Compared with other forms of mortgage loans, borrowing money from Phu Quoc online through financial companies will help avoid asset risks.
In the past, when people wanted to borrow money in Phu Quoc , people often chose pawn loans and private loans more. The advantage of this form is receiving money on the spot without having to do many complicated procedures. However, it is accompanied by the risks of high interest rates and the possibility of "lost" assets.
So, is there any form of loan that is not complicated, safe and still guaranteed to receive a quick loan instead? Let's go with CashBerry to find the answer in the article below!
Quick loan forms are available in Phu Quoc
1. Private loan
Private loans are similar to black credit loans , unscrupulous loans , etc. These forms of borrowing money in Phu Quoc originate from unorthodox lending individuals or organizations. To get a loan is very simple, just need some identification or real estate documents. Depending on the paper value, the loan value will be determined. Although receiving money quickly, the risk of interest is not small.
In essence, this is a disguised form of loan sharking. Most interest rates are determined by the lender. Interest can be calculated on a monthly basis, but also on a daily or hourly basis.
Over time, debt piled up, interest piled up, making borrowers unable to pay. At this time, the lender will find ways to take away the property. In some cases, borrowers mortgage real estate papers, leaving families homeless.
2. Pawn loan
Pawn loans are classified in the list of conditional business lines according to the provisions of Vietnamese law. However, from a legal perspective, there is currently no document specifying the concept of pawn. In simple terms, a pawn loan is a form of loan. The person who needs to borrow money must bring legal assets to the pawn shop.
Because they do not have access to bank capital, many people who need to borrow money in Phu Quoc choose to switch to pawn loans. But due to lack of research, most borrowers often face risks such as:
- Encounter with a pawn shop that does not meet the business conditions.
- The actual loan interest rate is very high and the pawnbroker often tries to "evade the law", not to let the borrower know.
- Many fees incurred when borrowing such as: Application fee, maturity fee, ...
On the other hand, interest rates on loans at pawn shops are often very high. Pawnshops don't care if the borrower can repay the loan. They only target property values and lend at a certain rate. The risk of interest on top of interest, loss of collateral is very high!
3. Quick loan online at CashBerry
Compared to pawn loans, online quick loans at financial companies are the current trend of safe loans. Along with the 4.0 technology era, borrowers only need to perform a few simple steps on online platforms to be able to receive the desired loan.
Nearly all disadvantages of pawn loans have been overcome by "fast money loans online":
- Borrowers do not need to go far to complete the procedure.
- Simple form of transaction: Via internet banking service of the bank.
- No need for too many important papers.
- No need to mortgage any assets.
- Interest rates are transparent from the beginning and are calculated based on the loan amount and loan term.
Currently, reputable financial companies like CashBerry have actively upgraded to loan applications with an easy-to-use interface, suitable for everyone. Therefore, more and more people who want to borrow money in Phu Quoc switch to this new, extremely convenient form of loan.
CashBerry, the market leading online quick loan support unit
Online quick loans are popular in recent years. With just a few simple steps, you will receive the desired loan immediately. Simple procedures and quick disbursement time are useful features for customers who need money urgently but do not want to wait for cumbersome procedures from the bank.
Advantages of quick loans online via CashBerry
To effectively rotate capital, many business owners in Phu Quoc start unsecured loans with the CashBerry loan application . This form of unsecured loan helps business owners to carry out procedures quickly, without having to go far and still receive money within a day.
Not only for investors, all needs for quick loans in Phu Quoc can be done quickly through the application. Especially, even if you have a history of bad debt and can't get a loan from a bank, CashBerry still supports this case.
In addition, there are other advantages such as:
- All procedures, from loan to payment, are done on online platforms. Wherever you are, you can connect with us.
- The only document is valid ID/CCCD.
- No need to bring mortgaged or mortgaged assets.
- No need to do complicated income proof procedures.
- After the application is approved, the loan will be in the account within 5-10 minutes.
- All Vietnamese citizens, 18 years of age or older, have a valid ID/CCCD.
- People who are in urgent need of borrowing money in a short time.
- People who already have a bank account and register for internet banking service.
- Office workers, civil servants, students,... with a monthly income of 3 million VND or more can apply for a loan.
If you are a citizen living in Phu Quoc area, just have your ID card/CCCD ready (original) to complete the loan application at CashBerry.
Steps to apply for a quick loan online at CashBerry
- Step 1: Apply for a loan at CashBerry's website/app
- Visit the website by following the link cashberry.vn or go to the CH Play store and immediately download the CashBerry app to your phone.
- Click on "GET LOAN" and enter all personal information, including: full name, year of birth, occupation, income, ...
- Enter the correct bank account number to ensure the right loan for you.
In particular, the more accurate and detailed the information provided, the higher the borrower's reliability. As a result, the speed of document approval will be faster and the limit will be higher.
- Step 2: Verify the application and receive the results
CashBerry's system will automatically receive the application and proceed with the review. Then, the consultant will contact you again to confirm the information, set the limit that you can borrow.
In addition, you also get free financial advice, support anytime, anywhere during the loan and payment process.
- Step 3: The loan is disbursed within the day
If you think the loan is reasonable and agree, go to your account on the website or app to sign the contract. The money will be transferred to the bank account you previously registered immediately, no need to take any further steps.
- Step 4: Pay the loan on time as agreed
Currently, CashBerry has two main payment methods for you to choose from: 24/7 internet banking or going to the nearest transaction office to transfer cash.
Mistakes to avoid to increase loan approval rate at CashBerry
As mentioned, the procedure to borrow money at CashBerry is very simple, but there are still cases where the documents are not valid. This hinders the quick disbursement and does not respond in a timely manner. To prevent this from happening, please avoid doing the following.
1. Providing false personal information
To complete a valid unsecured loan application, you need to provide accurate information such as: ID/CCCD number, full name, phone number, address,... In addition, you need to declare an additional number Reference phone of relatives to increase approval rate and increase loan limit.
For photo ID/CCCD, it must be clear and complete on both sides. If you provide the wrong information, your profile will have problems in the review process. The possibility of being "rejected" is very high.
2. Bad credit history can hinder approval rates
Not just CashBerry, any bank or financial institution looks at your credit history. If you have a bad history such as unpaid debts, late payments, etc., your case will be reviewed more closely. Most loan applications support bad debt , but the loan limit will not be high.
You should declare more specific jobs and ensure that the monthly income from 4 million will be approved. In addition, sensitive professions such as police, lawyers and soldiers will be more difficult to be approved.
3. Choose a loan that is too large for your ability to pay
Although you do not have to prove your income, you also need to consider your ability to pay. This helps you avoid unnecessary risks. If you need advice on the right loan solution, please contact the CashBerry customer care team. We will help you find the right loan for your needs and ability to pay.
Compared with pawn loans, online credit loans at reputable financial companies like CashBerry will help you limit unnecessary risks on interest rates and assets. Hopefully, the solution that CashBerry offers will help you make a quick and safe loan in Phu Quoc .