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| Benefits | ||||
| Credit Limit (VND) | 200 mil - 1 bil | 75 mil - 1 bil | 36 mil - 300 mil | 12 mil - 60 mil |
| Worldwide emergency encashment |  |
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1,000 VND = 1 Point * | 1,000 VND = 1 Point * | 1,000 VND = 1 Point | 1,000 VND = 1 Point |
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| Requirements | ||||
| Application Criteria | Exclusive for HSBC Premier Customers |
Monthly income VND 25mil+ |
Monthly income VND 12mil+ |
Monthly income VND 6mil+ |
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Annual Fee (VND) Primary card: Supp. card: |
Free Free |
1,200,000 600,000 |
600,000 400,000 |
300,000 200,000 |
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* Applicable from 12 March 2013.
Application Criteria:
- Vietnamese individuals or Vietkieu
- Age from 18 to 65
- Monthly personal income of at least VND 10 million
- Mortgaged property must be located in Ho Chi Minh City, Ha Noi, Binh Duong, Dong Nai & minimum value is VND 800 million, OR
- Mortgaged property must be located in Da Nang, Can Tho, Long Xuyen City, Cao Lanh City, Sa Dec Town, Vinh Long City, Hue City, Hoi An City, Tam Ky & minimum value is VND 500 million.
Documents required
- Home Mortgage Loan application form (original copy)
- Identification card (a certified copy or the original ID to be crosschecked at the Bank. The date of issuance of the ID card must not exceed 15 years with identifiable details and photo)
- Household registration book / Temporary residence book
- Marital Status Certificate
- Copy of purchasing house ownership certificate
- Proof of income
- Copy of other asset ownership certificates (if any)
Example of interest calculation
We calculate the interest for our Home Mortgate Loan on a reducing balance. Here is an example for a VND 60 million loan over a 12 month term:
As illustrated
| Other Banks | HSBC | |||||
| Fixed balance at 13.5% | Reducing balance at 22% | |||||
| Month | Principle | Interest | Principle | Principle | Interest | Principle |
| 1 | 5,000,000 | 684,375 | 5,684,375 | 4,478,996 | 1,136,667 | 5,615,663 |
| 2 | 5,000,000 | 684,375 | 5,684,375 | 4,563,848 | 1,051,815 | 5,615,663 |
| 3 | 5,000,000 | 684,375 | 5,684,375 | 4,681,448 | 934,215 | 5,615,663 |
| 4 | 5,000,000 | 684,375 | 5,684,375 | 4,767,275 | 848,388 | 5,615,663 |
| 5 | 5,000,000 | 684,375 | 5,684,375 | 4,829,309 | 786,354 | 5,615,663 |
| 6 | 5,000,000 | 684,375 | 5,684,375 | 4,920,797 | 694,866 | 5,615,663 |
| 7 | 5,000,000 | 684,375 | 5,684,375 | 4,994,611 | 621,052 | 5,615,663 |
| 8 | 5,000,000 | 684,375 | 5,684,375 | 5,141,350 | 474,313 | 5,615,663 |
| 9 | 5,000,000 | 684,375 | 5,684,375 | 5,219,253 | 396,410 | 5,615,663 |
| 10 | 5,000,000 | 684,375 | 5,684,375 | 5,294,891 | 320,772 | 5,615,663 |
| 11 | 5,000,000 | 684,375 | 5,684,375 | 5,412,012 | 203,651 | 5,615,663 |
| 12 | 5,000,000 | 684,375 | 5,684,375 | 5,696,210 | 100,949 | 5,615,663 |
| Total | 60,000,000 | 8,212,500 | 68,212,500 | 60,000,000 |
7,569,450 |
67,387,953 |
As illustrated
- Although the interest paid on the reducing balance loan appears higher, it is actually less than the interest paid on the fixed balance loan, due to the way the interest is calculated
- To be diligent, you should always ask the effective rate or the total interest payable of your loan.
