Short-term loans online at CashBerry is a credit solution that meets short-term borrowing needs arising from businesses and individuals. From that support, individuals and businesses can effectively seize business opportunities immediately, meeting flexible, fast and modern consumer tastes.
Short-term loans online at CashBerry is a credit solution to meet the arising short-term loan needs of businesses and individuals. From that support, individuals and businesses can effectively seize business opportunities immediately, meeting flexible, fast and modern consumer tastes.
CashBerry is a consulting platform and provides online financial solutions 24/7, to support your extraordinary financial needs.
Understanding the financial problems you are facing, we try to bring you the simplest, fastest and most convenient financial solutions.
Digital Platform One Member Limited Company is a unit that manages and performs financial advisory and connection activities with our lending partners.
Our lending partner is Lending Platform TradingDV Company Limited with Business Registration Certificate No. 0316078299 issued by the Department of Planning and Investment of Ho Chi Minh City on December 27, 2019.
Information about this form of loan is as follows:
- Limit: Maximum 10 million.
- Subjects registered to borrow with ID card
+ Nationality: Vietnamese.
+ Age: Over 18.
+ Income: Stable.
+ Region: Nationwide of Vietnam.
- Loan period: Flexible, 90 - 180 days.
When borrowing identity cards at CashBerry Vietnam, customers only have to pay interest rates of 10.95 - 14.6% / year, equivalent to 0.9 - 1.2% / month.
* Fast loan approval time: only 20 minutes
* Transparent interest rate: clearly displayed on the loan agreement
* Simple procedure: just take 2-sided photo of ID card
* Non-mortgage loan: no collateral is required
* No application fee fee: consulting service and loan registration guide are completely free
* Easy online payment: payment via bank transfer
* Track your loan anytime, anywhere: just with an Internet-connected phone, you can access your account to check whenever you want.
The form of short-term loan quickly, highly convenient, and includes many benefits for customers, that is the direction that CashBerry has been and will be implementing.
If you are in urgent need of a loan , or want professional financial advice right now, you can contact CashBerry from now on! Since time waits for no one, seize the opportunity!
The above is a reputable and fast CashBerry short-term loan, you can refer and use if you really need money urgently. And now, sip a cup of coffee, sit and learn about the form of short-term loans with CashBerry. CashBerry not only helps supplement knowledge, but also helps you become a smart consumer with effective loans.
Short term loan in English is Short Term Loan. This is a form of bank credit granting to businesses and individuals. Accordingly, the bank or finance company assigns businesses or individuals an amount of money to use for a certain purpose, for a certain period of time (not exceeding 12 months) with the principle of guarantee of recovery. full loan principal and interest.
Short-term loans are suitable for production and business loans to help small and medium business units to do business with loans quickly, especially in seasonal agricultural cultivation.
Short-term borrowing is a way to classify a bank's loan product based on the loan period:
● Short-term loan (less than 1 year)
● Medium-term loans (from 1-5 years)
● Long-term loan (from 5-40 years)
- For Businesses
+ Additional capital, creating conditions for enterprises to expand production and business activities.
+ Help businesses strengthen management and effective use of business capital.
+ Positive impact on development pace, promoting competition.
- For individuals
For individuals is a form of quick disbursement, helping to solve personal financial problems. The personal activities in the budget deficit such as consumption, electricity and water, tuition fees, ... need short-term loans.
People often know that the forms of unsecured loans, mortgage loans, collateral loans are based on borrowed assets. Short-term loans are based on the loan support period, loan characteristics are still the same as other forms of borrowing, specifically:
● Borrowing for a short period of time, usually with a term of less than 1 year
● The loan limit depends on the needs and collateral
● Loan for the purpose of using short-term capital
● Have collateral or collateral
● Various forms of loan: credit loans, account overdraft loans, seasonal loans, ...
Short-term loans are most suitable when your business lacks short-term business capital flows. You will need loan at times when sales are low, but you will still need to pay operating costs.
You also need capital during the growth phase, when you have to pay for advertising costs, for site repairs, and staff salaries while the proceeds from sales have not returned.
In particular, in the season of business, you need a large amount of capital to import goods or when the supplier is scarce for sale or has a discount policy.
Or, you need a short-term loan to serve your consumption and shopping needs in the coming time, but at the moment your salary is not coming.
Circular 39/2016 / TT-NHNN recently issued by the State Bank has added many new lending methods in line with reality, amending the content of lending methods to ensure clear distinction. binding between methods.
Specifically, 9 lending methods according to Circular 39/2016 / TT-NHNN include:
Every time you give a loan, the credit institution (CI) and the customer follow the loan procedure and sign a loan agreement.
Is the fact that two or more credit institutions jointly provide loans to customers to implement a loan plan or project.
Credit institutions provide loans to customers to grow and take care of crops and animals of seasonal nature according to the adjacent production cycle in the year, or trees with rootstock, industrial plants with harvest. year.
Accordingly, credit institutions and customers agree that the principal balance of the previous cycle will continue to be used for the next production cycle but must not exceed the period of two consecutive production cycles.
Credit institutions determine and agree with customers a maximum loan balance to be maintained for a certain period of time. Within the lending limit, the credit institution makes a one-time loan. At least once a year, the credit institution shall re-determine the maximum outstanding loan balance and the time to maintain this outstanding balance.
Credit institutions are committed to ensure that they are ready for loans to customers within the agreed contingency loan range. Credit institutions and customers agree on the effective period of the reserve loan limit, but not exceed 01 year.
The credit institution allows the customer to overspend the amount on the customer's checking account a maximum amount of overdraft to perform payment services on the checking account. The maximum overdraft level is maintained for a maximum period of 01 year.
Credit institutions and customers agree to apply loans for capital needs with a business cycle not exceeding 01 (one) month, customers are allowed to use the principal balance of the previous business cycle for the business cycle. business but the loan term does not exceed 03 months.
Credit institutions and customers agree to apply short-term loans to customers with the following conditions:
- By the time of repayment, the customer has the right to repay or extend the repayment period by a certain period for a part or all of the principal balance of the loan.
- Total loan term does not exceed 12 months from the initial disbursement date and does not exceed one business cycle.
- At the time of loan review, customers do not have bad debts at credit institutions.
- In the process of revolving loan, if the customer has bad debt at credit institutions, it is not allowed to extend the loan repayment period as agreed.
9. Other lending methods are combined with 8 lending methods mentioned above, in accordance with the business conditions of the credit institution and the characteristics of the loan.
In addition to the above short-term loans, to meet the increasing needs of customers, many financial companies have supported short-term quick money loans .
Online lending is a popular form of loan and is considered a popular form of loan because of its flexibility, immediate settlement, competitive interest rates, and fast procedures. Problems of personal activities that require urgent money are solved quickly on tools such as Website and loan application .
Long-term loan is a form of loan with term lasting more than 5 years. These are usually loans for the purpose of investing in construction, technical facilities, vehicles, expanding production and business activities for enterprises.
The current long-term loan products in banks are:
● Home loan
● Car loan
● Home loan, home construction
● Business loan
* * Compare short-term loans with long-term loans
The advantage of long-term loans is that the loan period is 4 times longer than that of short-term loans. The large amount of the loan depends on the loan needs and is required to have collateral when borrowing. The interest rates for long-term loans are low and often have preferential interest rates at the beginning.
As for short-term loans, the short period is less than 1 year, the high interest rates are based on the credibility of the borrower. The loan limit depends on the needs of the borrower.
If considering which form to borrow, it is simple that people should rely on their loan purposes to choose. Because for each loan purpose, there will be an appropriate form of loan.
The current interest rates of commercial banks in Vietnam are distributed in the range of 6-12% / year .
The interest rate depends on the credibility of the borrower. If you fully prove your financial ability, collateral or collateral of great value, you will fully receive interest rates of 6-7% / year .
There are two current methods of interest calculation that banks apply:
- Interest based on principal balance: It means the interest rate is calculated on the amount that you originally borrowed for the beginning of the loan period until the end of the loan period.
- Interest based on reducing balance: Interest is calculated based on the amount owed at the bank, interest will be calculated on the amount of debt after each installment period at your bank.
* How to calculate the interest rate based on the principal balance
Interest rate = Loan amount x Loan interest rate / loan period
Example: If you have a short-term loan of 300 million with an interest rate of 7% / year and a loan within 10 months, the interest rate is calculated as follows:
Interest rate = 300,000,000 x 7% / 10 = 2,100,000 VND
* How to calculate interest rate by reducing outstanding balance
First month's interest rate = Loan amount x Monthly interest rate
The monthly interest rate of the following months: outstanding loan amount x Monthly interest rate
With the same example above: Monthly interest rate = 7% / 12 = 0.006% / month, monthly installment payment of 30 million.
Interest paid in the first month = 300,000,000 x 0.006% = 18,000 VND / month
Next month's interest rate = (300 million - 30 million) x 0.006% = 16 200 VND / month
Considering the above example, we see that the method of calculating interest based on reducing balance is much more beneficial than the method of calculating interest based on principal balance, so all consider this issue.
Many people often think that short-term bank loans are simple, but in reality is not quite so. Because if you want to take a short-term loan from a bank, it is imperative that the borrower be reputable enough to meet the repayment ability in a short time. Not to mention, if you are approved for a loan, you have to spend a lot of time waiting and completing the following basic paperwork and procedures.
● Borrower is a Vietnamese citizen aged 18 years or older with full capacity for civil acts
● Have a permanent household registration in the area where the bank branch borrows the loan
● Have collateral or collateral: Valuable papers such as red books, car papers
● Have finance and income, and can afford to repay debts
● Having the right loan purpose according to the loan product
● No bad credit history
There are also a number of other conditions depending on the lending bank, people ask carefully their loan counselors at the bank.
After meeting the loan requirements, people need to prepare the following documents and procedures:
● Personal papers: Original ID card / CCCD card + notarized photo + Household registration book / permanent residence registration paper in the area where you are working and living + Photo of the original household registration
● Loan application form as prescribed by the lending bank
● Financial proofs: Labor contract / Payroll statement
● Security / mortgage papers: Original
● Proof of company business: Business registration license
● Loan plan, papers proving loan purpose
Attach other necessary documents as required by the lending bank.
The term that commercial banks currently apply for short-term loans is from 1 to 12 months . People can choose the term that suits their use and recovery needs.
If personal loans serve the main purpose of living, the maximum is 200 million; while for loans for production and business, it is up to 500 million dong.
According to CashBerry's financial experts, banks will rely on many subjective and objective factors to set short-term interest rates. We can mention some of the following:
● Whether the borrower's financial position is stable or not.
● What are your short-term borrowing needs and purposes.
● The maximum loan limit is more or less and the loan period is long or short.
● The rate of inflation and inflation rate at different times ...
It can be said that short-term borrowing is a very important part of the credit of banks and finance companies. And it is also a great access to capital for customers in need. However, we also need to ensure safety factors when conducting short-term loan contracts, short-term loan accounts to avoid risks causing financial loss in the future.
If you do not want to wait long, do not want to prove your income or loan purpose, and the procedures are cumbersome, you can choose a short-term loan form CashBerry online.
Remember, the choice of the present is the result of the future. It's all about the way you choose. Let us boldly give us new changes, to have a more modern and comfortable life!
Right now, if you want to know more about short-term loans, or other methods of borrowing, please contact us directly (CSKH: 1900638385) for specific advice and support.