BIDV supports buyers of Tan Hoang Minh’s condos

Bank for Investment and Development of Vietnam (BIDV) and Tan Hoang Minh Group last week signed a cooperation agreement on providing credit support to customers of the luxury condo project D’.Palais de Louis.

BIDV and Tan Hoang Minh will offer a lending rate of 7 percent per year in the first six months to buyers of apartments covering more than 190 square meters each. Meanwhile, customers with demand for loans to buy apartments of below 190 square meters will be given an interest rate of 9 percent per annum in the first six months.

These lending rates are applied to the first payments.

The lending terms can be extended to up to 15 years. Borrowers only have to repay principals 18 months after the loans are first disbursed, or when buyers receive their condos.

Moreover, BIDV will open payment accounts for customers and offer them free credit cards, ATM cards and BSMS (text message banking service) in the first six months.

The preferential programme is applicable to customers registering to buy the D’.Palais de Louis apartments from now to December 31.

The credit support deal between BIDV and Tan Hoang Minh is part of the bank’s VND4 trillion lending package for corporate and individual clients, especially tSTC in need of loans to develop property projects and purchase houses.

The D’.Palais de Louis project of Tan Hoang Minh Group consists of 27 floors, four basements and two halls covering nearly 5,000 square meters. The project got off the ground in December 2009 and is expected for completion in 2014.

Saigon Times Daily

>   PM approves $147 mln urban development project (19/06/2012)

>   Cash flow heading for the real estate market (19/06/2012)

>   Recreational potential not being realised (18/06/2012)

>   Buyers return to capital city's housing market (18/06/2012)

>   Property firms still face difficulties (16/06/2012)

>   Berriver Long Bien project introduced to public (15/06/2012)

>   Hue developer to invest $76m in massive residential complex (15/06/2012)

>   Multi-million-dollar villa gets owner (15/06/2012)

>   Residential complex turns on the charm (12/06/2012)

>   Rate cut may trigger property boom (12/06/2012)