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  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum

Playing hui can save you money, but it also has potential risks, sometimes even getting caught up in the law. So how to play hui to take profits, without breaking the law?

Playing hui has existed for a long time in Vietnamese society and is still present until now. Many people see this as a savings piggy bank, some see it as a profitable investment, others take advantage of it to appropriate money and then run away. What is hui and how to play to take profits, not to be scammed, please discover through the article below of CashBerry.

How to play hui ?

What is hui play ?

Playing hui (other names: surname, Hoi, Bieu, ward, hue), collectively known as surname, is a form of capital mobilization in Vietnamese folklore and is usually performed by women. This is the opposite form of installment payments . Previously, playing hui was not recognized and protected by Vietnamese law, but since 2006 there has been a decree 144/2006/ND-CP providing guidance on them.

Is it legal to play hui ?

Playing hui is not against the law. However, if a player commits acts of organizing hui to lend heavy interest, fraudulently appropriate property, abuses trust to appropriate property, illegally mobilizes capital, etc., they will be handled according to regulations. under the law.

How does the game play ?

There are two forms: profitable and unprofitable playing .

Normally, the format of playing hui will be organized as follows:

●    Playing the hui requires a person who does not come to be the owner, also known as the owner of the hui.

●    The owner will invite other members to join, called "con hui".

●    The owner is the person who is directly responsible for collecting money from the hui.

●    There is no limit to the number of participants in a band.

●    The members of the chain will agree with each other on the type of assets with a certain transaction value such as rice, gold, money.

Playing hui is not profitable

The organizer is called hui, invites everyone, who are friends and acquaintances who already know each other, to play hui.

For example, there are 12 people, each person contributes 10 million each month. A total of 120 million.

Each month, one person will receive this money to use as capital or to spend.

Each group will have a way to determine who will receive money that month, usually by lottery, or determine who needs the money more urgently.

The person who receives the money in that month, the rest is the collector who will pay an amount for the meeting. And in turn, everyone gets the scoop.

The unprofitable form of hui almost only exists in very close groups of friends

The unprofitable form of hui almost only exists in very close groups of friends

There is a fee to play hui (also known as Thao) for the owner

The draft amount is from 5%-20% of a member's monthly fee.

Now let's look at the efficiency problem, of joining hui according to the following example:

"Hui consists of 12 people, including the owner. Each person will basically contribute 1 million/month. Those who want to withdraw must bid. And whoever asks for the highest price will be picked up. That person has to pay right. pay 200,000 dong to the owner who has the merit of organizing"

Suppose the winner in January asks for 110,000, that is, in January, other members only have to pay = 1,000,000 - 110,000 = 890,000 VND. That is, the winner of January will be from 11 members, the remaining amount is = 11 * 890,000. The collector still has to pay 200,000 to the owner, so the amount of the person in January will be = 11 * 890,000 - 200,000 = 9,590,000. After collecting the hui in January, from February this person has to pay the hui amount: 1,000,000 VND/month.

Assume that the amount of money called hui in the months is 100,000 VND (February), 90,000 VND (March), 80,000 VND (April), up to 10,000 VND (November), and 0 VND in December.

Let's analyze March withdrawals:

In January: Because he asked for 110,000 in January, he only paid 890,000 VND in January in March.

In February: Because he asked for 100,000 VND in February, he only paid 900,000 VND in February in March.

In March: he withdraws: 2 parts of his 1 million in January, his brother in February, and 9 parts * 910,000 VND (the monthly fee is 9,000 VND), minus 200,000 fees. Total you in March = 2 * 1,000,000 + 9 * 910,000 – 200,000 = 9,990,000 VND

- From April to December: every month he pays the death penalty: 1,000,000 VND.

- Applying IRR formula, we will calculate the interest rate of this cash flow as: 2.04%/month.

** When playing hui with support, whoever needs money every month will collect it in that month. This is the greatest effect of playing hui.

However, we also need to analyze the rate of return on each month, to see which month is the most profitable. The illustration is an Excel spreadsheet, setting the formula, returning the cash flow and calculating the interest rate using the IRR formula.

** Six people who collected hui in the first 6 months, received early hui and received less money than the total amount they paid, should be considered as borrowers.

- People who collect money in January, bear loan interest rate: 2.36%/month

- Those who collect in February, bear the loan interest rate: 2.20%/month

- Those who collect in March, bear the loan interest rate: 2.04%/month

- Those who collect in April, bear the loan interest rate: 1.90%/month

- Those who collect in May, bear the loan interest rate: 1.78%/month

- People who collect in June, bear the loan interest rate: 9.7%/month. This person bears the highest interest, Reason: this person received the positive money the latest out of the 6 borrowers.

** Six people who collected money in the following 6 months, received late and received more money than the total amount they paid, so they are considered as money lenders.

- People who collect money in July, enjoy loan interest rate: 1.24%/month. This person is the lender with the highest interest rate, after the owner. The reason: this person gets the earliest positive money out of the 6 lenders.

- People who save money in August, enjoy loan interest rate: 1.22%/month

- People who collect berries in September, enjoy loan interest: 1.11%/month

- People who collect money in October, enjoy loan interest: 0.99%/month

- People who collect money in October, enjoy loan interest: 0.99%/month

- People who collect money in November, enjoy loan interest: 0.86%/month

- People who collect hui in December, if kg must be the owner, enjoy interest: 1.05%/month.

If this person is also the owner, that is, he will receive a fee of 200,000 VND per month, so he will enjoy a very high loan interest rate: 5.05%/month.

Hoi has a salary equal to or more than 50% of a member's monthly salary

For example: "Hui consists of 12 people, including the owner. Each person will basically contribute 1 million/month. Those who want to withdraw must bid. And whoever bids the highest price will be picked up. That person must pay 500,000 VND to the owner, who has the merit of organizing and responsible for the risk when the hui breaks".

Suppose the winning amount: 140,000 VND (January), 130,000 VND (February), 120,000 VND (March)…

And the winner must pay the owner 500,000 VND,

Similar to above, we have:

- Average loan interest rate of 5 early adopters: 3.5% - 5%/month

- Loan interest rate of 5 people who collect later: 0.6%-0.9%/month

- Loan interest rate of December collectors is 1.59%/month

If this person is also the owner, and receives a fee of 500,000 VND, the loan interest rate will be: 14.85%/month.

If the owner continuously organizes this, the annual return is: 426.60%/year. Terrible high.

Note when playing hui

Concepts related to playing hui

When playing hui, you need to pay attention to some concepts:

●    Dead hui: The person who collected first and is paying interest for the following periods.

●    Live hui: A person who has not yet collected hui, is receiving profit from the person who has collected hui first.

●    Pool hui: That is, the owner has collected enough money from the hui but when it comes to opening the hui, he does not pay the person who is collected.

●    Giac hui: That is, when the time comes to open the hui, the owner does not appear, just like the owner has fled.

Potential risks when playing hui

The cases of broken hui, broken hui in recent years have shown the danger of this form of "capital contribution". There are many risks that may arise in the process of contributing money.

For example, while keeping the money of the hui, the owner, because he is in need or wants to get rich, takes the money away for personal use or lends it to him and can't get it back. So the whole line was "broken", unable to pay the players.

Another case often happens, that is when a player wants to have a lot of profit, wait until the end of the last term to "take out", but the remaining players do not participate anymore. Thus, the last withdrawer is likely to lose everything if the owner refuses to take responsibility.

In addition, the owner can cheat players by creating many "hui ma" strings: consisting of only a few players but impersonating many more people to increase the attractiveness of the hui line and increase the number of plays. .

This is the case that has often happened in recent years, causing many people to struggle and suffer because they have missed their owners for a long time and lost all their life savings.

Playing hui has potential risks of being scammed and losing money, so consider before joining

Playing hui has potential risks of being scammed and losing money, so consider before joining

In terms of consequences, according to Decree No. 144/2006/ND-CP dated November 27, 2006 on hui (them) who cheated when playing hui, as long as the fraud amount is over 2 million dong, they will be held responsible. legal before State agencies and members of the Hui line.

In addition, the assets obtained from this line will be processed and returned to the members who have the right to receive them to ensure their legitimate rights and interests.

If the amount of property collected is not enough to fulfill the obligation, the value of the property obtained will be paid to the person entitled to receive them according to the ratio of the contributed money to the total amount paid by the members in an opening period. ; The part not paid in full will be considered the risk of the participants.

What to do to avoid being scammed?

- Only participate in the hui when the owner has high credibility, reputation, and good character.

- Agreements on hui must be made in writing, notarized or authenticated, which clearly shows information such as: name and address of the owner and members, part hui, opening period, format. capital contribution and hui, responsibilities of the owner, rights and obligations of members, dispute resolution issues, ...

- In the process of property contribution, it is necessary to have receipts, signatures, ... and be kept sufficiently to protect your interests.

- The members must participate fully in the opening of the hui, in order not to let the owner take the name of the member to collect the hui. When an incident occurs, it must promptly report it to a competent agency such as the Court, the Police, ... for settlement according to law.

Should I play or not?

Playing hui is a form of quick capital mobilization, the interest rate is not too high and you do not have to pay at the same time. The form of playing hui helps you reduce economic pressure. However, to ensure your rights, you should play hui of reputable owners to avoid being snatched and damaged, causing property damage.

Playing hui has a starting point based on good intentions, in order to raise capital and provide financial support together when facing difficulties. However, as time passed, they morphed and became a hot loan with exorbitant high interest rates. Besides, participating in the ropes, you will also encounter many risks such as situations: pooling, jerking, etc.

Currently, financial lending services are increasingly developing with easier conditions for borrowers. Therefore, when you need money urgently, you can refer to loan services instead of joining a group.

CashBerry - an online financial consulting service, supporting short-term loans from 1 to 10 million VND. To borrow money online, customers only need to be Vietnamese citizens in the working age range from 18 to 60, with a stable income of 3 million VND/month or more.

Why should you choose to borrow CashBerry money?

●    Simple loan: No need to prove income, no collateral required.

●    Low interest rate: only from 0.9%/month. This is considered the preferential interest rate in the market.

●    Quick loan: Loan approval and disbursement in just 30 minutes.

●    High approval rate: 95% of registered customers are approved for loans.

●    More convenient: Online registration at home does not need to go far.

●    Absolute security: 100% confidentiality of personal information, loan information.

●    Safe for you: CashBerry is rated as one of the reputable fast online unsecured loan providers.

To get quick loan support, you just need to visit the website or download the CashBerry app and fill out the application, apply for a loan and receive money.

It can be seen that playing hui is not bad, it is also a form of quick capital mobilization for people to save money or advance money for emergency situations with simple procedures.

However, playing hui is only based on the personal beliefs of the members without collateral (no collateral or mortgage), it is very easy to encounter unforeseen problems. Especially the owner, the person holding the key role also needs to be considered trustworthy or not. In particular, people should not consider hui as a form of investment to enjoy high interest rates.

Therefore, if you are in a money-strapped situation or want to join a certain gambling line , you should consider the possible risks, or bring that money to a reputable bank to be able to play. ensure the safety of your property. Need advice on how to borrow money, please contact CashBerry for support!

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