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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

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Payment date: 1
To return: 1 ₫

The conditions for applying for a loan at Cashberry

4 easy steps to register for a loan

Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
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.
Receive money
After the application is approved, our partner will transfer the money to your account.
Make repayment to our partner according to the instructions.
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

Installment loan is a form used by many people, but, what are the advantages and disadvantages, where and how to borrow money to buy installments? Please find out!

Owning a new phone, a motorbike, or other household items is not difficult because there are many quick and simple forms of purchase, including installment loans . However, not everyone understands this type of loan. So how does an installment loan actually work, what should be noted when using it?

What is an installment loan ?

Installment loan is a form of purchase where buyers do not need to pay the entire amount to buy the item they need in one go. Instead, you only need to pay about 10% - 50% of the value of the item, the rest of the lending organization (bank, financial company) will pay the store. Your obligation is to pay the loan amount, including interest and fees, to the loan provider.

You need to understand, the amount of money the buyer gets to borrow is not directly lent by the store, but by the financial companies and banks that cooperate with the place that sells the product. After purchase, the buyer is obliged to pay the monthly installment to the financial company, the bank as agreed in the contract.

When borrowing cash for installment purchases , the loan amount and interest will be broken down for customers to easily pay on each term. The installment loan term can be 6 months, 9 months, 12 months , etc., depending on the agreement and signed in the contract between you and the lender.

Installment loans help people get their favorite products when they can't afford it

Installment loans help people get their favorite products when they can't afford it

Benefits of installment loans

You only need to spend a small amount of money to immediately own a great value item without having to wait for enough savings or borrow from relatives and friends. The money you should have paid off to buy an air conditioner or refrigerator, you can transfer to other expenses.

Buying in installments, you reduce your financial burden when you have to pay various living expenses, especially during Tet. This is a form of borrowing money through installment purchases, consumers do not need to mortgage assets.

However, besides the advantages, installment purchase also has certain limitations.

Disadvantages of installment loans

First, the procedure of buying installments, buying loans with monthly installments will be more complicated than making a one-time payment, because in addition to completing the relevant documents, the buyer also has to wait for the bank, the unit associated with the payment. place of sale to verify financial status.

Buying in installments, you may incur a higher price than a one-time payment at the time of purchase, due to the interest on the installment payment. In addition, many credit institutions, when affiliated with the store, lend you money to buy goods on installments, all require you to buy insurance for the loan, causing you to lose an extra amount.

Installment loan interest rate

Interest rates on installment loans vary depending on the lending institution, the loan value or the item you buy on installments. Currently, financial companies offer preferential interest rates from 1.6 - 5%/month . If you buy goods by credit card, you will receive a preferential installment payment with 0% interest .

The monthly installment amount will be calculated using the formula:

Amount to be paid monthly = (Loan value / Loan term) + (Loan value x monthly interest rate)

Interest rates on installment loans are calculated according to the decreasing balance of the loan and are fixed throughout the loan term.

Classification of forms of installment loans

With installment loans, you should base on the product classification to choose exactly this type of loan. Accordingly, installment loan products are currently classified mainly according to 2 criteria as follows:

- Classification by lending institution:

● Installment loans through financial companies:      

There are many financial companies that lend to buy installments through links with repair systems and supermarkets. You can buy installment loans at stores that are partners of financial companies that provide installment loans, some companies such as Home Credit, FE Credit, HD Saison,...

● Installment loan via bank:      

With a bank installment loan , you need to use a bank credit card with an installment plan. Accordingly, you use a credit card to pay the entire amount for the store (this is like a representative bank to pay you because credit cards have a "spend first - pay later" feature). You will receive the item you want to buy and pay monthly installments to the bank. The highlight of the way to buy goods by installment via bank is that you can pay installments with 0% interest rate, no fees.

- Classification by type of loan:

● Cash installment loans:      

This is a form of installment loan where the prepayment, monthly installments, interest, etc. will be paid in cash to the lending institution. You will go directly to the store to pay.

● Installment loan by credit card:      

It is a form of installment purchase where the prepayment, monthly installments, interest, ... will be paid on a credit card. You do not need to go to the store to pay directly, just pay these amounts according to the usual payment method and payment term of your credit card. The installment amount will be displayed on the monthly statement sent by the bank to the customer. 

Installment loan via credit card, you will enjoy 0% interest rate

Installment loan via credit card, you will enjoy 0% interest rate

Where to buy installment loans ?

Currently, the lending financial market is very dynamic and diverse, meeting most of the loan needs of customers. Accordingly, if you have financial difficulties and want to borrow money for installment purchases, you can choose reputable banks or legal financial companies.

● Borrowing for purchases at stores and supermarkets associated with reputable financial companies such as: FE Credit, Home Credit, HD Saison, MCredit, etc.      

● Installment loans at supermarkets, shops associated with banks through the form of buying by credit card. This is an attractive program for credit cardholders with 0% interest rate, no fees, you should take advantage of this program. Some credit cards of banks with incentives to participate in the installment purchase program such as: BIDV international credit card, HSBC credit card, Sacombank international credit card, MSB credit card,...      

● Installment loans at the system of stores and supermarkets associated with many lending organizations such as: Nguyen Kim, Mobile World, FPT shop, Dien May Xanh,...      

Important notes when borrowing money for installment purchases

Loans for purchase of installments are now becoming a trend that people are interested in. To ensure a smooth loan-buying process, you need to note the following:

● Learn more about lending institutions: There are many financial companies and banks offering installment loans in the market, before deciding to take out an installment loan, you should learn the policies of each lending institution. have a choice that suits your plan, thereby ensuring a smooth installment purchase process.      

● Choose a reliable shopping address to ensure the best benefits for you. In addition, a reputable and widespread retail system will make it easy for you to pay monthly installments.      

● Financial security is required to be able to complete the contract without penalty in case of late payment or insolvency.      

● Read the installment loan contract carefully before signing, especially pay attention to the interest rate, loan term, amount to be paid each month, payment method, etc.      

● Only borrow to buy goods in installments when needed and within your ability to pay.      

● Pay attention to the interest rate or service charge of the installment item.      

When taking out an installment loan, the purchase amount will be higher than the original price

When taking out an installment loan, the purchase amount will be higher than the original price

If you can't get an installment loan, where can you borrow money right away?

In case you cannot qualify for an installment loan while in desperate need of something, you can apply for CashBerry.

CashBerry is a financial company that supports online loans 24/24 , with a limit of 1 - 10 million VND . With that money, you can still buy products such as phones, home appliances, personal consumables, necessities, ... without having to pay monthly installments. The loan has a term of 10 - 20 - 30 days to help you repay quickly. You can also get a loan right away if the payment is successful.

To apply for a quick loan , you can visit or download the CashBerry app on CH Play. 95% of registered customers have been disbursed to their accounts within the same day, how about you?

It can be said that an installment loan is a form of loan that helps you immediately own your favorite item even if you do not have enough money. However, in order to enjoy the incentives from installment loans as well as avoid unnecessary risks, you should also pay attention to the issues mentioned above. Don't forget, if you have trouble getting a loan, just contact CashBerry for support!

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