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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

In the face of increasingly expensive car prices, the amount of money spent to buy a car exceeds the ability of many individuals. So many people have chosen the form of car loans with low interest installments at banks, both solving financial problems and owning the car as they want.

However, how much is the car loan interest rate, which bank should buy a car at the best bank? To make it easier for you to choose a bank for a car loan, CashBerry has compiled 10 banks with auto loan policies with good interest rates and many attractive incentives.

There are two types of umbrella loans: unsecured loans and mortgage loans. In particular, mortgage loans have lower interest rates, higher approval rates than unsecured loans. Therefore, many people choose to take the form of a car loan as a mortgage.

Mortgage to buy a car is understood as a loan obtained based on the value of the car you buy or another asset such as a savings book, red book, etc. Depending on the value of the collateral, you only need to pay 10-20% of the car's value in advance , the rest will be paid in the form of installments.

Typically, car loans have a fixed interest rate for about 6-12 months. After this time, the floating interest rate of banks is usually 11 - 13%/year Customers should carefully calculate to choose the bank with the lowest interest rate but still ensure the safety of the loan package.

Top 10 banks with the best car loan interest rates

Based on the reputation of banks and reviews from many customers, CashBerry has compiled 10 banks with the best car loans for you.

Summary of the top 10 reputable and best car loan banks in 2021

Bank

Preferential interest rates for the first months (%/year)

Maximum limit (% of vehicle value)

Maximum term

6 months

12 months

24 months

36 months

Techcombank

8.29

 

 

 

80%

7 years

VPBank

8.49

9.49

 

 

100%

7 years

Vietcombank

 

8.4

9.1

9.5

100%

5 years

BIDV

 

7.8

8.8

 

100%

7 years

Vietinbank

 

7.7

 

 

80%

5 years

VIB

8.3

9.6

 

 

80%

8 years

TPBank

 

8.2

9.5

 

100%

7 years

Shinhan Bank

 

7.69

8.49

9.69

100%

5 years

OCB

7.99

9.49

 

 

80%

10 years

MSB

6.99

7.99

 

 

95%

25 years

 

 

​No more rainy days, from now on, your family can comfortably enjoy the comfort and warmth of a luxury car thanks to the support from the banks below.  

Techcombank car loan

Installment car purchase package with Techcombank:

■ Maximum loan limit: 80% of car value with new car; 75% of car value with used car với     

■ Maximum term: 7 years (VinFast brand new car 8 years) for new cars, 6 years for old cars     

■ Preferential interest rate: 8.29%/year fixed for the first 6 months     

VPBank car loan

VPBank's installment car purchase package:

■ Maximum loan limit: 100% of car value     

■ Maximum term: 7 years for new car, 5 years for used car     

■ Interest rate: 7.5%/year fixed for the first 3 months, there are 3 loan packages:     

VPBank loan package

Fixed interest rate

3 months

Fixed interest rate

6 months

Fixed interest rate

12 months

Interest rate

7.5%/year

8.49%/year

9.49%/year

Fixed interest period

3 months

6 months

12 months

Interest rate after incentives

11.5%/year

11.5%/year

12 years

Vietcombank car loan

Vietcombank installment car purchase package:

■ Maximum loan limit: 100% of car value     

■ Maximum term: 5 years     

■ Interest rate: 8.4%/year fixed for the first 12 months, after preferential interest rate is estimated at 10.5%/year     

■ There are 3 loan packages:     

Vietcombank loan package

Fixed interest rate

12 months

Fixed interest rate

24 months

Fixed interest rate

36 months

Interest rate

8.4%/year

9.1%/year

9.5%/year

Fixed interest period

12 months

24 months

36 months

Loan to buy a car at BIDV bank

BIDV's installment car purchase package:

■ Maximum loan limit: 100% of car value     

■ Maximum term: 7 years     

■ Interest rate: 7.8%/year fixed for the first 12 months, estimated interest rate after incentives is 10.5%/year     

■ There are 2 loan packages:     

BIDV loan package

Fixed interest rate

12 months

Fixed interest rate

24 months

Interest rate

7.8%/year

8.8%/year

Fixed interest period

12 months

24 months

Loan to buy a car from Vietinbank

Vietinbank car purchase package:

■ Maximum loan limit: 80% of car value     

■ Maximum term: 5 years     

■ Interest rate: 7.7%/year fixed for the first 12 months, estimated interest rate after incentive is 11%/year/     

Car loan from VIB . bank

VIB installment car purchase package:

■ Maximum loan limit: 80% of car value     

■ Maximum term: 8 years for new car, 6 years for used car     

■ Interest rate: 8.3%/year fixed for the first 6 months     

■ There are 2 loan packages for new cars and 2 packages for used cars:     

VIB loan package

Fixed interest rate for 6 months

12 months fixed interest rate

Fixed interest rate for 6 months

12 months fixed interest rate

 

New car

New car

Old car

Old car

Interest rate

8.3%/year

9.6%/year

8.8%/year

10.1%/year

Fixed interest period

6 months

12 months

6 months

12 months

TPBank car loan

TPBank installment car purchase package:

■ Maximum loan limit: 100% of car value     

■ Maximum term: 7 years     

■ Interest rate: 7.6%/year fixed for the first 3 months, the interest rate after incentives is expected to fluctuate in the range of 3.4% - 3.8%/year     

■ There are 3 loan packages:     

TPBank loan package

Fixed interest rate

3 months

Fixed interest rate

12 months

Fixed interest rate

24 months

Interest rate

7.6%/year

8.2%/year

9.5%/year

Fixed interest period

3 months

6 months

12 months

Shinhan Bank car loan

Shinhan Bank installment car purchase package:

■ Maximum loan limit: 100% of car value     

■ Maximum term: 5 years     

■ Interest rate: 7.69%/year fixed for the first 12 months     

■ There are 3 loan packages:     

Shinhan Bank loan package

Fixed interest rate

12 months

Fixed interest rate

24 months

Fixed interest rate

36 months

Interest rate

7.69%/year

8.49%/year

9.69%/year

Fixed interest period

12 months

24 months

36 months

OCB bank car loan

OCB installment car purchase package:

■ Maximum loan limit: 80% of car value     

■ Maximum term: 10 years     

■ Interest rate: 7.99%/year, fixed for the first 6 months, after preferential interest rate is estimated at 11.5%/year     

■ There are 2 loan packages:     

OCB loan package

Fixed interest rate

6 months

Fixed interest rate

12 months

Interest rate

7.99%/year

9.49%/year

Fixed interest period

6 months

12 months

MSB bank car loan

MSB installment car purchase package:

■ Maximum loan limit: 95% of car value     

■ Maximum term: 25 years     

■ Interest rate: 6.99%/year fixed for the first 6 months     

■ There are 3 loan packages:     

MSB loan package

Fixed interest rate

6 months

Fixed interest rate

12 months

Fixed interest rate

18 months

Interest rate

6.99%/year

7.99%/year

8.75%/year

Fixed interest period

6 months

12 months

18 months

 

 

Note when borrowing money to buy a car on installments

Do you need a bank loan to buy a car? However, before deciding to choose a loan at which bank, you need to keep a few things in mind.

● Consider getting a car loan at companies and dealers that are partners of the bank     

Currently, many banks cooperate with automobile manufacturing and trading enterprises to provide customers with many attractive incentive programs. 

Example: Techcombank is cooperating with Truong Hai Automobile Joint Stock Company (Thaco) to implement a loan program to buy passenger cars of Kia and Mazda brands, manufactured and assembled by Thaco. Loan interest rate is from 8.29%/year, loan limit is 80% of the value of collateral with loan term up to 84 months.

Therefore, customers should consider buying cars at companies and dealers that are partners of lending banks to enjoy preferential interest rates and many accompanying promotions.

● Interest margin after incentives     

Interest margin after incentives is a "black hole" that easily makes you more indebted if you don't consider it carefully. Many inexperienced customers are only interested in low preferential interest rates but do not pay attention to the increasing interest rate margin after the preferential period expires, thereby leading to insufficient financial status to pay fixed loans period.

Example: Compare bank X with 6.5% interest rate for the first 6 months, then 3.5% interest rate; For bank Y, the interest rate for the first 12 months is 7.5%, the interest margin after incentives is 2.8%. With this problem, you need to understand how to calculate the car loan interest rate to calculate your loan, so that you can make the best choice when taking out a loan.

● Prepare all documents and procedures     

Before taking out a car loan at any bank, you should refer to the car loan application for installment and the process of buying a car with specific installments to have the best preparation.

Installing a car loan is a great option to help people who do not have the financial conditions to own the car they want right away. However, to avoid falling into debt and financial pressure, car buyers need to be smart and alert. Figure out your ability to pay, so that owning a car is always a joy and pride.

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