Preferential loans for young homebuyers

(ĐN)- Following the directive of Prime Minister Pham Minh Chinh on introducing preferential credit packages for individuals under 35, many banks have rolled out home loan programs with attractive interest rates. These initiatives aim to support young people in achieving their dream of homeownership amid rising property prices.

Since early April 2025, Agribank has officially launched its Young Homebuyers Loan Program, offering multiple benefits. Notably, borrowers can use the very home they intend to purchase as collateral, helping address the common challenge of lacking initial mortgage assets. The program features a fixed interest rate of 5.5% per annum for the first three years, with a maximum loan term of 40 years. Borrowers may receive up to 75% of their housing value (up to 100% with additional collateral) and benefit from flexible principal repayments and up to five years of grace period on principal payments.

Similarly, BIDV introduced its “With BIDV, Young People Own Homes” loan package, offering a fixed interest rate of 5.5% for the first three years and repayment terms of up to 40 years. Eligible borrowers must be under 35 years old and purchasing their first home, with no existing BIDV home loans. Grace periods on principal repayment of up to 60 months are also available.

ACB has extended its “First Home” program to include individuals aged 18 to 40. With a stable income of VND 15 million/month or more, borrowers can choose among packages with fixed interest rates ranging from 5.5% to 8.5% per annum depending on the term. As of late March 2025, ACB's Dong Nai branch recorded 120 interested customers, with six applications in progress.

In addition to interest rate incentives, banks are offering various service fee waivers, including free account management, card issuance, and bill payment services during the first year, further easing the financial burden for young borrowers.

Bank representatives noted that eligible applicants must meet basic conditions such as being within the age range, having stable income, good repayment capacity, no bad debt history, and using the loan for appropriate purposes.

Bui Truong Giang, a 33-year-old office worker in Bien Hoa City, shared: “With a monthly income of around VND 20 million, saving enough to buy a home in Bien Hoa is extremely challenging. These preferential loan programs give people like me hope and motivation to work harder and build a stable future.”

These home loan packages not only address the housing needs of young people but also stimulate healthy growth in the real estate market. They enhance housing accessibility for low- and middle-income earners and align with the government’s broader social welfare goals.

Reported by H.Q