LOAN FOR PURCHASE, CONSTRUCTION, RENOVATION AND TRANSFER OF RESIDENTIAL HOUSE, LAND

Loans for buying, constructing, repairing houses and transfer of residential land

LOAN AMOUNT

Up to 100% of property value intended to purchase and/or construction/repair costs

FLEXIBLE DEBT REPAYMENT METHOD

DIVERSIFIED COLLATERAL

Flexible collateral

LOAN TERM

Up to 20 years

Product information

Product description: is a loan for customers to buy, build and repair house and transfer of land (Certificate of land use) to live and serve daily needs of family’s stay or a partial rental.

Target customers: Vietnamese individuals.

Conditions:

Stable incomes to repay principal and interest.
Secured collaterals.

DOCUMENTS AND PROCEDURES

Characteristics:

Tenor:

For real estate purchase: up to 20 years.
For real estate construction and repair: up to 10 years.
For real estate purchase, construction and repair: up to20 years.

Loan currency: VND.

Lending amount:

To buy property which is also collateral: by provisions of Kienlongbank.
For construction, repair of real estate which is also collateral: Up to 90% of construction, repair costs.
For purchase, construction, repair of real estate which is also collateral: Maximum 70% of real estate value plus (+) 50% of construction, repair cost.
In case collateral is other real estate and/or other assets: Maximum 100% of the real estate value to be purchased and/or cost of construction and repair.

Interest rate: By Kienlongbank's regulations from time to time.

Loan method: By disbursements

Debt collection method: flexible

Fee: See fee schedule.

Utilities:

To save cost by loan disbursement by construction progress.
Long term loan for customer’s balance of their financial resources.

Records and procedures

ID card/Passport, Family record book/Temporary residence book of the borrower, the co-responsible person and the guarantor (if any).
Documents for loan use purpose.
Proof of income records.
Security collateral records.