Borrow money according to your bank statement It is a form of fast payment same day loan. With many advantages such as simple procedures, conditions, and quick disbursement, many customers have chosen this form of loan. So what are the 5 best lending banks today? Please follow the article.
Apply for a Loan According to Bank Statement
Loan Package Information According to Account Balance
|Loan form||Installment loan according to bank statement|
|Borrowing limit||Min 10 million – Max 100 million|
|Interest rate||From 1.3%/month – 2.5%/month|
|Period||6 months - 24 months.|
|Borrowing age||20 years old - 60 years old|
|Procedures – documents||ID card + Household book + Bank account statement|
|Browsing conditions||Good credit history and frequent withdrawals and transfers at the bank.|
What is a Bank Statement Loan?
Borrowing money according to the bank account statement is a form quick loan during the day. This form is always based on fluctuations in the borrower's account transactions, thereby serving as a basis for loan approval.
Maybe many customers will mistakenly believe that the bank statement is only applicable when loans by salary. However, in that case, the Bank only bases on the salary transferred in a certain day.
Other trading days of the month also affect the financial ability of customers. Thus, a bank statement loan was born.
Advantages of Borrowing Installment According to ATM Account Statement
When borrowing money according to bank statements, customers will receive the following benefits:
- No proof of income is required.
- Customers only need a statement of the last 4 months (suitable for online business, freelance ...)
- Level installment loan up to 45 million.
- Interest rate is only from 2.17%/month.
- Flexible payment period from 6 to 36 months.
- Disbursement takes only 1-3 working days.
- It only takes about 5% when finalizing the loan application.
Unsecured Loan Limit and Interest Rate According to Bank Statement
The maximum loan limit when borrowing money according to the bank account statement is VND 50 million. However, each bank will have different interest rates. You can refer to the star table to choose the right bank:
|Bank name||Interest rate|
|Vpbank||17 – 20%|
|Shinhan||From 9 -12%|
Loan interest rate table according to bank account statement in 2021.
Practical examples: Customers borrow about 10 million within 12 months, interest rate is 2.17%/month. Then the loan has the following costs:
- Insurance amount of the loan: 10 million x 3.25% = 325 thousand. From there, the amount on the contract is 10 million + 325 thousand = 10 million 325 thousand.
- Principal amount to be paid monthly: 10 million 325 thousand / 12 months = 860,417 VND.
- Interest payable per month: 10 million 325 thousand x 2.17% = 224,053 dong.
- So, each month to pay both principal and interest is: 860.417 + 224,053 = 1,084,470 VND.
Thus, the 12 months' interest on the customer's loan is: 1,084,470 x 12 months – 10,325,000 = VND 2,688,640.
Bank Loan Conditions According to Account Statement
To apply for a loan according to the bank account balance, customers need to meet some of the following conditions:
- Customers are in the age group of 20 - 60 years old, have Vietnamese nationality.
- Customers do not have outstanding mortgage loans at banks.
- Use your Bank account for regular transactions.
- No bad debt, debt attention at credit institutions.
- Minimum stable income of 3 million/month.
Consumer Loan Profile According to Bank Account Statement
The bank will appraise by calculating the average balance and then approve the customer's loan limit. Loan documents according to bank account statements include:
- Identity documents such as: Identity card or citizen identification paper.
- Copy or original of household registration book.
- Bank account statement within the last 4 consecutive months, fully stocked with bank notes and hybrids.
- Card photo size 3×4 or 4×6 (depending on the requirements of the lending bank).
Note: Customers should prepare the original documents so that the staff will take pictures and compare.
Loan Process According to Bank Statement
When borrowing money according to bank account statements, customers can register via hotline or register borrow money online and need to prepare according to the following steps:
- Step 1: Customers provide necessary documents according to the above profile.
- Step 2: The bank's credit officer will make the profile and enter it into the bank's system.
- Step 3: Wait for the result of the notification of the loan limit from the credit institution that lends the money.
- Step 4: Disbursement and receive monthly payment schedule.
Top 5 Best Statement Loan Finance Companies
Loans according to bank statements are supported by many financial companies. However, the 3 companies with the best interest rates today are:
Mirae Asset is a Korean financial company with unsecured consumer loan packages that have many advantages such as low interest rates, simple documents, quick disbursement and especially no need for collateral.
Features of the loan package:
- Loan limit from: 10 - 70 million VND.
- Loan package installment period: 12 - 36 months.
- Disbursement time is within: 1-2 working days.
Conditions when borrowing from customers:
- Customers between the ages of 18 and 55.
- Working and living in big cities like Ho Chi Minh, Hanoi, Da Nang...
- No notable debt history, bank bad debt.
- Have a bank account, ATM card and make regular transactions.
- There are currently no loans at Mirae Asset.
Dossier and procedures include the following documents:
- Identification documents: Identity card/citizen identification card.
- Household book/KT3/temporary residence certificate.
- Bank account statements for the last 6 months.
FE Credit As a leading financial company in Vietnam, the company supports installment loan packages with extremely preferential interest rates, simple documents including unsecured loan packages according to bank account statements.
Loan package features:
- The maximum limit is up to: 50 million VND.
- Large term from 12 to 36 months.
- Interest rates from: 1.66% - 2.95%/month.
Conditions of loan:
- Customers are Vietnamese citizens with full legal capacity.
- Age range from 20 to 58 years old.
- Bank accounts with regular transactions.
- The average balance in the account according to the statement is eligible for loans as prescribed.
Loan documents include:
- Types of documents: ID card/CCCD/Passport.
- Household registration book/KT3 at the place of residence.
- Bank account statements for the last 6 months.
MCredit is a financial company with the most impressive growth rate today. The loan package according to the bank account statement at MCredit has the following outstanding advantages:
- No collateral or collateral required.
- Disbursement quickly, after completing the application.
- Simple application, extremely quick procedure.
- Support contract signing and disbursement at Military Bank branches.
At HDBank, you can easily receive a loan according to your ATM account statement up to 45 million. The installment period is up to 36 months, with an interest rate from 1.3 to 2.7%/month.
You can go to stores like: Mobile World, Telecom A, FPT Shop to do the procedures, if you really need money.
SHB Finance, full name is Finance Company Limited Saigon - Hanoi Commercial Joint Stock Bank. SHB Finacne specializes in supporting unsecured loan packages, notably loans according to bank account statements.
- Simple loan conditions
- No collateral needed
- Borrowers can consult and complete loan application procedures completely free of charge, on-site support
- The loan value is quite high
- Loan term up to 36 months
- Can be disbursed within the day
Some Questions When Borrowing Money According to Bank Statements
Is it easy to borrow according to your account balance?
Very easy, customers only need to prepare documents including:
- Account statement for the last 4 months
- Have a household registration
What is the loan interest rate according to the bank statement?
Loan interest rates according to bank account statements range from 2.17% to 2.92%/month.
If I have a loan from another bank, can I still borrow it?
It's still okay as long as you have a complete profile + bank account statement and the outstanding balance is within the allowable limit and the income level meets the debt repayment ability.
Can bad debt borrow according to the account balance statement?
Customers with bad debt will not be supported for loans.
Owning a bank account different from the bank I want to borrow, can I get a loan?
Currently, there are many banks that allow loans according to bank statements, regardless of which bank the account is located. Therefore, customers can feel secure when contacting banks for loans.
Unpaid old debt, can I borrow according to the bank statement?
Credit institutions do not limit the number of loans of customers. However, in order to borrow a new time, customers must meet a number of conditions to limit the risk of the loan, not to be unable to claim capital.
Can foreigners get a loan in this form of account statement?
Currently, the general condition when borrowing a bank statement is a Vietnamese citizen with a legal household registration or KT3. Therefore, not all organizations accept loans to foreigners. And if accepted, the borrower needs to prove the long-term residence time in Vietnam.
Come here, surely you have found yourself 3 banks with the best interest rates when borrow money according to bank statement. Hope it helps you to make the best choice. If you have any questions, please leave a comment and we will answer in detail.
Information edited by: lamchutaichinh.vn