Are you a student and need money to live and pay tuition fees? So do you know the Vietcombank student loan package yet? The following article will provide you with complete package information borrow money online transfer now such as interest rate, loan limit, loan process. Let’s follow the article below!
Table of Contents
What is Vietcombank student loan?
Vietcombank student loan is a loan package provided by Joint Stock Commercial Bank for Foreign Trade of Vietnam. Aimed at students, students do not have enough conditions to study.
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This loan package is in the form of unsecured loans, customers do not need to mortgage any assets including proof of income. Vietcombank student loans will be based on the reputation of both individual students and students, thereby forming suitable loans.
Who can borrow Vietcombank student loans?
Vietcombank student loan is a relatively new form of loan, but it brings many benefits to students who are studying at colleges and universities with difficult economic conditions. To be registered Borrow money with monthly installments just need ID card to support bad debtyou need to meet all of the following conditions:
- As students, Vietnamese students are aged between 18 -60 years old.
- Have CCCD/ID card, accurate and valid household registration book.
- There is no bad debt at banks and credit institutions.
- The family belongs to the poor, near-poor household or to a family of policymakers.
Current student loan packages
Currently, most banks are applying the form of student loans to support students with secure loans about tuition fees at colleges and universities. Loan packages must be mentioned in detail such as:
- Borrow through Vietcombank credit card within 45 days to pay tuition fees when the family can’t manage. After managing, the customer proceeds to pay the loan, within that 45-day loan period, the customer will not have to pay a fee, including interest.
- Borrowing at a bank for agriculture and rural development, customers need to take credit as the first priority to form a loan, prove their ability to repay the loan when they are still a student with part-time jobs or after graduation.
1. Loan method
Students can choose to borrow through the household method. Go to the village head to apply for a loan, a loan policy will be delivered to your home, then the bank will review it.
Or if your family is in trouble, or you have lost your father or mother or your parents are no longer able to work, you can go directly to the social policy bank to apply for a loan.
2. Loan procedures need to be prepared
Some documents you need to prepare before going to the bank for a loan:
- Loan application form certified and certified by the People’s Committee of the ward/commune.
- CCCD / ID card, copy of household registration book (need to bring the original for comparison)
- Notarized curriculum vitae of students.
- If you are a first-year student, you need an admission notice, and a second-year student or later needs a confirmation signature from the school.
- Other relevant papers such as: identification papers, certificates of poor or near-poor households, certificates of incapacity to work.
Vietcombank student loan application process
The registration process for Vietcombank student loan is very simple and fast. If you meet all of the above loan conditions and procedures, you can completely apply for a loan according to the following process:
- Step 1: Bring the prepared documents to the nearest Vietcombank branch.
- Step 2: Submit application documents and receive loan advice from staff.
- Step 3: Waiting for approval and supplementing documents if they are still missing.
- Step 4: If the application is approved, the bank will contact you to sign the contract.
- Step 5: Sign the contract and the bank will disburse immediately.
Vietcombank student loan registration interest rate
The interest rate of Vietcombank student loans is considered the biggest incentive in student loans. Borrowers only need to pay a very low interest rate, which can be considered interest-free. With the interest rate that the state regulates for this type of loan is 0.5%/month.
The loan repayment period is very long, enabling students to pay off the loan while still in school or after graduation.
Loan limit, term of student loan at Vietcombank
Student loans Vietcombank supports loans with a minimum of 10 million VND and a maximum of 500 million VND. However, the loan limit will not be determined in a specific loan but calculated by month, by semester. The student’s representative or guarantor will be the one to receive the disbursed loan.
For example: On average, you get a loan of 2 million a month, then you will get a loan of 16 million for a school year of 8 months.
The loan term is very long, ranging from 12-60 months. You can pay off the loan by paying monthly, by installments, or you can pay at the end of the year. In case if your economic conditions are not enough, you can proceed to apply for a payment extension within 12 months after graduation.
Advantages of Vietcombank student loans
Vietcombank student loan is a fairly popular form of loan with outstanding advantages that it brings to customers, specifically as follows:
- Borrowing money without collateral or with a stable income, only needs to be students, students studying at colleges, universities or families with difficult circumstances.
- Very low loan interest rate from only 0.5%/month, applied at banks across the country in accordance with the law.
- Simple loan procedures and conditions without the need for personal identification or property appraisal.
- The long-term loan term allows you to make payments while you are still studying or pay when you graduate from school and go to work.
Note when applying for Vietcombank student loan
When applying for a student loan at Vietcombank, you should note the following:
- This type of loan is not always supported. Vietcombank only supports this type of loan for a certain period of time.
- When applying for a loan, students cannot borrow money on their own, but they need a representative or guarantor to register for a loan.
- The person taking out the loan will be responsible for the entire loan.
- If the loan amount is used for the wrong purpose and is discovered, the borrower will have to bear the full responsibility according to the law.
Warning about current student loan situation
Some students are attracted by the form of student loans disguised as “usury”. They offer extremely attractive benefits such as no interest or valuable gifts if you sign up for a loan package.
After signing up for a loan package, they will turn around and threaten you to pay a double loan in a short time.
Therefore, you should be careful with today’s fraudulent tricks, when applying for a loan, you need to ask for transparency and clarity from the terms to the loan contract of both parties.
Hope the above article has helped you to understand the form better Vietcombank student loan. If you are a student or student in difficult circumstances but cannot borrow or borrow from family or friends, this form of loan is the perfect solution to help you solve your financial problems. If you have any other questions, feel free to contact us!
- Website: Nastro.vn
- Founder: Tran Kha Ngan
- Mail: [email protected]
- Phone number: 08273071888
- Address: 76 Le Lai, Ben Nghe Ward, District 1, HCMC