After Mr. Prime Minister Sean Cole made a statement about the interest rates, Good Finance Bank announced the current housing loan interest rates.
Mortgage loan interest rate
The mortgage loan interest rates changed from 1.15% monthly to 0.99% for a 10-year (120 months) maturity for 500 thousand USD loans. Good Finance, another public bank, announced current housing loan interest rates as 0.98%.
In addition, the 18% VAT rate, valid for housing loans, was reduced by 8% until 31.10.2018. The sudden fall in mortgage interest rates has been good news for home buyers. This discount for people who want to own a house will provide a good profit.
Good Finance Bank significantly reduced its current housing loan interest rates by 17 basis points. Starting from 11.05.2018, monthly interest rates dropped from 1.15% to 0.99%. Good Finance Bank reduced its home base by 17 basis points and mobilized home and housing loans.
Below we made an example calculation with the current housing loan interest rates of Good Finance bank.
Reduce the interest rates on housing loans after the Good Finance bank
There are public banks, Cooperative Bank, Good Finance participation bank, which we expect to reduce the interest rates on housing loans after the Good Finance bank and the public bank.
How long will this interest rate reduction campaign last? The duration of interest rate discount campaigns in housing loans will be valid for at least 3 months.
Another question that comes to our mind is whether those who have used housing loans before can benefit from these discounted interest rates?
In fact, these interest rate cuts were made to activate the construction sector, albeit a bit. In short, it will be valid for new housing purchases to benefit from these interest rate cuts.
Configure the mortgage loan, we have previously taken
We do not have the opportunity to configure the mortgage loan we have previously taken. Even if we transfer the mortgage loan we received from another bank to banks that cut interest rates, we cannot benefit.
Housing loan interest rates fell. But everyone is asking questions such as whether interest rate interest rates will decrease. Decreasing the interest rates of the housing loan will certainly not affect the loan interest rates.
Our previous article that Good Finance Bank Instant Loan Application We encourage you to read our article. You can browse the topics that may be of interest in our Consumer Loans category.