For the remaining months of this year, many of Da Nang’s commercial banks are giving top priority to offering loans to clients wanting to buy residential land, houses and cars or repair their existing homes.

The city’s branch of the Bank for Foreign Trade of Viet Nam (Vietcombank) is offering preferential loan packages at an interest rate of 7% pa to those who want to access consumer-purpose loans.  In particular, borrowers who have their salaries paid through Vietcombank branches will enjoy an interest rate 0.2% pa lower than normal.

A transaction at the city’s branch of Sacombank

The local branch of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) is providing preferential loan packages at between 7.2% and 8.99% pa over a 20-year term for clients who want to buy or build new houses, or repair their existing ones.  Borrowers who access bank loans for personal consumer purposes will enjoy an interest rate of between 6.99% and 7.99% pa, whilst those who want to develop their business production activities can borrow at between 7% and 9% pa.  Loan packages at rates between 6.5% and 8.99% pa over a 5-year term are being offered to local clients who want to buy cars.

Borrowers are required to have a specific purpose for their loan and a mortgaged property, as well as the capacity to meet their repayments.  The banks are responsible for speedily completing all the necessary procedures to allow their customers to access their loans quickly, and for providing the procedures for debt repayments.