Phu My Hung offers zero interest mortgage at new development

Saigon South Residences to be developed in Nha Be District by Phu My Hung Development Corporation.

Phu My Hung Development Corporation has said that people taking out a mortgage to buy apartments at its new Saigon South Residences will not have to pay interest for up to 28 months.

The developer said it has tied up with VietinBank to offer this deal.

Vietnamese buyers can borrow 75 per cent of the apartment value for up to 20 years.

Initially, the 0 per cent loan will be worth 30 per cent of the condo’s price.

Saigon South Residences is Phu My Hung’s first project outside of its Phu My Hung City Centre in District 7.

The company said the aim of moving out was to offer its normal quality to more customers at more affordable prices.

The second phase of sales for the project will be this month.