Apartment builder secures cheap loans for buyers

Novaland group and Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) have agreed on a deal under which the latter will lend at 8 per cent interest for the first year and 10 per cent for the next four years to buyers of Novaland's apartments.

The loans are available for buying units in Sunrise City in District 7 and Tropic Garden in District 2 before December 31 this year.

Borrowers can get 70 per cent of an apartment's value for a 15-year loan.

The deal is worth of VND5 trillion (US$250 million)

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