Hi, are you looking to borrow according to your electricity bill ? You wonder if how much electricity bill allows you to borrow & borrow a lot? Besides, there are some questions that you want to know when you need to borrow money with electricity bills such as
Hi, are you looking to borrow according to your electricity bill ? You wonder if how much electricity bill allows you to borrow & borrow a lot? Besides, there are some questions that you want to know when you need to borrow money with electricity bills such as:
● Is it possible to borrow money on unrighteous electricity bills?
● The best interest rate bank lending by electricity bill?
● What are the conditions, application documents and loan procedures? How fast is it easy?
● Can other bills instead of electricity bills such as water, internet ... be borrowed?
Rest assured, because all your questions about borrowing money with electricity bills will be answered by CashBerry in this article!
Just have a monthly electricity bill of 250,000 VND or more, you can easily get a maximum loan of up to 60 million VND, the highest loan term is 36 months, preferential interest rates from 1.66%, many levels flexible for you to choose from.
In addition, CashBerry also gives you a few tips before and after unsecured electricity bills to help you get the most benefits.
Maybe many people still do not know that electricity bills can be used to get loans easily. In order to meet the increasing demand for loans, many banks and financial units are now expanding to lend money with electricity bills.
Borrowing money on electricity bills is a form of unsecured loan. That is, the lenders will rely on the amount of electricity you use each month to grant a credit limit for the loan amount. The electricity bill or you can know with a few other methods such as electricity bill, bill of bill, bill of electricity, ...
When you need money urgently to spend, pay for your life without a mortgage, you can completely think of a loan package with electricity bills. Borrowing money with electricity bills will provide you with convenience and an additional opportunity to access safe, legal and efficient capital.
The loan terms under the electricity bill are quite simple. As long as you are the person on the monthly electricity bill, you can own a loan of up to 60 million. Some units even support loans with unrighteous electricity bills, which do not require the borrower to be the head of the household.
Many people wonder: why do not need a mortgage, do not prove income, can only borrow money with an electricity bill?
There are many ways for the bank to know your income such as:
● Payroll by transfer
● Life insurance policy
● Pension book
● One of which is using monthly electricity, water and Internet bills.
Why electricity, water and internet bills can be used for loans, that is because:
● Invoices with certain criteria
● Family bill showing current standard of living
● Through electricity, water and internet bills, it is possible to accurately verify the address where everyone is and is currently living
- The loan interest rate is based on flexible and preferential electricity bills.
- High loan amount, up to VND 60 million (depending on each place), usually the maximum loan limit of 40 times the monthly bill value.
- No need to mortgage collaterals (real assets) and no need for guarantors.
- Only require minimum average value of electricity bill in the last 3 months from 250,000 VND.
- Flexible loan period from 6 to 36 months depending on need (customers can choose 6 months, 9 months, 12 months, 36 months).
- Quick procedure, on-site consultation (depending on the credit institution), simple loan application.
- There is NO fee for processing records.
- Quick disbursement within 1-3 days after the application is approved.
- It is limited if you need a large loan of over 60 million VND, especially a business loan.
- Depending on the size of your electricity bill, you will be granted a corresponding limit, with the minimum case (electricity bill of 250,000 VND) you can only borrow up to 15 million.
- Some banks or financial institutions have not yet implemented this loan package.
Interest rates applied to customers who borrow money from banks on electricity bills are at a highly competitive level, ranging from 1.66 to 2.95% / month based on decreasing outstanding loans.
The loan interest calculation formula is determined as follows:
- First month's interest = Loan amount * Monthly interest rate
- Monthly principal = Loan amount / Number of months borrowed
- Interest in the following months = Principal remaining amount * Interest rate
By the next month, your principal amount is subtracted from the months you borrowed earlier. The interest payable by the customer is calculated on the remaining principal.
Depending on your family's monthly electricity bill, there are different interest rates, loan limits and loan terms. Basically, the bigger the electricity bill, the lower the interest rate and the longer and more allowed loans.
Of course, it depends on the different banks and lenders. However, the difference is not too much, below is the average that almost applies.
250,000 - 500,000 VND
500,000 - 1 million VND
Over 1 million VND
10 - 20 million
10 - 30 million
10 - 60 million
Monthly interest rate
6 - 24 months
6 - 36 months
6 - 36 months
This is just a reference information sheet, you can use it to make a rough estimate for your loan. To know the exact number for each bank, finance company that supports a loan under the electricity bill, you should contact the lender for specific advice.
Thanks to the remarkable development of the consumer credit market, banks and finance companies have launched many new loan products to serve the needs of the people. Borrowing on electricity bills is one of the loan packages with strong emphasis. Below are the creditors on the electricity bill, you can refer.
Currently, Tima supports unsecured loan packages according to electricity and water bills, loans up to 50 million, loan term up to 36 months. The advantage of this loan package at Tima is the transparent contract - secure the loan - disbursement during the day. You can use your electricity bill, or your water bill, or both to get a higher loan approval.
Mcredit is the abbreviation of MB Shinsei Finance Company Limited (Japan). Mcredit was previously established with 100% charter capital owned by Military Commercial Joint Stock Bank (MB).
● Fast online registration and complete application within 60 minutes. Review applications and disburse up to 3 days.
● Optional cash loan from 10 - 70 million. Loan period from 6 - 36 months.
To borrow at Mcredit, you only need to meet one of the following conditions: payroll (over 3 million / month), electricity bill, life insurance policy over 1 year, business for 3 months or more, talented Bank account over 6 months, have health insurance card, receive salary through MB account, used to borrow at Mcredit.
In addition, some other banks and financial companies also have electricity bill loan packages with incentives that you can learn more about:
● Vietnam Prosperity Bank (VPBank)
● Mirae Asset Finance (MAFC)
● Credit institution FE Credit (under VPBank)
● Other banks: Vietcombank, Agribank, BIDV, MBBank, ...
● Other finance companies: SHB Finance, ...
Here are some of the most basic general requirements that you need to meet in order to apply for a loan with an electricity bill:
● Vietnamese citizen, aged 20 - 60 years old.
● Household registration in any Province / City nationwide.
● Customer is named on the bill and currently lives at the address on the electricity bill.
● Invoices pay at least 250 thousand / month, require customers to provide 3 most recent invoices.
● It could be a husband or wife in the household registration book. If you are listed in the household registration book but not in your name, you can go to the electricity unit to change your name. If you are living in a homestay you can still get a loan by providing internet bills or proof of your current residence.
In addition, depending on each bank or finance company, there are some other requirements.
You need to prepare the following basic documents to get the fastest loan:
● Copy of ID card
● A copy of the 16-page complete household registration book
● 1 3 × 4 size card image
● 3 electricity bills for the last 3 months. If you lose or lack an invoice, you can provide a coupon for any given month for staff to check on the system of the utility.
Note: You must provide the original for comparison with the photo provided when making loan application.
In addition, if the address you live in does not match the address on the household registration book, you will need to provide one of the following documents:
● Certificate of temporary residence registration or temporary residence card or temporary residence book (certified by the ward police).
● The utility bill for the last 2 months is in the name of the customer in the place where they live.
● Other documents proving where the customer is located.
When borrowing on an electricity bill, the address on the invoice must match the home address and the address on the invoice must clearly show the name of the commune, ward, district or district. This is important when applying for unsecured loans as it will affect the application process.
To solve this problem, you need to bring the electricity bill to the correct addressing power company. In case you lose this document, you need to go to the electricity company to get the certificate again. The bill must be a household electricity bill, not a business electricity bill.
First of all, you need to make sure you satisfy all of the conditions above. Then prepare all the documents and documents as listed above, and then follow the procedure below.
To get the fastest electricity bill loan, refer to the following general procedure (most banks do):
● Step 1: Submit a loan application according to the electricity bill.
● Step 2: Fill in information and provide loan registration documents.
● Step 3: Credit officer provides assistance and instructions to complete the application.
● Step 4: Waiting for appraisal and approval from the bank.
● Step 5: Disbursement (if the loan is approved successfully).
Currently, a number of units will implement registration forms and fill out profile information as well as online approval. You can learn more.
If you already know the process of borrowing according to the electricity bill, please return to the introduction of reputable lenders and choose the appropriate address to register!
In addition to the form of a loan under electricity bills, you can also apply for a loan with many other types of bills as follows:
● Water bill
● Internet invoices: Viettel, FPT, ...
● Cable TV bills: SCTV, HTVC, ...
● Purchase invoices: Thegioididong, FPT Shop, ...
● Postpaid phone bills (mobile phones): Mobi, Vina, ...
Normally, if banks have loan products under electricity bills, they will support loans according to the above types of bills. In particular, if you combine multiple types of bills, you may increase your credit limit. Now you can borrow more, for a longer period of time and with better interest rates.
- When taking unsecured loans according to the electricity bill, the home address on the invoice must match the current home address and clearly state the commune, ward, district or city.
- Electricity bills must be domestic electricity bills, do not accept business bills.
- If the customer wants to take a consumer loan according to the electricity bill but does not have his name on the bill, he / she must go to the power company to wait for the last month to provide the latest electricity bill and receive loan assistance.
In addition, this is a loan with easy terms, so the interest rate for unsecured loans is quite high. Therefore, you need to consider carefully before deciding whether to borrow or not.
It can be said that when borrowing for unsecured consumer loans whether it is according to electricity bills or other bills, there is a risk for the borrower if not carefully calculated. So how to most effectively limit risks?
How to limit the risk of unsecured consumer loans according to effective electricity bills:
Borrowers should keep some of the following contents for themselves to protect their interests when in need of a loan.
Review and choose a reputable and highly reliable loan service company or organization. It is possible to consult information on the internet, consult friends and relatives to see whether the consumer community's assessment of the reputation and services provided by the company are really safe or not.
Focus on listening carefully to the counselor if questions or answers may require explanation and repetition. Pay special attention to the terms of the contract regarding interest rates, payment terms and repayment methods, and how to calculate penalties.
When providing your personal information and that of others to service providers, it is also better to be careful and careful.
If there are additional problems or questions, borrowers should actively contact the hotline of financial companies, banks, and unsecured consumer lending institutions on their contracts.
Report directly to a third party (consumer protection associations, competition administration departments or the local Department of Industry and Trade) for timely advice and support if the case reflects, contact the problems have not been resolved or clarified.
From the contract, guidance documents provided by the finance company to payment invoices and other related documents so that evidence of the borrower's performance must be kept all.
The principle of most financial institutions is that after signing a unsecured loan agreement, a loan under an electricity bill, the consultant or the company will provide a valid copy of the contract. signed.
Consumer unsecured loans under electricity bills do not need a mortgage or proof of income but require customers to prepare documents, paperwork, long disbursement time (maximum 3 days). Therefore, compared with online loans with ID / CCCD, the loan package according to electricity bills is somewhat slower.
Easiest online quick loan product - just need ID. In addition, this form of loan does not require any collateral, nor does it require third party guarantees or proof of income. This helps customers who are not paid to work yet can access capital quickly. Therefore, today, most customers choose to quickly borrow money online with their ID card as a quick, compact, yet highly effective way to access capital.
The above is all the necessary information on how to get a loan with the fastest invoice with a high limit, up to 60 million VND. Besides, if you need a fast loan, receive money during the day, you can still get money without meeting, please contact CashBerry . CashBerry - professional, fast and effective online financial consulting and support service.