VIB launches loan package to refinace existing loans for townhouses and apartments

VIB is pioneering mortgage products for townhouses and apartments, with outstanding benefits before, during, and after the loan.

Two-year fixed interest of 7.5 per cent

When transferring loans to VIB, customers can enjoy preferential interest rates, with a fixed rate of 5.5 per cent per year for six months, 6.5 per cent per year for 12 months, and 7.5 per cent per year for 24 months. The post-discount interest margin is only 2.9 per cent.

In addition, customers are exempt from principal payments for up to 24 months once they transfer loans to VIB. This preferential loan package allows customers to pay debts with other banks with long-term peace of mind. This product helps ease financial pressure so that customers can balance cash flow and increase their future income.

Loans are available for the purchase of townhouses and apartments, along with home renovations.

Support for pre-disbursement to quickly refinance existing loans

Normally, customers have to settle their existing loans at banks, withdraw mortgage documents, or add mortgage assets before disbursement. At VIB, all customers receive support for pre-disbursement to refinance loans at other banks. When choosing to transfer loans to VIB, customers become financially proactive without the concern of borrowing money to refinance loans, minimising risks and arising costs.

In addition, customers taking a loan from VIB to repay another bank's debt can enjoy a loan term of up to 30 years and a loan rate of up to 80 per cent of the property value of urban houses, villas, apartments, and townhouses. This is available for individual customers with urban house loans who already have an ownership certificate. Customers are exempt from collateral valuation fees when transferring loans to VIB from now until September 30, 2024.

Leading retail bank for home, car, and consumer loans

Thanks to its efforts, VIB has solidified its position as the top choice for customers with demand for home loans in Vietnam.

In anticipation of demand recovery in Q3/2024, VIB has launched an urban house loan package worth VND30 trillion ($1.18 billion) with an interest rate as low as 5.9 per cent per year and principal payment exemption for up to 48 months, marking the largest-scale package to date. This package allows individual customers to access capital with long-term peace of mind. Besides attractive fixed interest rate packages, the loan process is also simple, fast, and effective.

At the end of March, VIB made a big splash in the market with an apartment loan package with an interest rate of 5.9 per cent per year and a five-year principal payment exemption. Outstanding loan balances for apartments have increased seven times compared to the beginning of the year, contributing to VIB's credit growth, which in the first six months of the year reached five per cent.

With these two loan packages, customers receive an additional discount of 0.4 per cent interest rate and pre-disbursement support to refinance loans at other banks. When it comes to apartment loans, VIB is committed to approving a loan application within eight hours from the date of collecting completed documents and property valuation. This underscores VIB’s efforts to optimise the appraisal and approval processes, along with a large database. The bank will also adjust its payment policies flexibly, tailored to the financial situation of each customer.

In the context of interest rates being at their lowest level in the past 20 years, there are many opportunities for valuations of collateral assets to increase in light of the recovery of the real estate market. This is the ideal time to own a townhouse, apartment, or transfer a loan at optimal costs. For more information, customers can contact VIB via the hotline at 1800 8180 or visit the VIB website.

VIB helps families celebrate this Mother's Day To celebrate Mother's Day on May 12, VIB is waiving the first-year annual fee when opening a Family Link credit card. With its Family Link credit card series brimming with exclusive offers for family spending, VIB is proud to help parents fulfil their desires to create a cosy home.

VIB honoured at digital transformation conference Vietnam International Bank (VIB) participated in an event on digital transformation in the banking sector hosted by the State Bank of Vietnam (SBV) at the National Convention Centre on May 8.

VIB first bank in Vietnam to deploy AWS Skill Builder to enhance cloud computing capabilities Vietnam International Bank (VIB) has announced it has integrated Amazon Web Services (AWS) Skill Builder, an online learning centre designed to provide role-based training and learning plans for workers to build in-demand cloud skills, into its cloud computing training programme.