An ACB transaction office. ACB has recently launched the First Home loan package for young customers, offering a loan term of up to 30 years. — Photo courtesy of ACB

HÀ NỘI — Asia Commercial Bank (ACB) has introduced the First Home loan package, specifically designed for younger buyers looking to get on the property ladder.

The programme offers loan terms of up to 30 years, with an attractive interest rate starting from 5.5 per cent per year and a fixed rate for the first five years. This initiative aims to help young customers with stable incomes access capital more easily to purchase their first home.

At a conference on February 11 chaired by Prime Minister Phạm Minh Chính, the Government urged the State Bank of Việt Nam (SBV) and commercial banks to introduce preferential credit packages for individuals under 35.

According to the HCM City Real Estate Association (HoREA), young professionals generally experience rising incomes over time, making home loans a feasible and low-risk option for banks. The association proposed that the SBV establish a mechanism allowing buyers aged 18-45 to finance their first home at reasonable interest rates of 6-7 per cent per year over 10-15 years, with the property itself serving as collateral.

An ACB representative highlighted that homeownership remains a top priority for young Vietnamese, particularly those with stable jobs and incomes. Beyond financial security, owning a home is often seen as a symbol of success and long-term stability.

Currently, banks offer home loans covering 70-80 per cent of a property's value. Given the large loan amounts and extended repayment periods, borrowers are advised to assess their financial capacity and repayment plans carefully to ensure they can meet both principal and interest obligations on schedule.

ACB’s First Home loan package is designed for greater flexibility and security. In addition to competitive interest rates starting at 5.5 per cent per year, the package includes structured principal repayments and a fixed low-interest rate for the first five years, which is up to three per cent lower than the standard published rate.

Borrowers can benefit from loan terms of up to 30 years, a grace period of up to 12 months before principal repayment begins, free asset valuation, and preferential early repayment fees for monthly instalment payments. The structured principal repayments require only two per cent of the loan principal per year, making it easier for younger buyers to manage their finances. — VNS