Update home loan interest rates November 2024

While interest rates for commercial housing loans have not changed significantly, the social housing segment has seen a sharp increase in interest rates, from 4.8% per year to 6.6% per year.

With Agribank , loans with a minimum term of 3 years will have a fixed interest rate of 6.5%/year for the first 12 months. With a 5-year loan, the interest rate is fixed at 7%/year for the first 24 months.

For Vietcombank , short-term loans will have interest rates from 5.7% for the first 12 months; 6.5% for 2 years; or 8.5% for 3 years.

Interest rates on commercial housing loans remained almost unchanged compared to last month. Photo: Stock Express News

At VietinBank , this bank is offering a preferential loan interest rate of about 6%/year for the first 12 months. For medium and long-term loans, the fixed interest rate for the first 18 months will be 6.5%/year or 6.7%/year for the first 24 months.

With BIDV, this bank has a preferential interest rate of about 5%/year for the first 6 months with a term of 36 months. Or 5.5%/year fixed for 12 months with a term of 60 months.

In the group of joint stock commercial banks, BVBank recorded a fixed interest rate of 6.9% in the first 6 months; 8.49% in 18 months.

TPBank has a fixed interest rate of 6.6% for the first 12 months with a minimum loan term of 48 months. In addition, this bank also has a loan package with a minimum term of 72 months with a fixed interest rate of 7.1% for the first 24 months.

MSB can currently be considered one of the commercial banks with the lowest interest rates, fixed at around 4.5% for the first 6 months. This figure for fixed loans in the first 12 months is 6.2%.

Sacombank has the same interest rate as in September 2024, when the preferential loan rate is still around 6.5%/year in the first 6 months; 7% in the first 12 months; or 7.5% in 24 months.

Similarly, MBBank still has preferential home loan interest rates of 7.5% for the first 6 months; 7.9% for 12 months; 9% for 24 months.

HDBank has preferential interest rates for the first 6 months at 5%; for the first 12 months at 6.5%; for 24 months at about 8%.

Woori Bank recorded a fixed interest rate of 5.3% for the first 12 months; 6% for the first 24 months; and 6.4% for 36 months.

Borrowers should note that all of the above figures are preferential interest rates and are only applicable for a certain period of time. When the term expires, the interest rate will return to the floating rate, fluctuating between 8.7 - 11.7%/year.

While the interest rate for commercial housing loans has not changed significantly compared to the previous month, the social housing segment has recorded strong fluctuations. Currently, the interest rate for social housing loans from the Vietnam Bank for Social Policies has increased to 6.6%/year, from 4.8%/year.

This change stems from Decree 100/2024/ND-CP stipulating that the interest rate for social housing loans will be equivalent to the lending interest rate for poor households as prescribed by the Prime Minister from time to time. Since the lending interest rate for poor households is currently 6.6%/year, the interest rate for social housing loans must also be at the same level.

According to Ms. Cao Thi Thanh Huong, Senior Manager of Market Research at Savills, homebuyers need to determine their expected income and expenses for at least the next 12 months to ensure their ability to pay. In addition, the loan amount should only correspond to about 50% of the house value to reduce the pressure of financial leverage.

Source: https://baodautu.vn/batdongsan/cap-nhat-lai-vay-mua-nha-thang-112024-d229532.html