Young Adults Leverage Financial Benefits to Buy Homes
A young couple, Anh Tú (29, Hanoi), has just decided to purchase an apartment worth 3.2 billion VND. Half of the amount was funded through a bank loan. Anh Tú shared that they had been saving up for a few years but decided to take advantage of the current favorable loan interest rates and attractive credit packages offered by banks. With the rising real estate prices, it would be challenging for young families like them to buy a home solely through savings.
“Initially, my wife and I thought we had to save enough money before buying a house. However, after consulting with friends, we changed our minds. Given the rapid increase in real estate prices, it’s difficult for young couples like us to accumulate enough funds. Luckily, banks now offer more attractive home loan packages,” said Anh Tú.
According to a report by Batdongsan.com.vn on consumer trends and psychology in the real estate market, young people today are more inclined to use financial leverage to invest in real estate compared to older generations. Notably, 75% of individuals aged 22-29 choose to take out loans to buy homes, compared to 68% for those over 30.
Currently, interest rates have reached their lowest point in the last 20 years, thanks to the State Bank’s continuous adjustments in reducing operating interest rates. This has provided an excellent opportunity for people to own or improve their homes or start new businesses without having to accumulate sufficient capital beforehand.
Banks Support the Dream of Home Ownership
National Citizen Bank (NCB) has introduced super-attractive credit packages to support customers in obtaining loans and reducing financial pressure. These packages have gained significant attention and popularity among customers.
NCB has designed a specific package for young people to help them achieve their dream of “home ownership” and for families who wish to renovate or upgrade their living spaces. With this credit package, NCB offers a short-term interest rate of 3.99%/year for the first three months for customers borrowing to purchase, construct, or repair real estate. For long-term loans, customers only need to pay an interest rate of 6.99%/year for the first 24 months. This program is valid until June 30, 2024.
 NCB accompanies customers in realizing the goal of “home ownership”
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For first-time homebuyers, the interest payment is even lower than the average rent, allowing them to own their home and enjoy a more comfortable life.
NCB’s preferential interest rates also ease the financial burden on borrowers during the initial loan period, allowing them to invest or plan their finances for the following years, ensuring a smooth long-term repayment schedule.
Additionally, NCB has designed a specialized package for individual customers seeking capital to start and develop their businesses. From now until June 30, 2024, customers borrowing for production and business activities at NCB will enjoy an interest rate of only 5.99%/year. With an extended preferential period of up to 11 months, this financial solution helps individuals and households easily supplement their working capital for short-term business or long-term production development.
NCB increases credit access opportunities for businesses
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In addition to lowering interest rates and increasing access to affordable capital for customers, NCB continuously updates, simplifies, and optimizes its processes and procedures. The bank also offers flexible policies to ensure timely capital provision for customers, such as waiving prepayment fees for loans repaid before the due date. With its efficient approval processes, NCB helps customers seize investment opportunities and expand their business operations.
In recent years, NCB has been undergoing a comprehensive transformation, continuously upgrading its products and services, and gaining the trust of its customers. With its comprehensive credit solutions and dedicated services, NCB is committed to becoming a reliable companion for customers on their life journeys, providing optimal support and delivering sustainable value to the community.
