Why have many risks with loans online for customers ?

The current form of the online lending takes place quite popular. But in fact, this kind of potential risks. Accordingly, just download a loan application, enter the basic information about the name, identity card number, amount, term loans, also has no labor contract, proof of income, those in need can easily access loans from 1 million to 30 million. After 5 minutes, the loan had completed less than 1 day, and the money has been transferred to the account. The loan limit on the this site at levels from 1 million-200 million, the loan term from 1 month to 3 years.

Why have many risks with loans online for customers ?

Interest rates are published on the site at the rate of 16% per year. However, if additional fees other related costs such as appraisal fees, loan records first, deferred costs..., interest rates will team up to 25% per year. The experts recommended, consumers need to learn techniques of legal lending unit and content agreed upon in the contract to avoid risk when deciding to lend money. In fact, the lending unit to be registered only under the industry code consulting services, computer programming, construction ... to date, the Bank has not given any permission for the unit would mobilize and loans online. If the risk occurs, the borrower will hardly guarantee their rights.

Financial firms find niche market consumer loans


Consumer loans are becoming more fertile piece of land potential. To compete with the commercial banks, financial companies need to focus on niche markets. Always available to the consumer lending consultancy desk in the shopping centers, or retail stores, customer groups, mostly of financial companies who have lower average incomes and small traders. Because they have no collateral and no proof of income should not meet request loans of commercial banks.

60% of credit borrowers accept loan small dishes is now under 100 million. To avoid bad debt risk, experts recommend that financial companies need to improve assessment processes, at the same time, the transparency information in the loan contract to limit complaints from customers. To the people, the experts emphasized, before put pen signed, the borrower should consider carefully the ability to pay its debt and learn thoroughly about the interest rate, term of the loan, the loan conditions to ensure benefits for yourself.

Consumer loans are also big space to boom


According to research by the Institute of business administration of the University of Economics, consumer lending market in Vietnam is still a very large space to boom in the coming time. PGS. DR. Huang Hai, Director of the Institute of business administration said: "the rate of consumer loans only the equivalent of about 5-10%, total outstanding credit. Meanwhile, underground credit markets like hụi, they still exist and no small amount of attracted some people to join ". Lawyer Zhang Qing Germany stated: "the scale of credit loan pawn can double compared to the official market. Just a street in Hanoi had 30 Hanoi so pawnbroker how many pawn shop?

I believe is outstanding by the pawn of larger financial certainty ". According To TS. Nguyen Thi Thuy Dung, consumer loans in Vietnam are often very flexible, simple procedures, disbursed rapidly; interest rate of 1.49-1.6% per month, even 0%. TS. Ho Chi Dung, Institute of business administration, said that the psychology of today's young population Division has and confidence so they can decide whether to spend more open, ready to serve borrowers to spend. However, according to the survey, the majority of interviewees still keeps the habit rely on relatives to borrow money. Besides that, the Bank is still a source of trust and people are willing to borrow for.

Trust loans-Meet the access to capital for small and medium ENTERPRISES


Trust loan is the loan does not need collateral. Businesses need only prove the line proceeds, to protect the project is to be disbursed. No collateral is the big knot for making small and medium enterprises loan difficulty was the capital of the Bank. Last weekend, Vietnam Chamber of Commerce and industry (VCCI) and the prosperous Vietnam commercial joint stock Bank (VPBank) have co-organized "the business connection" attracted nearly 300 small and medium enterprises involved, in order to provide the solution off the credit line information for business through trust loans. Trust loan is the loan does not need collateral. DN just prove the line proceeds, to protect the project is to be disbursed. About the interest rate, the Bank that can be lowered. The Bank also recommended that businesses need empowering through products and services. This is also a plus point in approving the credit loan package approved for the small and medium enterprises.



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