VPBank and Pho Xanh Group have signed a strategic partnership agreement to meet capital needs for individuals who want to access bank loans to buy real estate from Pho Xanh Group.

VPBank will provide financial support packages for Pho Xanh Group’s customers to buy property with good interest rates as well as flexible payment plans. In addition, the two sides would support each other in promoting products and services with special offers for their customers.

Understanding the bottleneck in assisting customers to access loans is proving their solvency, VPBank has designed flexible loan products, accepting different sources of income for customers to prove the payment ability such as salary, income from individual business activities, and some other revenue sources to ensure the legitimacy according to the provisions of law.

Speaking at the signing ceremony, a representative from VPBank said: “As the pandemic is still complicated and customers have certain financial concerns, VPBank offers many loan support packages with flexible interest rates that will bring convenience to customers wishing to optimise investment plans in real estate products distributed by Pho Xanh Group, through diversified and appropriate credit packages. We also hope that through this co-operation, the two sides will best exploit the market potential and business advantages between VPBank and Pho Xanh Group, on the basis of legal compliance and the capabilities of each party.”

Nguyen Khanh Huyen, chairwoman of Pho Xanh Group added: “We consider VPBank as one of the top private joint stock commercial banks, with very solid resources and a dynamic and flexible operating system, helping design the most suitable financial product packages for Pho Xanh Group’s customers, thereby bringing maximum benefits to our customers. We hope this co-operation will help raise our value and thereby help the capital market for real estate investment to be healthy and develop to new heights.”

Pho Xanh Group is one of the largest real estate brokers in the North with more than 2,000 employees, specialising in distributing real estate in all Ha Noi’s inner districts with a value from VND2 billion to VND1 trillion, including houses and hotels. The average liquidity for the market is about VND500 billion.

VPBank is implementing a preferential programme with interest rates from only 5.9 per cent and many other privileges for customers who borrow to buy real estate with very competitive interest rates in the market.

Customers will be able to borrow up to 80 per cent of the total home’s value with disbursement limit of up to VND20 billion and the loan term of 25 years. Customers also enjoy a 12-month grace period, meaning that in the first year, customers will not have to pay the principal to the bank, but only need to pay the interest. — VNS