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It's time to pay tuition fees for your child, rent, or cover living expenses but you don't know how to come up with a significant amount of money, around tens of millions of dong? Just visit Avay.vn with a few clicks, you can borrow a large amount of money up to nearly 80 million dong.
Is Avay a scam? Avay's loan interest rates.
What is Avay?.
How are the interest rates calculated for borrowing money from Avay for 1 month?.
Should you borrow money from Avay?
What is Avay?
Being one of many organizations facilitating unsecured loans, Avay is sought after by many individuals. Avay quickly reaches out to many customers in need of urgent loans, ranging from a few months to several years.
AVAY is a product of Trusting Social LLC - providing services for cash loans in the form of unsecured loans, monthly installments, and without requiring collateral.
Simply access the Avay.vn website, complete the registration information (Basic personal information, Household registration, Driver's license or income verification documents...) to submit your application to the system. Within 1 day, your application will be approved and a consultant will call to assist you in completing the procedures for borrowing.
If your application is accepted, you will receive the approved amount within 3-5 days. Otherwise, Avay will also help you submit new notifications about future loans.
Avay's loan packages are provided by reputable financial companies, banks in Vietnam, including VPBank, TPBank, OCB, SHB, HomeCredit, Mcredit, FE Credit, Lotte, Mirae Asset... with approval amounts up to 80 million dong.
Loan registration form at Avay
How are the interest rates calculated for borrowing money from Avay for 1 month?
The answer is quite simple. When borrowing money from Avay, borrowers will not have to pay any fees other than interest. Additionally, Avay's interest rates are calculated on a reducing balance basis and are lower than fixed interest rates based on the initial balance.
When borrowing money from Avay, you will enjoy attractive interest rates of 2.33% - 5% per month depending on the amount borrowed, loan term, or based on your credit profile. At Avay, borrowers have flexible loan terms ranging from 12 to 36 months from leading banks and financial companies with credit limits ranging from 10 to 80 million dong.
All loans at AVAY have clear information about interest rates, specific monthly interest rate tables, and are provided by reputable financial institutions in Vietnam. Borrowers can log in to the system to check and monitor their loans. Moreover, borrowers will not incur any advisory or service fees when borrowing from Avay.
Illustration of calculating Avay loan interest for 1 month, 2 months
With this illustrated example, we can understand as follows:
The amount to borrow is 40,000,000 VND over 24 months with an interest rate of 3.71% per month.
In the first month, you will have to pay: principal amount of 2,545,721 VND + interest of 3.71% calculated on 40,000,000 VND, which is 1,483,333 VND. Thus, in the second month, the principal amount to be paid remains at 2,545,721 VND, and the interest will be calculated on the remaining amount of 38,937,612 VND = 1,443,936 VND.
Similarly, by the second and third months, your interest amount will gradually decrease as you repay the principal amount monthly. This interest amount will continue to decrease until you fully repay the principal.
Should you borrow money from Avay?
Compared to other financial institutions, the interest rates at Avay are quite 'manageable', so when in need of money and unable to manage, you may consider borrowing here. However, you should also carefully consider before borrowing because Avay will require you to provide quite a lot of personal information and related documents (a good credit profile will result in a high loan amount, preferential interest rates). And this information also has the possibility of leakage or unauthorized use.
At the same time, you should consider the earliest possible repayment plan, not accepting loans that are too large with high interest rates, especially carefully read the terms of the loan contract, monthly interest rate tables to balance a reasonable repayment plan.
With the method of calculating Avay loan interest for 1 month as above, we hope that you will have financial options and make the right decisions in choosing a financial institution for your necessary loan.
In addition to the loan interest at Avay, you can also update loan interest at Vay nhanh to make choices for reputable financial institutions with low interest rates, preferential, meeting your needs.
If you want to save money for your idle funds, you can deposit savings at banks such as techombank, Vietcombank, BIDV, VietinBank ... However, the interest rates for savings deposits of each bank vary, adjusted monthly. You can update bank interest rates to know the highest bank interest rates, thereby making appropriate choices.
