Today there are many forms of consumer loans from banks or finance companies, customers have many options such as opening credit cards, cash loan or installment loans… However, the current method of calculating interest rates is still is a matter of concern to consumers.
Towards the transparency of loan interests, VietCredit always applies a simple calculation method to help customers understand the loan and take initiative in payment cash flow.
VietCredit’s staff carefully advises customers on how to calculate interest.
Confusion when calculating interest
Many customers who have opened credit cards or purchase installments, said that most of the time when borrowing, customers only care about the limit granted or the monthly payment is suitable for their capacity function or not. The complicated methods of calculating interest make customers not fully understand, even people working in the financial industry are sometimes confused.
In fact, there have been many cases where customers still think that how much debt you pay will pay interest. However, if the borrower fails to pay the total balance at the end of the period before or on the due date, interest will be charged on the entire balance as of the transaction date and on all new transactions, making customers extremely surprised with the actual payable figure.
VietCredit – Simple interest calculation method
VietCredit is a company that provides a quick and simple financial solution via Credit Card – a type of domestic credit card, helping customers “spend first – pay later” conveniently.
Representative of VietCredit said: “The complexity of interest calculation methods makes customers feel confused and needs careful consultation. Understanding this, VietCredit’s consultant team always explains specifically and transparently not only the interest rate but also the calculation method, helping customers understand, proactively pay, and most of all, feel peace of mind with their loan”.
Accordingly, VietCredit Card applies the method of calculating interest on the actual loan amount of the customer, from the day immediately following the withdrawal date and only on the actual number of days of using the loan, helping the borrower not be “ambiguous” with “confusing” temporary payment tables.
For example, a customer is granted a limit of 10 million VND by VietCredit, but only withdraws 5 million VND for consumption in 9 days, the interest rate will be charged on the actual withdrawn amount of 5 million VND. After 9 days since the withdrawal date, the customer pays the withdrawn amount, the interest will only be calculated on 9 days of use.
All customers of VietCredit can completely calculate the exact amount to pay as well as check current balance, available balance … by VietCredit mobile app at any time without having to wait until the statement period.
More offers with VietCredit Card
VietCredit has an interest-free policy within the first 7 days since card activation (vietcredit.vn). This offer is very convenient, suitable for many young people or office workers, can use VietCredit Card as a financial backup plan to meet unplanned expenses on the last days of the month when salary is not about, or may pay for unexpected expenses.
With VietCredit Card, customers are exempt from all fees during the period of use, and easily withdraw cash up to 100% of the limit at more than 15,000 ATMs of banks affiliated with Napas nationwide. Moreover, customers can borrow – pay continuously within the credit limit for 36 months without the need for complicated loan registration or disbursement procedures.
“VietCredit does not apply a penalty fee when customers pay off loans before maturity like many other units. This is also an outstanding flexible point of VietCredit Card, helping customers to reduce the burden of arising costs “, the representative of VietCredit shared more.
With simple procedures, quick disbursement and no mortgage, unsecured consumer loans have helped many people to access loan services at reputable and managed financial companies by the State Bank, thereby avoiding “black credit” activities. However, it should not be because the loan is easy, but customers lack consideration and abuse the loan when it is not really necessary or the loan is beyond payment capacity.