Loans for project homes: how much you pay each month when the promotional rate ends and floats

Legal basis: home loan interest rate surveys by DXS-FERI (to September 2026), DKRA Consulting (11 banks, August 2026), VARS-IRE (Q2 2026) as published in the press; the equal-instalment (declining balance) formula · Updated 20 October 2026.

For a 2 billion dong loan over 20 years, every 2 percentage points of interest raises the monthly payment by about 2.6–2.9 million dong: 16.7 million dong at 8% a year, 19.3 million dong at 10%, 22 million dong at 12%. Most loans for project homes only fix the rate for the first 6–24 months, then it floats. This article helps you work out your payments when the promotion ends.

What floating rates are now

• Promotional: fixed rates for 12–24 months typically around 10.9% a year at 11 banks (DKRA, August 2026); 9.8–11.5% a year for the first 12 months (DXS-FERI, to September 2026).
• After the promotion: floating at 13–16% a year (DXS-FERI); possibly 14–16% a year depending on loan terms (DKRA).
• How the floating rate is set: the bank's base or reference rate plus a margin, typically about 3.3–3.5% (VARS-IRE, Q2 2026). The margin is written in the loan agreement — it is the first figure you should ask about.

Interest rates vary by bank, application and timing. Ask the bank directly before deciding.

Table 1: borrowing 2 billion dong, 20 years, equal instalments

Reference example. Assumptions: equal instalments (the same principal + interest each month) over 240 months, with the rate unchanged for the whole loan; "income needed" assumes repayments take up at most 50% of household income.

Annual rate	Monthly payment	Interest in month 1	Total interest over 20 years	Income needed
8%	16.7 million dong	13.3 million dong	2.01 billion dong	33.5 million dong/month
10%	19.3 million dong	16.7 million dong	2.63 billion dong	38.6 million dong/month
12%	22 million dong	20 million dong	3.29 billion dong	44 million dong/month
14%	24.9 million dong	23.3 million dong	3.97 billion dong	49.7 million dong/month

Many banks use equal principal, declining interest: you pay more in the first month. For the same 2 billion dong over 20 years: about 21.7 million dong in the first month at 8%, 28.3 million dong at 12%, falling after that.

Table 2: after 2 promotional years at 8%, the rate floats

Reference example. For the first two years the rate is 8%, with equal instalments of 16.7 million dong/month; when the promotion ends about 1.91 billion dong is still owed, spread evenly over the remaining 18 years.

Rate after the promotion	Monthly payment from year 3	Increase over the first 2 years
10%	19.1 million dong	+ 2.4 million dong
12%	21.6 million dong	+ 4.9 million dong
14%	24.3 million dong	+ 7.6 million dong

Table 3: developer interest support with a 2-year principal grace period

Many sales policies offer interest-rate support together with a principal grace period until handover. During this time you pay very little or nothing. When the support ends, you pay both principal and interest on the full 2 billion dong over the remaining 18 years:

Rate after the support	Monthly payment
10%	20 million dong
12%	22.6 million dong
14%	25.4 million dong

Payments after a grace period are higher than without one, because none of the principal has been paid down yet.

Check your own ability to repay

1. Work out the payment at a high floating rate (14–16% a year), not just at the promotional rate.
2. Compare it with your household's stable income, minus living costs and other loans.
3. Set aside a reserve covering several months of repayments.
4. Read the early repayment terms: the penalty percentage and how many of the first years it applies to.

A case reported in the press in October 2026 in HCMC: a household borrowed nearly 2.4 billion dong to buy an apartment; when the two promotional years ended the rate rose to 12.3%, and the payment went from about 24–25 million to 35 million dong/month while household income was about 60 million dong/month, so the family had to sell. See also selling a home because of loan interest after the promotion (in Vietnamese).

To calculate with your own amount, rate and term: use the "Price & loan calculator" in the price section of a project page (e.g. Izumi City), then put the result into your cash-flow plan.

This article is for reference only and does not replace legal or financial advice for your specific case.

1. What is the promotional rate, and for how many months is it fixed?
2. After the promotion, which base rate is used and what margin is added? How often is the rate adjusted?
3. Equal instalments, or equal principal with declining interest? What is the first monthly payment after the promotion?
4. Is there a principal grace period, and until which month? How much will you pay when it ends?
5. Until when does the developer support the interest, and what is the cap? What if handover is late?
6. What percentage is the early repayment fee, and for how many of the first years does it apply?
7. The maximum loan-to-value ratio, maximum term, income requirements and collateral.

Sources in Vietnamese; titles kept in the original, with a short English translation in brackets.

• VnExpress — Nhiều người bán nhà để thoát gánh nặng lãi vay (Many people sell homes to escape the burden of loan interest — DXS-FERI, DKRA), 17 October 2026.
• Nha Dau Tu — Lãi suất vay mua nhà bình quân đã vượt 10%/năm (Average home loan rates have passed 10% a year — DKRA August 2026, VARS-IRE Q2 2026), 28 August 2026.
• VietnamFinance — Lãi suất thả nổi và hệ lụy với khách vay mua nhà (Floating rates and their consequences for home borrowers), 27 August 2026.