You receive a salary by the day, by the week, want to borrow money to contribute weekly to solve difficulties? What are the loan conditions, methods and interest rates? Please read to find out.
In order to solve urgent financial difficulties, people's demand for weekly loans is increasing, especially in big cities like Ho Chi Minh, Hanoi, and Da Nang. Therefore, in order to help people better understand about weekly installment loans , CashBerry has compiled and provided information on conditions, interest rates, and ways of borrowing this form.
Weekly installment loan is a form of fast loan, receive money on the same day and the payment term is 7 days from the date of receiving the loan. When choosing this type of payment, borrowers can get an unsecured loan (unsecured) or mortgage (secured) . Documents and procedures are simple and easy, suitable for customers who need urgent loans in a short time.
The weekly hot loan is usually suitable for customers who need urgent financial settlement. As long as you are over 18 years old, have a stable income or have a mortgage, you can get a weekly installment loan.
● Borrowers have easy access to capital
● Borrowers can quickly solve their financial difficulties
● Simple procedure, fast disbursement within the day
● Large loan limit, up to several tens of millions of dong
● Borrowers can easily balance their finances
● Interest rates are usually quite high compared to conventional loans
● Risks and troubles may occur if the borrower cannot choose a reputable credit unit.
● Those who do not have collateral, cannot prove their income or do not have a labor contract
● Enterprises, companies, business households, small traders, and small independent traders without business licenses
● Fresh graduates without a job
● Customers with bad debts, rejected at banks, other financial institutions
● From 5 million to 500 million
● If customers can prove their income and have valuable collateral, they can borrow from VND 1 billion to VND 3 billion
● Quick disbursement within the day
● Conditions: Being an employee working in an agency, company or enterprise with a minimum fixed salary of 3 million VND/month
● Loan period: From 6 to 36 months
● Loan limit: Up to 12 months salary
● Conditions: Be the owner in the name of the insurance policy
● Minimum premium 2 million/year
● Insurance contract over 1 year from the date of signing
● Conditions: Be the person in the name of the electricity bill
● Electricity bill to pay at least 300,000 VND/month
Unlike other forms of loans at banks that require collateral and income to ensure repayment, the form of quick loans with weekly installments has conditions and the loan procedure is simpler.
Normally, the units that lend money for weekly installments only require ID card (of citizen age). Lenders and borrowers will mutually agree on loans, interest rates, and time without being bound by any other organization.
You need to prepare some of the following documents to apply for a loan package:
● Original or photocopy of household registration book, ID card
● Loan application form (according to the available form)
● Photo 3x4 cm
● Customer documents according to the loan package such as: Insurance contract, electricity bill, payroll, ...
The interest rate when borrowing money for weekly installments will depend on the loan amount of the customer as well as the payment method that the customer chooses. Depending on the organization and individual lending, there is a certain interest rate.
However, the interest rate will usually be 2-5 times higher than the normal rate, which is about 50%-75% annually . The specific interest rate is still completely dependent on the agreement between the two parties, not fixed.
● Step 1: Register for a loan package and provide personal information (full name, phone number, address, loan amount, loan purpose, ...)
● Step 2: The staff will contact the consultant and discuss directly with the customer
● Step 3: Reviewing loan documents
● Step 4: Disburse if the application is approved
Weekly installment loan is a form of quick loan, urgent loan within the day. Although not bound in terms of papers and collateral, the weekly interest rate for loans in organizations and individuals is very high. Not to mention, if you fall into bad credit, you will have to bear huge consequences.
Parental interest, high loan fees make you insolvent, fall into debt and suffer persecution from the debt collection department. Life is always stressful, difficult, miserable. That is what you will probably have to go through if you choose a weekly loan from scam addresses.
Therefore, if you want to get money quickly, you should find another form of loan that is safer, more transparent about interest, that is to borrow money online with ID card/CCCD at CashBerry . This is the simplest and fastest way to get an unsecured consumer loan on the market today.
Just visit cashberry.vn or download the CashBerry app on CH Play, you can apply for a loan right on your phone, receive money and pay by ATM card easily.
No need to meet, no collateral, no proof of income, with the quick online loan package, you can get up to 10 million VND.
Above is information about the form of weekly installment loans, through which you can consider deciding whether to choose or not? In addition to this loan, there are many other better ways to borrow money, and borrowing money online by ID card is a smarter choice.