Leading the pack in preferential home loan interest rates is TPBank, offering a promotional rate of 0% p.a. for the first three months, followed by 6.6% p.a. for the first year, 7.6% p.a. for the first two years, and 8.6% p.a. for the first three years. Their current floating interest rate stands at 11.2% p.a.
VPBank follows closely with an interest rate of 4.6% p.a. fixed for the first three months, 5.9% p.a. for six months, 7.2% p.a. for one year, 9.8% p.a. for 18 months, or 10.3% p.a. for two years. These rates are applicable for loans with a minimum term of 48 months, and the post-promotional margin is set at 3.5%.
ABBank also offers competitive rates, with home loan interest rates starting from 7.3% p.a., business loans from 4.99% p.a., and debt repayment loans from other banks at 6.5% p.a. This promotion is valid until December 31, 2024, or until the program limit is reached.
Sacombank joins the fray with a fixed interest rate of 6.5% p.a. for the first six months, 7% p.a. for the first year, or 7.5% p.a. for the first two years. This offer is available until the end of 2024.
Interest rates for home, land, and real estate loans at many commercial banks showed signs of an upward trend in September 2024. (Illustrative image)
BVBank is also in the mix, offering promotional rates for real estate, business, consumer, and auto loans at 6.99% p.a. for the first six months, 7.49% p.a. for nine months, 7.99% p.a. for one year, 8.49% p.a. for 18 months, and 8.99% p.a. for two years.
The post-promotional margin varies from 1.9-3.9% p.a., depending on the loan term. Prepayment penalties for years 1-2 are set at 2.5% p.a., year 3 at 2% p.a., year 4 at 1.5% p.a., and from the fifth year onwards, it’s 1% p.a. BVBank’s current floating interest rates range from 10-11% p.a.
The state-owned bank group, including Agribank, Vietcombank, Vietinbank, and BIDV, offer home loan interest rates ranging from 5.2-8.5% p.a.
BIDV takes the lead with the most attractive rates in Hanoi and Ho Chi Minh City, offering 5.2% p.a. fixed for the first six months, 5.5% p.a. fixed for the first year (for loans with a minimum term of 36 months), or 6% p.a. fixed for the first 18 or 24 months (for loans with a minimum term of 60 months).
For other provinces, BIDV offers 6% p.a. fixed for the first year or 24 months (for loans with a minimum term of 36 months), and 6.5% p.a. fixed for the first 18 or 24 months (for loans with a minimum term of 60 months).
Vietcombank presents its own competitive packages, with home loan interest rates fixed at 5.7% p.a. for the first year, 6.5% p.a. for the first two years, and 8.5% p.a. for the first three years. After the promotional period, the interest rate is based on Vietcombank’s 12-month post-paid deposit rate plus 3.5%, currently around 9% p.a.
Vietinbank offers fixed rates for home construction and renovation loans: 6.0% p.a. for the first year, 6.2% p.a. for 18 months, 6.7% p.a. for two years, or 8.2% p.a. for three years.
Agribank provides medium and long-term interest rates for production and business loans, loans for life needs, and real estate business loans, with a fixed rate of 6% p.a. for the first six months, 6.5% p.a. fixed for the first year (for loans with a minimum term of three years), or 7% p.a. fixed for the first two years (for loans with a minimum term of five years).
