Lãi suất thả nổi là gì? Lãi suất thả nổi các Ngân Hàng Việt Nam năm 2022

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Written By Nguyễn Thị Nguyệt Hường

Nguyễn Thị Nguyệt Hường Chủ tịch HĐQT Tập đoàn Đầu tư Phát triển Việt Nam -VIDGROUP

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Currently, the two most common types of interest rates that we know are fixed interest rate and floating interest rate. Fixed interest rate is the interest rate that does not change during the loan process of the customer. Fixed rate is quite familiar to many borrowers but floating rate is the opposite. So what is a floating interest rate? How is the floating interest rate calculated? Let’s find out in detail through the article below.

Part firstWhat is a floating interest rate?

Floating interest rate is simply defined as the lending rate that will be changed over time and adjusted continuously. This adjustment level and term will be clearly agreed between the borrower and the lending bank based on the provisions of law, all adjustments must be clearly stated in the loan contract. Floating interest rate adjustment term is very flexible depending on each bank such as a quarter, 6 months or a new adjustment once a year.

What is a floating interest rate?

What is a floating interest rate?

The floating interest rate is changed based on the inflation index and the reference interest rate with commonly adjusted terms of every 3 months, every 6 months or every 12 months. To better understand the floating interest rate, we can follow the example below

Borrowers register for a mortgage loan of VND 20 million with an interest rate of 0.7%/month within the first 6 months, after that 6 months the interest rate will be floating and the borrower will pay an interest rate of 0.7%/month in the first 6 months. month. Thus, in the first 6 months of each month, customers will have to pay interest as follows: 20 million/24 months + 20 million * 0.7%. Therefore, for the first 6 months, the interest rate payable will not be too high, but after that 6 month term, the interest rate will change depending on the regulations of each bank, the higher the loan term, the higher the interest rate.

Currently, the floating interest rate is applied by many organizations such as VPBank or Prudential financial company to attract customers. In addition, with abundant capital, experienced staff, simple conditions, quick procedures and low interest rates, these are two companies that many customers trust in their products.

Part 2Advantages and disadvantages of floating interest rates

Here are the most objective assessments about floating interest rates that you can refer to

Advantages of floating interest rates

When applying for a loan at major banks or organizations that apply the interest rate calculated according to the decreasing outstanding balance, the borrower will have to pay the same interest every month. However, usually this method of paying interest will cause customers to bear very high interest rates. For that reason, floating interest rates are gaining attention and are applied by many lenders to reduce interest rates to attract borrowers. Because the floating interest rate is changed based on the inflation index and the reference interest rate, when the interest rate market drops, your chances of enjoying a low interest rate are very high.

Limitations of floating interest rates

We can see that the application of a floating interest rate will reduce the borrower’s payment amount significantly in the case of a lower market interest rate, the interest rate will be low. However, when the interest rate of the market increases, the borrower will be forced to pay the bank a higher interest than the original rate. Therefore, before choosing a loan with a floating interest rate, borrowers should carefully consider and monitor the financial market situation regularly.

Many customers will find it difficult to control their loans when the financial market fluctuates, affecting the bank’s interest rates.

Part 3Things to keep in mind when choosing a loan with a floating interest rate

In general, the floating interest rate will be lower than the fixed interest rate, if you are a person who understands the financial market and predicts the up and down trend, then surely choosing a floating interest rate will bring many benefits.

When choosing a floating interest rate, there are months when you only have to pay a very low interest rate, but there are months that the amount can be higher than the fixed interest rate when the market interest rate increases.

For short-term loans such as loans without collateral, choosing a floating interest rate will expose the borrower to more risk because the repayment plan will change much from the original. Borrowers with unstable income, the application of floating interest rates will be more difficult to repay.

Part 4Distinguish between floating and fixed interest rates

To better understand the floating interest rate, let’s better distinguish this type of interest rate from the fixed interest rate by comparing the table below.

Comparative factors Fixed interest rate Floating rate
Nature, concept The specific interest rate is specified from the beginning and remains unchanged throughout the loan process. Change up and down by term, no fixed interest rate.
Terms specified in the contract It is clearly stated in the fixed interest rate contract. Clearly stated in the contract on floating interest adjustment
Market influence on interest rates No effect Influential
Regulatory basis Based on the market interest rate calculated from the time of signing the contract. Based on the reference interest rate or inflation indicators, the bank will offer an adjusted interest rate suitable for each term.
Calculate a specific loan amount or not? Have Not due to adjusted interest rate
Loan term In a short time Loan term is from 6 months to 1 year.
Financial market volatility When market interest rates fall Loss of still paying higher interest than the current rate Benefit from paying lower interest
When market interest rates rise Beneficial because the interest rate remains the same Losses due to having to pay higher interest

Through the comparison table above, we can see that floating interest rates and fixed interest rates have different characteristics. Based on the needs, borrowers can choose the appropriate interest payment method to receive the most incentives for their loan.

Part 5How to calculate floating interest rate?

Although it is relatively difficult to calculate the exact interest rate because it is adjusted continuously. However, the borrower can estimate the interest payable based on the following formula based on the margin:

Floating Rate = Base Rate + Margin

In there:

  • The basic interest rate is determined by the bank from time to time, but usually the basis for determining the floating interest rate is the savings interest rate of a certain term at the time of application.
  • The margin is a fixed rate applied by the bank but not exceeding 4.5%/year.

For example: Post-preferential interest rate = 13-month savings interest rate + 4% margin

As such, the floating interest rate will be adjusted according to the basic interest rate/savings interest rate set by the bank from time to time and the margin is fixed.

Part 6The bank’s floating interest rate in 2022

Numerical order Bank name Floating interest rate/post-preferential interest rate
first Joint Stock Commercial Bank Vietcombank Floating interest rate for 24 months term + 3.5% margin
2 Joint Stock Commercial Bank Vietinbank Floating interest rate for 36 months term + 3.5% margin
3 TPBank 12-month floating rate + 3.5% margin
4 Shinhan Bank Floating interest rate for 12 months term + 3% margin
5 Sacombank Commercial Joint Stock Bank Floating rate for 13-month term + 4.5% margin
6 VIB International Commercial Joint Stock Bank Floating interest rate for 12 months term + 3.99% margin
7 Asia Commercial Joint Stock Bank ACB Floating interest rate for 12 months term + 3.9% margin
8 Saigon Commercial Joint Stock Bank SCB Floating rate for 13-month term + 4% margin
9 Military Bank MB Bank Floating interest rate for 24 months term + 4.5% margin

Floating interest rates of Vietnamese banks

Part 7How is the floating interest rate in buying a house with 0% installment payment?

Owning a home is always something everyone wants, right? But not everyone can afford and have enough money to buy a house, so they often choose to buy a house with 0% installment payment.

However, the joy didn’t last long before it had to cry because the floating interest rate was up to 12%/year after the 0% installment loan package expired. So how is the domestic interest rate applied in the form of buying a house with 0% installment payment?

In fact, home purchase programs with 0% interest installment payments are being linked with banks by many real estate project investors in recent years. Usually, when buying a house with 0% interest installment payment, the homebuyer will initially only have to pay the monthly principal amount and not interest, usually, the time to apply the 0% interest rate will be the time from the time the deposit is made to the customer. The time to receive the house can be from 12-24 months depending on the policy of each investor and the associated lending bank. After that time, the borrower will have to pay the same interest rate as a regular loan

And the amount of interest during the application period to buy a house with 0% installment payment will be paid by investors on behalf of customers.

The pitfall of buying a house with 0% installment payment

The pitfall of buying a house with 0% installment payment – Floating interest rate

It can be seen that initially buying a house with installment payments with 0% interest is a great advantage for homebuyers.

For example For an apartment with a price of about 2 billion VND, if customers borrow up to 70% of the apartment value (about 1.4 billion VND) and get a loan of 0% interest for about 15 months, they will save about more than 210 million dong of bank interest (if normal loan interest is about 10%/year)

However, besides such immediate benefits, borrowing money to buy a house with 0% installment payment also brings a lot of risks.

First, advertising bonus projects with 0% interest loans can be up to 18-24 months, but there are many projects that are only implemented in half the estimated construction time, leading customers to only enjoy incentives. 0% interest for a very short period of time

Second, After the 0% interest installment payment term expires, customers will have to bear a floating interest rate according to the bank’s regulations. The floating interest rate will change according to market fluctuations as well as banking policy, leading to the fact that the floating interest rate and the floating interest rate are not the same.

As we all know, the floating interest rate is calculated by the formula: Base interest rate + floating margin

If you do not know about the base rate and the floating margin, here is how banks use to calculate the base rate and the margin is

  • Basic interest rate: Usually based on 12-month term deposits or average interest rates of four large state-owned banks
  • Floating margin : Usually very high and ranges from 3.5-4.5%,

So if the basic interest rate is 10%/year, then the floating interest rate you have to bear can be up to 15%/year, this is the interest rate that makes many homebuyers distort their faces and suffer losses to save money. pay

So there are many cases of buying a house with 0% installment payment and soon posted it for sale

see more : VPBank house loan

Part 8How to choose a loan package so that borrowers get the most incentives?

In order to attract customers, many banks now offer many preferential interest rate programs for mortgage loans with many preferential time options with the corresponding interest rates and there is almost no difference between the total the amount of debt to be paid when choosing this or that incentive package.

Based on personal financial situation as well as current incentive program, customers should choose a suitable floating or fixed interest rate. If you choose a program with a low preferential interest rate, the first month’s repayment amount is low, the preferential period is usually shorter and after the preferential period you will have to pay the debt at a floating interest rate. On the contrary, if you choose a more preferential period, the interest rate will be slightly higher and the first repayment periods will be extended with a moderate amount to be paid.

Above is detailed information about floating interest rate. We can see that the volatility of the financial market will greatly affect the floating interest rate and these fluctuations are something that we cannot proactively and control. Therefore, before choosing the method of interest payment. Borrowers need to study the market situation as well as develop appropriate spending plans.

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