Funding house purchasing deals, good business for banks

Many people have become disappointed when hearing about the interest rate policies applied by the banks. They said that the interest rates proved to be too high. Only those who have high incomes and want to buy luxurious apartments and houses can afford such high interest rates. Dau Ngoc Tinh, a staff of a garment company, related he needed to prove that he had the income of VND20mil a month to get the loan of VND200mil ($1,250) with the interest rate of 1.1% per month. Every month, he will have to pay VND6mil ($375) in both principal and interest. However, his actual income is VND10mil per month, and he only can borrow money with the interest rate of 1.15%.