Many customers have expressed questions about home loan interest rate How much is it in banks? The following article lamchutaichinh.vn will help you answer these questions.
Home Loan Interest Rate Latest Update May 2022
Before, during and after the Lunar New Year, most banks still keep the home loan interest rates that were deployed before. Oriental Bank, in February, continued to maintain the lowest loan interest rate of 5.99%/year. In general, this time the interest rate ranges from 5.99%/year to 11.5%/year.
In addition, some banks are moving to reduce lending rates to meet the needs of customers to buy houses, especially before Tet. These are the following banks: Shinhan Bank with preferential interest rates reduced from 6.9%/year to 6.7%/year; Agribank implemented a preferential lending interest rate at 7%/year, down 0.5 percentage points compared to the previous month.
| STT | Bank | Preferential interest rate (%/year) | Maximum loan rate (%) | Maximum loan term (years) | Interest margin after incentives |
| first | OCB | 5.99 | 100 | 20 | LSTK 13T + 3.5% |
| 2 | Standard Chartered | 6.45 | 75 | 25 | CPV – 1.5% |
| 3 | Shinhan Bank | 6.7 | 70 | 20 | CPV 6T + 3.9 |
| 4 | Hong Leong Bank | 6.75 | 80 | 20 | LSCS + 1.5% |
| 5 | VPBank | 6.9 | 75 | 35 | LSCS + 4% |
| 6 | MSB | 6.99 | 80 | 20 | LSCS + 3.5% |
| 7 | TPBank | 7 | 85 | 20 | LSTK 12T + 3.5% |
| 8 | Woori Bank | 7 | 70 | 15 | LSTG 6T + 2.2% |
| 9 | Agribank | 7 | 85 | 15 | LSTK 13T + 3% |
| ten | Techcombank | 7.29 | 70 | 25 | LSCS + 1.8% |
| 11 | PVcomBank | 7.49 | 80 | 20 | LSCS + 4% |
| twelfth | Vietcombank | 7.7 | 70 | 15 | LSTK 24T + 3.5% |
| 13 | Vietinbank | 7.7 | 75 | 25 | LSTK 36T + 3.5% |
| 14 | BIDV | 7.8 | 80 | 20 | LSTK 24T + 3.5% |
| 15 | HSBC | 7.99 | 70 | 25 | LSCS + 0.75% |
| 16 | VIB | 8.3 | 90 | 30 | LSTK 12T + 3.9% |
| 17 | UOB | 8.7 | 75 | 15 | LSCS + 1.29% |
| 18 | Bac A Bank | 8.99 | 90 | 25 | LSTK 24T + 4% |
| 19 | Eximbank | 11 | 70 | 20 | LSTK 24T + 3.5% |
| 20 | Sacombank | 11.5 | 100 | 25 | LSTK 13T + 4.7% |
Table of interest rates for home loans at banks
Analysis of Fluctuations in Home Loan Interest Rates at Banks
Based on the table of home loan interest rates of banks in February, it is easy to see that the lending incentive at Orient Bank (OCB) is as low as 5.99%/year. And yet, this bank accounts for a high loan rate of up to 100% of the house value with a maximum loan period of 20 years. Therefore, customers will receive financial support to quickly own the apartment or house of their dreams.
Behind Phuong Dong is Standard Chartered Bank Vietnam when applying an interest rate for home loan customers of 6.45%/year. This seems to be the same number as last month. In addition, Standard Chartered Bank implements a loan limit of 75% with a maximum period of 25 years.
The home purchase interest rate of 6.7% and 6.75% respectively is applied at Shinhan Bank and Hong Leong Bank with a maximum term of 20 years. However, there is a difference between the loan limit at the two banks, when Shinhan Bank only lends up to 70%, Hong Leong Bank allows customers to borrow up to 80% of the real estate value.
With the remaining groups of banks such as VIB, UOB, Bac A Bank, Eximbank, Sacombank...the interest rates on home loans are quite high. Perhaps the interest rates applied at these banks are the highest among the 20 banks surveyed above. However, with Sacombank, this bank has a move to lend up to 100% to customers in order to create conditions for all customers who have little financial resources and still fulfill their home buying needs.
Instructions on how to borrow money to buy a house effectively
Check home loan conditions
Currently, there are many banks and financial companies that provide home loan services, but with different conditions. Therefore, before taking out a loan, you need to carefully study the conditions that banks and financial companies offer. Then determine if you qualify for a loan.
Different from form quick loan No need to prove, borrowing money to buy a house is completely different. You can determine if you qualify for a home loan by going to the website of your bank or finance company and filling out the online tool on that website.
Loan profile
To get a loan to buy a house, you need to apply for a loan. In this application, in addition to the loan application, you must also provide information and documents about your identity, address, and income.
In terms of income, you must be able to prove it through providing payslips, bank statements, ITR forms, etc. In case you have another loan or collateral, you should also provide information to loan registrant.
After receiving your loan application, the bank or financial company will conduct a fact check on loan information, assets and credit score. If the loan application is approved, you will receive an approval notice from the lending institution.
Agreement to borrow money to buy a house
Next you will be provided with terms for Borrow money to buy a house or apartment. Read these terms carefully and, if you agree, sign a loan agreement with the lender, also known as a credit agreement.
At the time of signing the credit contract, you need to submit the original documents of the collateral and the stamping fee. The stamping fee for loan contracts ranges from 0.1 to 0.2% * of the total loan amount.
Disbursement of home loan capital
After the credit contract is signed, within the agreed time, the bank or financial company will perform its task, which is to disburse the loan.
In case the house you buy is a property under construction, the loan disbursement will be made based on the construction progress. In case the house purchased is an established real estate, the loan will be disbursed immediately.
Expense
When you borrow money to buy a home, you also have to pay a fee, called a loan processing fee. This fee will be paid at the time of applying for a loan.
Note:
- The notice of approval for a home loan is usually valid for 6 months
- To borrow to buy a home, borrowers need to have collateral for the loan
Conclude
Hopefully, customers who are in need of buying a house can choose the bank that offers the most appropriate level of support to both have little financial resources and be able to buy the house as desired.
Information about the level home loan interest rate There will be changes in banks from time to time, so customers need to constantly update to capture the most accurate way.
Articles compiled by lamchutaichinh.vn
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