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Home Mortgage Loan
Own your new and cozy home today!
A warm and cozy home is really important to any newly wed couples. Own yours today with HSBC's Mortgage Loan!
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Benefits
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Application criteria & Tools
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You're young, ambitious and just embarking on your exciting new career. You might need a new laptop, to upgrade your qualifications, or travel with friends.
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The wedding of a lifetime and a cozy new home to start a family of your own is a dream for every couple.
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Preparing to welcome a new addition to the family is always exciting. With the arrival of a new baby, there's always a lot to prepare.
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Are your kids aiming for overseas education? Does your family have big business aspirations for the future?
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Personal Loan
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Personal Loan
Mortgage Loan
Secured Overdraft
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Personal Loan
Home Equity - Renovation
Car Loan
Secured Overdraft
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Home Equity - Overseas
Education Home Equity - Renovation
Home Equity - Other purposes
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Application Criteria:
- Vietnamese individuals or Vietkieu
- Age from 18 to 65
- Monthly personal income of at least VND10,000,000
- House value at least VND800,000,000
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.
