A Surge of Credit Stimulus Measures
According to a survey conducted by our journalists, home loan interest rates offered by banks range from 3.88% to 5.5% per year for the first 1-3 years. This is the lowest interest rate ever offered to young families under 35 years old.
A number of banks have joined the race to offer low-interest loans to young people buying their first homes, including MB, ABBank, ACB, LPBank, HDBank, SHB, Eximbank, TPBank, Vietcombank, BIDV, VietinBank, and Agribank…
Currently, BIDV is offering a credit package with an interest rate of 5.5% per year for the first three years and a loan term of up to 40 years, the longest in the market.
A BIDV representative shared that over 2,000 loans have been disbursed since March.
Agribank has launched a program with a fixed interest rate of 5.5% per year for the first three years. Customers can borrow up to 75% of their capital needs by mortgaging the property formed from the loan.
Vietcombank offers a loan package with interest rates starting from 5.2% per year. Customers can use the property formed from the loan as collateral and receive up to 70% support for the value of the house.
Commercial joint-stock banks such as MSB have also launched preferential home loan packages for young people with interest rates starting from 4.5% per year. LPBank introduced a package worth VND 5,000 billion with an initial interest rate of 3.88% per year, while ACB offers an interest rate of 5.5% per year for young borrowers.
 Young people are enjoying unprecedented low-interest rates on home purchases. |
An ACB representative shared that the bank has disbursed VND 3,000 billion in loans to young home buyers since the beginning of the year. Currently, banks are not only competing on interest rates but also providing added value through legal advice, more flexible loan conditions, adjustable repayment timelines, and tailored payment plans. If the interest rate after the promotional period is too high, customers can transfer their loan to another bank with better terms.
Improving Home Loan Debt
This year, the banking industry aims for a credit growth rate of about 16%, equivalent to VND 2.5 quadrillion injected into the market. According to the State Bank of Vietnam, as of mid-April, the credit growth of the whole system reached about 3.95% compared to the end of 2024.
In Ho Chi Minh City, the total credit debt in the real estate sector reached VND 1,116,000 billion by the end of April, an increase of 0.34% compared to the previous month and 2.85% compared to the end of 2024. The scale of real estate credit continues to account for about 28% of the total credit debt in the city.
Of this, credit for self-use real estate (home purchase loans, land use right transfers for building houses, home repair loans, etc.) still accounts for a large proportion, at 65%, reaching VND 727,000 billion. This represents an increase of 0.05% compared to the previous month and 0.65% compared to the end of 2024.
Economic expert Nguyen Huu Huan shared that home loan interest rates offered by banks are at their lowest ever, even lower than during the COVID-19 pandemic. The current average interest rate is about 5-7% per year, 3-4% lower than in early 2020, equivalent to a reduction of 30-50% depending on the bank.
“The preferential interest rate policy for home loans for people under 35 years old is a good solution to encourage young people to own their first home. However, not everyone can access this policy due to high property prices compared to the income of most young people. Only those with high incomes will find it easier to borrow,” said Huan.
Some other experts advised that homebuyers should carefully consider their financial situation and calculate their cash flow throughout the loan period before making a decision, rather than focusing solely on the initial low-interest rate.
Ngoc Mai
– 18:08 09/06/2025
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