Joint stock commercial Bank for Investment and Development of Vietnam (BIDV) officially launched a credit package for a commercial housing loan program with a scale of VND 20,000 billion. Interest rates are from 8.5%/ year for developers and 7.8%/ year for home buyers.

Since June 15th, 2023, BIDV has aimed to support and promote the safe, healthy, and sustainable growth of the real estate market, and resolve the housing problem for residents according to the government's orientation. As such, BIDV has officially launched this credit package for commercial houses in real estate with a scale of VND 20,000 billion.

The program is valid until December 31st, 2024, or until the size of the credit package is exhausted, depending on which comes first. Investors of commercial housing projects who have a feasible loan plan, ensure legality, have good marketability, and meet the actual demand for housing in the market will be able to borrow loans with an interest rate is from 8.5%/ year. For individuals with a demand for residential houses, the loan interest rate is from 7.8%/ year.

Previously, following the guidance of The State Bank of Vietnam in terms of implementing the program 120 trillion loans for social housing, worker housing, renovation, and reconstruction of old buildings by Resolution 33/NQ-CP, BIDV has launched a loan package with a scale of VND 30 trillion with a lower interest rate between 1.5-2% compared to normal interest rates of banks.

At the same time, since June 1st, 2023, BIDV has been reducing loan interest rates up to 0.5% per year compared to the current interest rate for existing medium and long-term loans, which have not been applied to any promotion before. This is the second time in 2023 BIDV reduced lending interest rates for existing customers of the bank.

Not only is BIDV reducing lending interest rates, but also actively implementing overall financial support solutions to minimize financial costs and operating costs for businesses and individuals. BIDV's lending programs have received positive responses from customers with large loan reimbursements.

With these practical actions, BIDV is committed to continuing to accompany businesses and individuals, contribute to enhancing capital flow, and timely resolve difficulties for the real estate market in general and social housing and commercial housing segments in particular.