Information from Asia Commercial Joint Stock Bank (ACB) said that since early August 2012, ACB earmarked a credit line worth five trillion dong for home loans with the preferential interest rate of 14.5 percent per year.
These soft loans will be given to Vietnamese or overseas Vietnamese individual customers who are allowed to own real estate in Vietnam to buy houses, apartments, factories, warehouse and residential land.
Accordingly, customers can borrow up to 99 percent of the real estate value they purchase at the interest rate of 14.5%/year with a loan term of up to 20 years together with a grace period of 12 months. The disbursement will be made once or in many times according to the actual payment schedule.
Thus, this is the fifth time within this year, ACB has reduced the lending interest rate. In the latest adjustment, the lender provided property loans at the lowest interest rate of 15.5 percent per year.