Shinhan Bank Vietnam supports customers in transition to electric vehicles

Shinhan Bank Vietnam Ltd. has launched a preferential loan interest rate program for individual customers, business households, and enterprises seeking financing to purchase electric vehicles (EVs).

This initiative is part of the bank’s concrete efforts to support the prime ministerial Directive No. 20/CT-TTg on urgent environmental protection measures, promoting the adoption of climate-friendly transportation and contributing to Vietnam’s net-zero emissions commitment by 2050.

Under the program, customers applying for EV auto loans at Shinhan Bank Vietnam from now until December 31, 2025 will enjoy a preferential interest rate starting from only 6.9%/year (terms and conditions apply), fixed for the first three years, with financing available for up to 80% of the vehicle’s value.

The offer applies to all electric car models officially distributed in Vietnam. The loan package features a simplified approval process, quick turnaround time, and flexible loan terms and disbursement schedules, making it easier for customers to own green vehicles that offer long-term savings on fuel and maintenance costs.

With a strong commitment to supporting Vietnam’s sustainable development, Shinhan Bank plans to roll out additional incentive programs and expand partnerships with EV manufacturers and authorized dealerships. The aim is to provide customers with more flexible financing options tailored to the modern green consumption trend.

A representative of the bank said: “We believe the banking sector plays an important role in accelerating the green transition through tailored financial solutions. With this preferential program, we aim to accompany customers on their journey toward sustainable mobility, helping reduce environmental pollution while lowering costs. This marks a concrete step in our broader roadmap to promote green finance and contribute to a sustainable future in Vietnam.”

In addition to the EV loan offer, Shinhan Bank continues to provide competitive loan packages for conventional vehicles, with three fixed interest rate options: 7.1%/year fixed for 12 months, 7.5%/year fixed for 24 months, or 7.9%/year fixed for 36 months, offering customers flexibility in planning their repayments and managing financial pressure.

Notably, customers purchasing hybrid vehicles will receive an additional 0.1%/year (terms and conditions apply) interest rate discount, and those buying models distributed by Thaco Auto may benefit from up to 0.3%/year (terms and conditions apply) off the current applicable rate.