HSBC reduces lending

April 12, 2012 | 10:50

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HSBC has significantly reduced borrowing costs for secured lending.

Those include residential mortgages, equity loans and car loans for its retail customers and general banking public in Vietnam.

From this month, HSBC took another bold step in reducing its interest rate on secured lending products for the benefit of all Vietnamese customers by a further 1 per cent for all secured lending products.

This latest interest rate cut from HSBC follows hot on the heels of the previous reductions of 1per cent each in mid February and March.

With this latest cut, HSBC have reduced its lending rates to customers by a full 3 per cent in less than three months allowing more affordability and easing the stress and costs of borrowing for its customers.

In addition to the interest rate reduction, the bank now offers more flexible financial plans for its customers allowing customers to choose different interest rate review periods ranging from one month, three months to six months.

On top of low lending rates, HSBC is offering a special promotional rate of 0 per cent for the first month to all new loans applied during the special grand sales period from April 3 to June 29.

Altogether, the best interest rate HSBC customers can now enjoy now when applying for mortgages is only 17 per cent, per annum. This rate applies to both new and existing customers.