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Financial PlanningHOW MUCH CAN I BORROW?


Loan amount up to 100 million VND, tenor from 12 to 48 months, interest rate at maximum 38% p.a (*)

No collateral – No guarantor – No consultancy fee – No accessing fee

Example: With the loan amount at 60 million VND, 12-month tenor, interest rate at 18% p.a, equated monthly installment is 5,500,800 VND (*)

Experience our loan calculator now or APPLY ONLINE for more details.

(*) Information is for reference, subject to each applicant’s status.

Estimated loan amount (Million VND)
Loan Tenure (Months)
Minimum interest rate (%/year)

Equated monthly installment (VND)900

1. Required infomation**

Source of monthly income

2. Optional infomation

Financial KnowledgeFinancial Knowledge

Making a plan to manage your payments and balances is crucial. Take a look at these tips and discover some small steps you can take today to make debt management easier.

1. Make your repayment full and on time each month

Late repayments make it harder to pay off your debt since you’ll have to pay late payment interest. Miss two payments in a row and your interest rate and finance charges will increase.
If you use a calendaring system on your computer or smartphone, enter your payments there and set an alert to remind you several days before your payment is due. If you miss a payment, don’t wait until the next due date to send your payment, by then it could be impacted to your credit history. Instead, send your payment as soon as you remember to.
The best practice of FULL AND ON -TIME monthly repayment will prevent you from bad credit history and gain trust from financial firms in the future.
In case due date for repayment falls on Public holiday/saturday/ Sunday, you are strongly recommended to make it payable on 2 - 3 days earlier to due date.

2. Create a monthly repayment calendar.

Use a bill payment calendar to help you figure out which bills to pay with which paycheck. On your calendar, write each bill’s payment amount next to the due date. Then, fill in the date of each paycheck. If you get paid on the same days every month, like the 1st, 5th, and 10th, you can use the same calendar from month to month.
It’s also important to remind yourself to make sure you are aware of the monthly due-date 2 working days ahead. Repayment should be made at the earliest. Early payment can improve your credit.
There are various flexible repayment channel for you to experience:
o Automatic debit repayment
o Online payment via bank transaction
o Payment at ATM
o Cash deposit at post office, banks, Payoo, MoMo
o Smart card such as Banknet/Smartlink

1) Unsecured Loan: A loan is given without any asset deposited or any guarantee conditions. You have to pay monthly installments. Unsecured loan amount can be up to VND 100 million (applied at Shinhan Finance) for consumption purpose or living needs.

2) Secured Loan: A loan is given on the basis of security of your any asset. If you cannot pay, bank or financial company has right to sell the asset and recover their bad debt. Either you can give the registry of your building or you can give any other fixed asset.

Interest rate is directly proportional to risk level that is different between Unsecured Loan and Secured Loan.
Unsecured Loan is given without any asset security or any guarantee conditions resulting in high interest rate due to high risk level.

For Secured Loan, risk level is relatively low as borrowers need to have assets to secure the loan hence interest rate is much lower than that of Unsecured Loan.

Why are there different interest rates applied to different groups of customers of Unsecured Loan?
Basing on portfolio management and analysis, financial companies apply different interest rates to different groups of customers. This practice keeps interest rates being directly proportional to risk levels but still competitive to those of other lenders.

A has a stable job earning good income and lives in his own house.
B has just 2 years of work experience getting low income and lives in a rental house.
When applying for a loan, A could get the better (lower) interest rate than that of B because the lender would assess that the repayment capability of A is better and the risk level of A is also lower than those of B.

1) Understanding the interest rate:

Fixed interest rate and effective interest rate are two common kinds of interest rate being applied for unsecured loans.
Fixed interest rate remains constant for the duration of the agreement meanwhile effective interest rate is applied on the reducing outstanding principal, hence interest amount is reducing over time.
Shinhan Finance is applying effective interest rate for unsecured loans.
Besides the above-mentioned kinds of interest rate, there is also floating interest rate that can be adjusted periodically. Rate adjustments and date of adjustments agreed by and between the borrower and the lender are clearly stated in the loan agreement. To attract more borrowers, lenders might offer various preferential loan programs with attractive interest rates in first few months. After that, floating interest rate will be applied; hence loan applicants should carefully study terms and conditions of promotional programs.

2) Checking repayment capability: To avoid repayment defaults, before applying for a loan, one should carefully verify monthly income and expenditure. Total monthly repayment should take the maximum of 30-40% of total monthly income; otherwise, one would be getting new loan to pay for old debt.

3) Selecting the suitable loan tenor: Depending on personal income and loan amount, borrower should consider taking the most suitable loan tenor. Longer tenor may help reduce monthly repayment amount for borrowers of low income.

4) Being aware of late payment penalty and foreclosure fee: Before signing loan agreement, loan applicant should carefully read and understand all of terms and conditions as well as should be aware of specific penalty fees in terms of late payment or foreclosure.

- Be cautious of using public computer and should use personal computer for banking transactions.

- Type "https://" before bank's website to ensure that your transaction is in a secured session.

- Do not click any links in spam emails.

- Do not disclose your account's information (username, password, debit/credit card’s numbers, CVC code, PIN) with anyone.

- If you have any suspicion that your banking account is disclosed under any circumstances, contact your bank immediately.

CIC stands for Credit Information Center, a government-owned and controlled corporation reports to the State Bank of Vietnam. With adequate and proper collection, filing, forecasting and submission of credit information, CIC was established for the smooth development of consumer credit, and plays an important role to support the State Bank of Vietnam in national credit management.

Collecting, storing, providing personal credit information related to consumer credit transactions, and disclosure to consumers is what CIC offers.

How to prevent bad credit?
If you want to be sure your credit report is pristine and your debt is manageable, follow these tips to avoid bad credit and maintain a flawless credit score: double check if you could pay off your bills each month. It’s best to use 50 percent or less of your available monthly income. Follow up and pay your bills on time. Pay bills in full.

1. Financial planning is the process of setting financial goals and turning it to prioritized needs in life and applies for every family and individual.

2. What you can earn from financial planning is:
To control your money logically and strategically
To overcome financial risks
To invest in potential projects and earn more money
To protect yourself and family from emergency needs
To ensure stable finance for your retirement and children’s education

3. How to set financial planning:
To set financial goals
To note down your daily expenses and compare with salary/income
To adjust your spending by indentifying percentage of each expense and earning
To review and monitor everyday to keep track of your history spending

1) Mortgage payments or any relative cost: should not exceed 29% of total monthly income.

2) Debt payment including vehicle rent, credit card payment, education fee and pension: should not exceed 36% of your income.

3) Transportation: should not exceed 7% of total income.

4) Vehicle maintenance: you should take into consideration if maintenance fee is higher than 50% of vehicle’s value.

5) Holiday gift: should not exceed than 1.5% of annual income.

6) Life insurance: The breadwinner may consider provision of life insurance equal to 6 to 10 times of income plus the cost of such mortgage debt, consumer debt.

7) The net asset: is the highest measurement standard for financial success. The net asset is the subtraction of all of your properties from money you earn and it is ideal when your net asset is equal to multiplication of your age and income before taxes.

- Opening a saving account just for traveling expense
- Avoiding traveling on peak season
- Preparing a detailed traveling plan
- Searching for low fare air ticket
- Identifying daily expense
- Bringing luggage as less as possible
- Selecting affordable accommodation
- Reserving food and beverage for your trip
- Taking advantage of public transportation
- Exploiting your relationship of every destination such as advices for cheap accommodation, convenient transportation, weather, places of entertainment, …

1) Financial agreement: Couple should be open to all issues related to financial status and do not hesitate to discuss any difficulties and solutions together.

2) Sincere sharing of their spending habit: Couple should listen wholeheartedly to bad spending habits and should conclude a better spending plan.

Ways to merge your money: a consolidation income is from both of wife and husband on a co-management and co-setting financial goals. It is important to choose who directly manages the mutual fund.

Role and responsibility: Couples should define who will be mainly in charge of money management and who will take part in decision-making, budgeting and bill-paying.

1) Pregnancy care and childbirth: You should be aware of costly health care check fees during pregnancy as well as the delivering baby fee. However, you can take into consideration of health insurance which can help you save more.

2) Clothes and medical cost for mother: Being a mom, you changes physically and mentally which results in clothes and shoes changing. Moreover, nutrition regimen and medical therapies are also one of highest priorities.

3) Clothes and items for baby: If this is your first child, you need to prepare from A to Z such as clothes, hand socks, diapers, milk bottles. However, you can borrow from relatives or friends and reuse for next child in future.

4) Cost of formula feeding: You need to plan for long-term financial capacity for milk and food of your child. Take advantage of promotions and check price check of other brands in order to provide the best milk quality but also maintain stable expenditure.

5) Reservation for emergency and illness

6) Other expenses during maternity leave

1. Check out airfare daily
When in doubt, booking earlier is safer. Airfare is often changed day after day so you need to update it everyday to get the best deal.

2. Be flexible for date and location
Airfare sales tend to occur at new or low-seasons for travel. Price Increases tend to occur at the end of the week as well, so you should not buy flight tickets at that times. It’s supposed to be better to buy cheap flights by night.

3. Get your personal information avaialble
Best airfare offers are often limited to access and launched by night. First come first served. So be ready to submit your personal information such as your name, ID number, passport etc as quick aspossible.

4. Be selective for “Nice to have” services automatically suggested by airlines
Extra fee can be charged for food, seating options, belongings and flight insurance which are automatically added from the beginning. You should double check and remove some of them to save cost.

5. Manage your excess baggage fee
Weigh your luggage before you leave home. Some of us get to the airport to find we're over our baggage limit and end up paying puffed up charges. Avoid this by weighing your bag before you leave home and take out any unnecessary items if you find you're over the limit.
In case you travel in groups, its better not rely on someone for the whole team’s excess baggages to avoid any troubles related to their flight cancellation at the last minutes. Manage your excess baggages charges by your own.

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