between 4.6% and 9.5% per annum. After the promotional period, the floating rate for existing borrowers from these banks mostly exceeds 11.7% per annum.
Among commercial banks, Eximbank currently offers the most competitive housing loan rate with a fixed interest rate of 3.5% per annum for the first two months, followed by 7.5% per annum for the next 22 months. Eximbank’s current floating rate stands at approximately 10-11% per annum.
HDBank follows suit with attractive fixed rates: 3.5% for the first three months, 5% for the first six months, 6.5% for the first year, or 8% fixed for the initial two years. Post this promotional period, the floating rate with a margin of 4% will be applicable, which currently stands at around 11% per annum.
November witnessed minimal fluctuations in housing loan interest rates compared to the previous month. (Illustrative image)
PVComBank offers fixed rates of 3.99% for the first three months, 5.99% for the initial six months, 6.2% for the first year, and 6.99% for the first 18 months. Post this period, a floating rate based on the formula (base rate + 3.3% margin) will be applied, resulting in a current rate of approximately 10-11% per annum.
VPBank also provides promotional rates with 4.6% fixed for three months and 5.9% fixed for six months. The margin post this promotional period is 3.5%, and their current floating rate is approximately 11% per annum.
TPBank offers fixed rates of 6.6% for the first year, 7.1% for the initial two years, and 7.6% for the first three years, with a current floating rate of around 11.4% per annum.
BVBank’s housing loan rates are set at 6.99% (for the first six months), 7.49% (nine months), 7.99% (one year), 8.49% (18 months), and 8.99% (two years). Their floating rate currently hovers between 10% and 11% per annum.
This month, Techcombank offers promotional rates of 5% for three months, 6.3% for six months, 6.7% for one year, 7% for 18 months, and 7.5% for two years. Post this period, a floating rate with a 3.5% margin will be applied, resulting in a current rate of approximately 10-11% per annum.
SHB provides fixed rates of 6.2% for six months, 7.6% for one year, 8.6% for 18 months, and 9.2% for two years. The margin post this promotional period is 3%, and their current floating rate is approximately 10% per annum.
In the state-owned bank group, BIDV offers a promotional housing loan rate of 5.2% per annum for the first six months or a fixed rate of 6% per annum for the first two years. After this period, the floating rate will be based on the 12-month deposit rate plus a 4% margin.
VietinBank provides various packages, including: a fixed rate of 6% per annum for the first year, 6.5% for 18 months, 6.7% for two years, or 8.2% for three years. The margin post this promotional period is 3.5%, and their current floating rate is approximately 9% per annum.
Vietcombank also offers attractive housing loan packages: as low as 5.5% per annum for the first six months for loans under 24 months, 5.7% per annum for the first year for loans over 24 months, 6.5% fixed for the initial two years, or 8.5% fixed for the first three years. After the promotional period, the rate will be based on Vietcombank’s 12-month post-paid deposit rate plus a 3.5% margin, currently standing at around 9% per annum.
Agribank maintains a fixed rate of 7% for the first two years, with lower rates available for shorter fixed-rate periods: 6% for the first six months, 6.5% for the initial 12 months (applicable to loans with a minimum term of three years), or 7% for the first 24 months (applicable to loans with a minimum term of five years)
“Green Loans: Unlocking Sustainable Opportunities”
Despite the strong commitment demonstrated by banks to promote green credit, the outstanding balance in this area remains merely “symbolic”.
Boosting Year-End Credit
As of the end of September, the banking sector’s outstanding credit increased by 9%. In September alone, banks disbursed nearly VND 300,000 billion, indicating a surge in seasonal capital demand as the year draws to a close.
What Direction Will Mortgage Rates Take in September?
As we move into September, there has been a slight increase in housing loan interest rates at some banks, while the interest rates for social housing loans under the VND 120,000 billion package have decreased by 1-2%.
