Agribank has announced the suspension of several preferential lending programs for individual customers, including the home loan program for young buyers. The bank has also halted its preferential loan program for purchasing homes, transferring land use rights, and constructing, repairing, or renovating homes.
However, Agribank continues to offer its social housing loan program for individuals under 35, with an interest rate 2% lower than the average long-term VND lending rate of four state-owned commercial banks (Agribank, BIDV, Vietcombank, and Vietinbank) for the first five years. The current interest rate stands at approximately 6.1% per annum.
A credit officer from BIDV confirmed that their preferential loan program for young buyers of commercial housing has been temporarily suspended. Previously, individual customers up to 35 years old could access a fixed interest rate of 5.5% per annum for three years, with loan terms up to 40 years and a five-year grace period on principal payments, applicable to loans up to VND 5 billion per customer.
According to reports from *Báo Người Lao Động*, several other commercial banks continue to offer home loan programs for customers, albeit with slightly increased interest rates.
A Vietcombank credit officer in Ho Chi Minh City stated that their home loan program for young buyers remains active, but the interest rate has risen to 6.3% per annum initially, up from below 6% previously.
A representative from another state-owned commercial bank confirmed that their preferential loan programs for young home buyers are still available, though interest rates are no longer as favorable as before.
Several banks have prematurely discontinued low-interest loan programs for young home buyers amid rising deposit interest rates.
Credit officers from other commercial banks such as BVBank, SHB, and HDBank confirmed that their preferential home loan programs remain active. However, interest rates vary depending on the type of property and are subject to change over time.
The early suspension of low-interest loan programs for young buyers comes as banks face rapid credit growth and increasing funding costs. Some existing borrowers have reported receiving notifications from their banks about interest rate hikes.
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