In the market, there are many banks applying new interest rates for loans - buying real estate about 12% per year for medium-term borrowers. In case of long-term loans, the interest rate of disbursement can be up to 12.5% ​​per annum. Specifically, from May 2, Eximbank has decided to adjust the new lending interest rates for loans to buy houses and land increased by 1% per year, up to 11% per year. This new interest rate applies to all loans including building, repairing, buying apartments.

For borrowers who lend money to buy house at BIDV, the bank has two options. If they want fixed interest rate for 12 months, the interest rate will be 7.8% per year; fixed interest rate for 24 months, the interest rate will be 8.8% per year. After this time, the lending interest rate will be equal to the interest rate of 24 months plus the margin of 3.5% / year (according to the current rate of about 10.7% / year). Similarly, Viet A Bank is applying interest rate for loans to buy houses and land at about 12.38% per year. The bank mentioned that in the future, it will be able to push lending interest rate up to 13% per annum.

Some other banks which are located in Ho Chi Minh City also increased interest rates to 12% -12.5%. Banks reduced their lending rates from 60% -70% of real estate value to 30% -40%. State Bank of Vietnam also introduced many policies to tighten the real estate lending rate, adjusting the risk ratio from 200% to 250%. Some other banks have made policies like only 50% demand of loans, the rest have to borrow under the normal program with interest rates of 10.7 - 11% per year. Besides, due to the recent increase in house prices, banks also revalue their loans and only make loans up to 70% of their value.

According to experts in the industry, the tightening of loans, increasing interest rates for real estate loans in some banks are positive signals because in this period, the land, houses far outweigh the real value and there should be a corrective solution. This action of increasing interest rates will limit the risk of cash flow into real estate, focus on developing the market in the direction of sustainability, towards real demand, not speculation, surfing.

Ha Vy