Interest-free loans for buyers of Indochina Plaza

Interest-free loans for buyers of Indochina Plaza

Bank for Foreign Trade of Vietnam (Vietcombank) will provide buyers of the Indochina Plaza Hanoi condo project with interest-free loans in the first five years under a deal recently signed with the project owner Indochina Land.

In particular, homebuyers can take out loans worth around 60% of the condo values with a term of 20 years, said Indochina Land. Buyers will not pay interest sums and can enjoy deferred principal payments within a year since the first disbursements according to the credit contract.

Michael Piro, deputy director of Indochina Land, expected the preferential lending program would greatly affect buyers, especially end-users.

The preferential policy will reduce the financial pressure for homebuyers as they are only required to have 40% of the home values available to own Indochina Plaza Hanoi condos, said Piro.

Indochina Plaza Hanoi is located on Xuan Thuy Street in Cau Giay District, Hanoi. The project consists of two residential towers with 386 luxury apartments, an office block with 18,000 square meters of Grade A office space and a four-story commercial center covering 14,000 square meters.

The project got off the ground in 2009. The first condos were handed over to customers in April this year.

The Saigon Times