Average home loan interest rates may increase slightly from the beginning of this year due to rising capital costs, analysts forecast.

VOV.VN - Last year saw the State Bank of Vietnam proactively monitor global and domestic economic developments and implement comprehensive measures to support businesses and individuals in accessing bank loans through the stable monetary policy.

The State Bank of Vietnam (SBV) has been drastically implementing measures, particularly those to reduce loan interest rates, said its deputy governor Dao Minh Tu at a regular government press conference on May 5, calling it one of the important and practical policies to help businesses.

Retail stocks have dropped significantly due to the decline in business results in the context of the global economic recession and high interest rates.

Affordable home buyers can access preferential loans at rates 1.5-2% lower than the market average as part of a credit package worth around VND120 trillion (US$5.02 billion).

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has directed banks to continually reduce input costs with an aim to cut loan interest rates.

Real estate businesses in Ho Chi Minh City are gingerly reopening, mostly consulting and carrying out transactions online due to the COVID-19 prevention and control regulations still in force.

Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.