Which bank offers the best home loan interest rate in May?

Bank interest rates for home loans in May ranged from 4.99%/year to 8.99%/year with the preferential interest rate period from 3 months to 36 months.

In which, Vietnam Maritime Commercial Joint Stock Bank (MSB) has the most preferential home loan with the interest rate of 4.99%/year. This interest rate applies to homebuyers from January 10, 2022 to December 31, 2022 but is only fixed for the first 3 months for loans with a term of more than 24 months. The bank also supports up to 90% of the house value with a loan term of up to 35 years in order to reduce financial pressure on borrowers and support disbursement even when the procedures for transferring the title to the red book have not been completed.

After MSB is PVcomBank with an interest rate of 5%/year. This interest rate is only applied for the first 6 months of the loan, when the preferential period expires, the interest rate will be fixed at 12%/year for the following months. The maximum loan limit at this bank is up to 85% of the value of the collateral, the maximum loan term is 20 years.

With an interest rate of 5.9%/year, TPBank and VPBank are also two names with attractive home loan rates.

Besides, banks also have other preferential interest rates such as Woori Bank (6.1%/year), Hong Leong Bank (6.19%/year), HSBC, Shinhan Bank and Shinhan Bank. BIDV (6.2%/year)…

Having a higher level of lending than banks like Bac A Bank (8.99%/year), Sacombank (8.5%/year) and VIB (8.3%/year),…

It can be seen that the home loan interest rate in early May has hardly changed compared to the previous month.

Early April, State bank sent an official dispatch requesting banks to strictly implement a number of issues to ensure operational safety. In which, controlling credit grants in risky areas such as investment, real estate trading, securities, corporate bonds… Shortly after, a number of banks announced restrictions on disbursement of loans. banking for the real estate sector.

Some banks have now temporarily stopped disbursing and lending real estate-related loans.

For example, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has directed branches and transaction points in the system to control credit growth in 2022, which mentioned not to grant credit to the banking sector. area real estate (except for loans to officials, employees and buyers/construction/repair of residential real estate). In addition, Sacombank also requires units not to mobilize and lend to mortgage books at the same time. This real estate credit control will take place until June 30, 2022.

Mr. Nguyen Van Dinh, Deputy General Secretary of the Vietnam Real Estate Association, said that the credit tightening for real estate has been going on for many years.

However, in recent months, there have been a number of incidents related to real estate cash flows, related to stocks and bonds, so the authorities have tightened even more.

Although affecting a part of investors’ activities and the market, this is a positive move, it will reduce borrowing for speculation, weakening purchasing power, thus reducing speculation. according to.

“For capable businesses with long-term investment needs, they will not depend on financial leverage from bank loans.“, Mr. Dinh stated.