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After the meeting of the State Bank chaired by the Governor, a number of commercial banks have reduced both deposit rates and lending rates to support enterprises and households. The State Bank’s statistics indicate that several banks have lowered listed deposit and loan rates, with deposit rates cut by about 0.1–0.5 percentage point, mainly for terms of six months or longer. Some banks also announced reductions in both deposit and lending rates.
Following the rate cuts, many people seeking home loans have started contacting banks again to ask about loan packages and home loan promotions.
Hoang Quang, a resident of Hiep Binh Ward in Ho Chi Minh City, said he contacted several bank credit officers to inquire about mortgage rates. Some credit officers told him that deposit rates had fallen, but loan rates would take more time to adjust.
Quang said he plans to buy a condo priced around 5–6 billion VND, with a loan need of about 3 billion VND. He noted that if the average loan interest rate is around 10–11% per year, his family finances can handle it, but at 13–14% per year he would not dare to borrow.
Mortgage loan rates are expected to decline after long-term deposit rates cool.
A reporter noted that TPBank’s mortgage rates are among the lowest, at 9.8% per year fixed for the first 6 months, with an interest rate margin of 3.3% after the floating period. Prepayment penalties are 3% in the first year and then decrease. Other mortgage rate levels at TPBank are 10.8% and 12.8% (fixed for 12 months or 18 months, respectively).
BVBank said it is continuing to implement two preferential credit packages totaling 4.8 trillion VND for individuals nationwide, including a mortgage loan package and secured consumer loans. Borrowers can choose the promotion period and promotional rate from 10% per year as needed.
KienlongBank applies mortgage loan rates for home purchase, transfer of ownership, construction, and renovation of real estate, with an initial fixed rate starting at 10.9% per year for the first 6 months. The bank said this rate has decreased by 1 percentage point compared with before, following the State Bank’s meeting with commercial banks.
Meanwhile, HDBank offers home loans with fixed rates of 9.1% per year for 12 months and 9.8% per year for 24 months. For consumer/house repair loans, rates range from 9.1% to 10.8% per year depending on the initial fixed period of 6–24 months.
Regarding the policy to control credit in the real estate sector and concerns that capital inflows into this segment could affect homebuyers, Nguyen Le Nam, Head of Personal Banking at ACB, said the NHNN directive to control lending in real estate does not mean stopping lending, but rather directing credit to the right targets and ensuring genuine needs are met.
Nam added that interest rates have adjusted upward recently, but banks do not want to raise rates too high. If borrowers accept high rates, risks increase, which can indirectly affect bank operations. Since the beginning of April, in line with NHNN guidance, rates have shown signs of moderation, and some banks have cut rates by 0.5–1 percentage point.
“For borrowers who are investors or end buyers, ACB identifies that individuals or organizations with real need to borrow for home purchase—not for speculation—require policy adjustments and tailored solutions for each group,” Nam said.
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