Product detail
This product supports finance individual customers to buy car for demands of individual or doing business
- Lending term: maximum 84 months for consuming and 60 months for doing business
- Method of repayment: fixed principal repayment or installments
- Lending limit: maximum 100% value of car
Benefits
Enjoy flexible and preferential lending interest
Collaterals can be the car generated form loans or other assests
Fast time and convenient, simple procedures
Procedure
Application criteria
- Vietnamese people and foreigners
- Being the owner of the automobile that VRB lends to buy
- Have a stable and regular income, ensure ability to pay loan
- Have full collateral
Required documents
Legal documents
- A verified copy of ID card/passport, permanent household registration book of borrower and spouse if married
- A verified copy of marriage certificate or bachelorhood certificate
- To foreign customers: valid passport, work permit and proof of residency in Vietnam.
Loan & collteral documents
- Lending plan (according to VRB form)
- Documents related to loan purposes such as house purchase contract, certificates of ownership in accordance with the law
- Documents evidencing repayment sources such as statement of 3 months salary/labor contract, renting contract etc.)
- Documents evidencing legal ownership the collaterals
- Other documents
Calculation
Monthly repayment plan
This tool is used for reference
Month | Interest | Monthly repayment | Ending balance |
1 | 1,000,000 | 11,000,000 | 90,000,000 |
2 | 900,000 | 10,900,000 | 80,000,000 |
3 | 800,000 | 10,800,000 | 70,000,000 |
4 | 700,000 | 10,700,000 | 60,000,000 |
5 | 600,000 | 10,600,000 | 50,000,000 |
6 | 500,000 | 10,500,000 | 40,000,000 |
7 | 400,000 | 10,400,000 | 30,000,000 |
8 | 300,000 | 10,300,000 | 20,000,000 |
9 | 200,000 | 10,200,000 | 10,000,000 |
10 | 100,000 | 10,100,000 | 0 |