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Vietnam Financial News

Vietnam Business » Vietnam Financial News » Quality of Credit must be given priority over assets will be

Quality of Credit must be given priority over assets will be

The banks were to encourage many different types of consumer loans to attract customers. In particular, Techcombank is offering car loans with a maximum credit of 90% of the cars. Eximbank has provided consumer loans to 14% per year award low-interest loans. Employees of financial institutions also constantly invite customers apply for loans to consumers through phone calls.

Many banks and financial institutions offer various incentives for developers to promote consumer loans. But everything is rosy. Ample supply Respond introduced on an invitation from a lady named L., a loan consulting firm Prudential Financial, the reporter was informed that if the signature of two life insurance with Prudential premium rate of 24 million dong per year (along with the required documents such as temporary work to the demonstration of stable income, budget and keep their residence in the city), the journalist received an unsecured loan of 80 million dong. The rate of workers are paid 1.3% per month, representing an annual growth rate of 15.6%. Compared with the current market interest rates, this is acceptable. But when the journalist asked for the payment of interest and principal, said the adviser, that if a loan is payable over four years, the borrower must pay 2.7 million dong per month for both monthly interest and repayment. For four years the loan, the total return should be around 130 million Dong are made for interest and principal repayment. This is an installment in the capital. L. Advisor also confirmed that if the balance of the debt then fly as borrowers up rate of 2.1% per month, which is 25%. Obviously, for this loan, consumers will find it hard to accept. Recently some customers have complained that they pay a higher interest rate than the initial borrowing rate offered by the bank. This is because the banks have changed the interest rate depending on market conditions. Let us consider the method of repayment of interest (ABBANK informed) An Binh Bank Director Personal Banking Dam The Thai that the borrower should carefully read the conditions for loans to pay attention to the conditions, in particular, note the time change interest rates. In addition, it is necessary to fully how the sentence will ultimately be informed under the terms of the contract. Thailand said that there are two ways of payment, one based on the original loan and the second based on the principal amount of the loan debt. The first method applies only to unsecured loans. For this type of return, customers will pay the fixed capital plus interest. For a loan of 200 million dong, the interest rates in% per month, payable in 40 months of the first method, borrowers pay a fixed capital of five million dong and the interest of two million dong per month. Under the second method, during the first month, borrower has to five million primary and two million dong dong pay interest. In the second month, the remaining capital is 195 million dong? The borrower must then pay a fixed capital of five million dong dong interest and 1,950,000. The interest costs would be reduced gradually each payment with the rest of the chapter. For the first method, on the original loan, the interest rate would certainly be offered much more attractive than the second method. Many customers misunderstand and think that they would have to apply for loans using the first method, less interest paid, but in reality after recalculation of the total amount to be paid by the customer, will be paid more than money when using the second method.

Vietnam Business And Financial News Network. Source [stox.vn]

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