Phone in hand - receive immediate support of up to 10 million Vietnamese dong through the Cashberry app

Cashberry - quick, convinient 24/7 online loans solution

CashBerry is a financial company, providing an online loan consultation service that is fully automated, disbursed within the day.

Loan term, days

By clicking on the Get a loan button above, you agree that you have read and agree with all content provided in the Terms and Condition and Privacy Policy

Payment date: 1
To return: 1 ₫

The conditions for applying for a loan at Cashberry

4 easy steps to register for a loan

1
Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
2
Getting approval and Signing an Agreement
The approval results will be anounce via phone call. Only need to log in to Personal account and sign an Agreement.
3
Receive money
After the application is approved, our partner will transfer the money to your account.
4
Repayment
Make repayment to our partner according to the instructions.
Loan
Loan
with flexible terms at CashBerry
  • 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
Get loan
  • 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

If you are a regular user of credit card or bank loan, you should pay attention to what is outstanding balance. The purpose is to avoid risks such as: high fees for late payments, lower credit scores, difficulty getting loans and opening credit cards later in all banks.

If you are a regular user of credit card or bank loan, you should pay attention to what is outstanding balance. The purpose is to avoid risks such as: high fees for late payments, lower credit scores, difficulty getting loans and opening credit cards later in all banks.

What is outstanding balance? - For many first-time customers, they will be quite confused with the terminology of finance and banking. For example, what is outstanding balance, diminishing balance, what is closing balance, what is credit balance? This article, CashBerry will help you understand all the concepts related to bank balance to be proactive in the process of using cards as well as borrowing and repaying loans.

What is outstanding balance? What is the total outstanding balance?

Debt balance (English name is Debt) is the amount you owe to the bank or the total balance of all loans. Whether your loan comes from a credit card, a mortgage, a mortgage, a home loan, a car loan or a deed of guarantee, the money you owe to the bank is called your outstanding balance.

However, the outstanding balance is just a general and not detailed name for each outstanding balance. To be more detailed, usually people will use the outstanding balance + "phrase" again to indicate the nature of the outstanding balance. Typically the types of outstanding loans are as follows.

What is outstanding credit?

Outstanding credit is just another name of outstanding balance, loan balance, in essence, all three names have similar meanings with each other. They all refer to the amount of money you owe the bank. This balance includes principal, interest, and other penalties.


What is decreasing outstanding debt?

Depreciation is the form of repayment you choose when you get a loan . Choose a reducing balance, the amount you contribute each month will gradually decrease until the debt is over.

The gradual monthly payments are due to the amount of interest calculated on the principal outstanding balance. Each month, the principal will decrease gradually, so the interest will decrease.

For example:

● You borrow 200 million from the bank.     

● Mortgage by car.     

● 12 months loan period.     

● Interest rate is 8% / year.     

● The form of loan is decreasing balance.     

Your monthly payment amounts are as follows:

States

Root remaining

Principal

Interest

Principal + Interest

first

200,000,000

16,666,667

1,333,333

18,000,000

2

183,333,333

16,666,667

1,222,222

17,888,889

3

166,666,667

16,666,667

1,111,111

17,777,778

4

150,000,000

16,666,667

1,000,000

17,666,667

5

133,333,333

16,666,667

888,889

17,555,556

6

116,666,667

16,666,667

777,778

17,444,444

7

100,000,000

16,666,667

666,667

17,333,333

8

83,333,333

16,666,667

555,556

17,222,222

9

66,666,667

16,666,667

444,444

17,111,111

ten

50,000,000

16,666,667

333,333

17,000,000

11

33,333,333

16,666,667

222,222

16,888,889

twelfth

16,666,667

16,666,667

111,111

16,777,778

 

 

total

8,666,667

208,666,667

Loan simulation table by decreasing outstanding loan balance

What is the initial balance?

Initial balance is the initial amount of your loan when you started signing your bank loan application.

If the amortization balance is an interest loan calculated based on the outstanding balance, the initial balance interest is calculated on the amount of your original loan. Borrowing with decreasing debt balance is like borrowing money in installments, every month the amount is the same.

Also in the above example, you will have a simulation of the monthly payments as follows:

States

Root remaining

Principal

Interest

Principal + Interest

first

200,000,000

16,666,667

1,333,333

18,000,000

2

183,333,333

16,666,667

1,333,333

18,000,000

3

166,666,667

16,666,667

1,333,333

18,000,000

4

150,000,000

16,666,667

1,333,333

18,000,000

5

133,333,333

16,666,667

1,333,333

18,000,000

6

116,666,667

16,666,667

1,333,333

18,000,000

7

100,000,000

16,666,667

1,333,333

18,000,000

8

83,333,333

16,666,667

1,333,333

18,000,000

9

66,666,667

16,666,667

1,333,333

18,000,000

ten

50,000,000

16,666,667

1,333,333

18,000,000

11

33,333,333

16,666,667

1,333,333

18,000,000

twelfth

16,666,667

16,666,667

1,333,333

18,000,000

 

 

total

16,000,000

216,000,000

Loan simulation table by original outstanding loan

What is principal balance?

Principal balance is the amount of principal that you owe the bank. This amount does not include interest, fees incurred in the bank credit loan process.

What is debt reduction?

Reducing outstanding loans is an act of paying off bank debt. For example, you owe the bank 1 billion. In addition to paying the bank every month, by the end of the year you have another 100 million left and want to pay that 100 million to the bank. Then paying that 100 million to the bank is called reducing your outstanding balance from 1 billion to 900 million as your remaining balance.

Usually, with the mortgage loan at the bank, you are allowed to reduce your balance by one piece. But in return you have to bear a certain fee about 2% of the amount you want to reduce. If after 5 years, the 2% penalty fee can be waived (depending on the bank).

What is the opening balance?

Opening balance is the amount you owe the bank at the start of a new interest period. A bank's interest period will normally be monthly. Outstanding balance at the beginning of the period is used in mortgage loans, unsecured loans and especially a lot in credit cards.

For example: In September, you owe 10 million, at the end of September until the date of payment you pay interest and principal 1 million more. The next interest period is at the beginning of October, your credit card recognizes the amount owed at the beginning of the period as 9 million dong. This 9 million is called the opening balance.

What is the closing balance?

Closing balance is the amount that the bank recognizes at the end of the credit line's statement period. The balance at the end of this period includes principal, fees and interest arising in that period.

For example: In September, you use 10 million VND, at the end of September to the closing date of the credit card statement is the 25th date, for example. The bank recognizes that the principal is 10 million dong, 300 thousand dong interest, and 10,000 dong fee, your closing balance is 10,310,000 dong.

Normally, the closing balance of the previous period is the opening balance of the next period.


What is outstanding guarantee?

Outstanding debt is the amount of money owed by the guarantee deeds that you make with the bank.

What is overdue debt?

Overdue balance is a debt that the borrower (can be an individual or a business), when due, must pay the bank both capital and interest, but the individual / enterprise cannot pay the capital and / or interest on time . This has a negative impact on the business operations of the bank as well as production and business activities of individuals / businesses that borrow money.

For example:

You borrow 50 million from the bank for a period of 6 months from 1/6/2021. So on December 1, 2021 you have to pay back both capital and interest to the bank. If by December 1, 2021, you have not paid off all debts to the bank, the outstanding amount is called overdue balance.

What is credit card balance?

For customers using a credit card, the credit card balance is the amount that the customer has spent on the card. The essence of a credit card is that the bank will lend you a certain amount. You use that card to spend, shop and have to pay back money to the bank. If you pay the full used amount from your credit card to your bank on time or on time, interest will not be charged and no late payment penalty will be imposed.

Suppose the bank issues you a credit card, the credit limit is 50 million dong (Credit limit is the maximum amount you can use from your credit card). Then, you use this credit card to buy a 10 million dong phone.

At that time, 10 million dong will be your credit card balance, 50 million is the granted credit limit, 40 million dong (50 - 10) is the remaining credit limit (available credit limit) .

What is the harm of overdue balance?

It can be said that the overdue debt balance greatly affects the borrower. Specifically:

● If the debt is overdue and the borrower still hasn't paid, they will be subject to a late payment penalty of 5 to 6%. This fee is applied based on the total outstanding balance that borrowers are carrying.     

● Persons with outstanding loans will not be able to participate in cash loans, unsecured loans or consumer loans.     

● The credit card will be deactivated and can no longer be used.     

● If the outstanding loan balance is too long, it will be included in the group of bad debts and difficult to borrow money in the future.     

● Even with the full payment of the outstanding loan, the borrower will need more time to approve the next loan.     

● If collateral is used when opening a credit card, part of the property may be foreclosed.     

To avoid overdue balance, you should control the outstanding balance to give reasonable solutions. At the same time, to pay principal and interest according to regulations and balance with their financial capacity and income sources.


How to pay the credit card balance

There are many ways you can pay off your credit card balance. Here are the 3 easiest and most popular payment methods.

Transfer

Customers can transfer money at counters, ATMs or through electronic banking channels to pay credit card balance.

Payment in cash

A simple way to pay off your credit card balance is to pay cash at ATMs or at bank counters.

Payment by check or payment order

Cardholder can sign a check or write a bank statement to request payment of the outstanding credit card balance.

If used smartly and properly, credit card is a means of " quick loan ", quite useful payment, preventing many risks when paying with cash. Conversely, if used without control, credit cardholders can easily fall into a spiral of debt.

What is the minimum outstanding balance payment?

Paying minimum balance is a term used in many credit cards. For credit cards, each month you will receive a statement emailed / mailed to indicate the transaction amount for the month.

Besides, the bank also announced the minimum payment amount and maximum payment amount of that month. The minimum payment amount is just enough so that you will not be converted to overdue debt, the remaining amount will continue to be charged for the next payment period.

What is maximum outstanding balance payment?

Contrary to the minimum payment amount, the maximum outstanding payment is the amount you need to pay to no longer owe the bank. This amount includes principal, interest and fees.

How to effectively limit credit balance

The risks from credit cards are always hidden and bring many consequences for users. To avoid unnecessary risks and effectively limit your credit balance, you should have a careful understanding of what your credit balance is and how your credit balance is currently. In addition, you should be aware of the following issues.

● Limit cash withdrawal from credit card:     

Withdrawing cash from credit card customers will be subject to additional withdrawal fee and withdrawal interest rate specified by the issuing bank. So this is what banks do not encourage customers to do.

● Reasonable expenses within the payment limit:     

Before making a spending or consider the payment limit and financial ability, avoid spending beyond your own financial ability. Also, if you have not paid the credit card in full in the previous period, you should limit shopping and spending by credit card during the period. Because if not, the amount of debt will increase higher and higher.

● Always keep your credit card secure:     

Absolutely do not give out credit card information to anyone. When your card is lost, you must immediately notify the bank to lock the card, to avoid being used by crooks.

● Do not open multiple credit cards:     

Do not open too many credit cards because it will be difficult to control your spending level. You are also more likely to get into bad debt if you don't pay the full amount you spend when it is due.

● Keep information relating to payment of credit balance:     

Please keep the balance sheet payment documents for comparison when having problems, until the bank has confirmed the successful repayment.

● Pay the outstanding credit on time:     

This is the last note and the most important one. Because when you pay off your credit balance on time, you will be in control of your finances. At the same time, you are also under pressure of mounting debt, able to live a more comfortable life. 


Are you taking out a loan from a CashBerry partner, currently due, but not sure how?

Or, the payment is due but you still do not have enough money, there are still difficulties. Don't worry, CashBerry is here to find a solution to help you right now

CashBerry payment instructions

Please only pay to the account of Lending Platform Trading Services Company Limited, a partner of CashBerry. Please note absolutely NO PAYMENT to any individual account.

If you have received any information / email / text about the payment request via your personal account, please notify our company immediately for further investigation. You can choose the payment channels that are right for you, for convenience and on time.

Online payment

1. Settlement of documents via Internet Banking / Mobile Banking

Quick money transfer via your Internet Banking / Mobile Banking. Choose the feature of fast money transfer 24/7 to other banks in the money transfer section to pay, with the payment account information as below. Also, do not forget to note the contract number in the payment content section.

● Step 1: Login to your Internet Banking / Mobile Banking account.     

● Step 2: Enter your CashBerry partner's account information to make payment:     

Beneficiary bank

Woori Bank (Woori Bank)

Beneficiary account name

BK CONG THUONG MAI DICH VU LENDING PLATFORM CO., LTD

Beneficiary account number **

Provided in your CashBerry account registered consultation or contact hotline Call now

Money transfer content

Contract number + first and last name


** To check the Beneficiary Account Number, please follow the steps below:

○ Login to the account you created to sign up to consult with CashBerry. Then press the button "close the application".     

○ Click to select your bank account number to register for consulting documents.     

○ The next screen will display the beneficiary's bank account information of CashBerry partner.     

● Step 3: Make the final settlement for your application and take a photo of the successful payment receipt     

2. Settlement of documents via MoMo e-wallet

Simple settlement of documents with the phone number you have registered for profile consultation or the contract number received when disbursing.

Payment in cash

● Step 1: Go to the counters of your bank or any other bank branch.     

● Step 2: Fill in payment information for CashBerry's partners (such as online payment channel)     

● Step 3: Finalize and save transaction receipts.     

In case, when the maturity date, you cannot afford to pay, you can proceed with loan extension. Please contact hotline 028 73 06 83 85 for detailed instructions.

In life, everyone has at least one loan. Can borrow to buy a house, buy a car or other consumer purposes. When borrowing becomes frequent, many people fall into deep debt, not knowing when to pay off their debts.

Debt is not only economic stress but also makes you feel tired and stressed all the time. Therefore, let's get rid of all debts and live a comfortable and happy life. Pay off debt, CashBerry will continue to support you in the next loan. You can fully enjoy life in your own way. 


Above are the answers on what is outstanding and the concepts involved. Understand their nature, you will be more proactive in the process of borrowing, spending and paying.

Are you having trouble wanting financial advice, fast money? Or are you having trouble paying your loan? Do not forget to contact CashBerry to get a loan online and find a solution to the above problems. CashBerry - online financial advisor ready to help you anytime, anywhere!

Help Help