- Maximum loan amount up to 400 million VND
- Loan term up to 36 months
- Flexible loans based on initial or decreasing balance
If you are looking to apply for a Techcombank unsecured loan but are unsure where to start, follow this guide by BankTop for a quick and easy application process at Techcombank with low-interest rates.
Overview of Techcombank
Established in 1993 with its headquarters in Hanoi, Techcombank is one of Vietnam’s largest joint-stock commercial banks and a leading bank in Asia. As of now, Techcombank has over 11,000 employees working across more than 315 branches nationwide.
Some of Techcombank’s Achievements in 2023:
- Award for Most Innovative Banking Products and Services
- Best Digital Bank in Vietnam 2023
- Celent Model Wealth Manager Award
- Best Customer Engagement Bank in Asia
- Best Private Retail Bank in Vietnam
- Best Digital Banking Model in Asia-Pacific and Vietnam
- Best Cloud Transformation Bank in Asia-Pacific
- Best Retail Bank in Vietnam
What is Techcombank Unsecured Loan?
Techcombank unsecured loan is a form of installment loan that does not require collateral or a guarantee. Customers only need to prove their income, and the bank will approve the loan based on the customer’s credit history and repayment ability.
Current Unsecured Loan Options at Techcombank:
- Unsecured Consumer Loans
- Overdrafts without Collateral F2
- Unsecured Loans for Tuition Fees
Evaluating Techcombank Unsecured Loan Packages
Advantages: Techcombank is a leading joint-stock commercial bank in Vietnam. All products and services provided by Techcombank are highly rated, including unsecured loans due to their various benefits:
- Nationwide customer support.
- 24/7 fast loan procedures, no collateral needed.
- Loan amounts up to 700 million VND, up to 18 times the income.
- Flexible loan terms from 6 to 36 months.
- Preferential interest rates calculated on decreasing balance.
- Quick disbursement after loan approval.
- Customers receive free “Consumer Protection Insurance” from Prevoir Vietnam Life Insurance Company upon loan approval.
Disadvantages: Some limitations of Techcombank’s unsecured loan packages include:
- No support for customers with bad debt or under watch at other financial institutions.
- Minimum monthly income requirement for loan application.
- Only supports customers living and working in areas with Techcombank branches.
- Full documentation required for loan approval.
Types of Techcombank Unsecured Loans
Unsecured Consumer Loans
Currently, Techcombank offers unsecured consumer loans without collateral, providing a quick and convenient borrowing method to meet various spending needs of salaried customers.
Features:
- Borrow up to 10 times, not exceeding 300 million VND.
- Loan term from 6 months to 60 months.
- Free “Consumer Protection Insurance” from Prevoir Vietnam Life Insurance Company.
- Borrower must declare normal health, and the insurance contract will be effective upon disbursement.
- Interest rate of 18.64% per year based on actual outstanding balance.
Overdrafts without Collateral F2
Understanding the busy life with numerous business and investment plans and unexpected financial needs, Techcombank offers overdrafts without collateral to support short-term capital needs quickly.
Conditions for F2 Limit Approval:
- Open a first-time payment account at Techcombank.
- Maintain a minimum balance of 10 million VND in the payment account for 3 consecutive months.
The granted limit will depend on meeting the conditions and the maintained balance in the payment account.
Unsecured Loans for Tuition Fees
For those who wish to further their education through online English training courses by Topica but face financial constraints, Techcombank offers unsecured loans for tuition fees to support your future success. The loan amount can be up to the value of the course fee.
Features:
- Borrow up to the full tuition fee.
- Loan term: 12 months to 48 months.
- Free “Consumer Protection Insurance” from Prevoir Vietnam Life Insurance Company with the condition that the borrower must declare normal health, and the insurance contract will be effective upon disbursement.
- Interest rate from 18.64% per year, calculated on a decreasing balance.
Conditions for Techcombank Unsecured Loans
Depending on the loan package chosen, Techcombank will set specific conditions. However, customers must meet some general conditions such as:
- Working at state-owned enterprises, private companies, or foreign companies with stable income.
- Minimum salary of 5 million VND per month.
- Age between 20 and 60 years (at the time of contract signing).
- Employed at the company for over a year.
- Permanent residence/KT3 at the address registered for the loan.
- Additional conditions as per Techcombank regulations.
Documentation and Procedures for Techcombank Unsecured Loans
Required Documentation:
- Loan application and repayment plan form provided by Techcombank.
- Valid ID/CCCD/Passport.
- Temporary residence permit/household registration/KT3 at the borrower’s current residence.
- Employment contract, salary statement, and documents proving income and work tenure.
- Additional documents as required by Techcombank (if any).
Quick Guide to Applying for a Techcombank Unsecured Loan
Applying for a Techcombank unsecured loan is quite simple by following these steps:
- Step 1: Register for a Techcombank unsecured loan in one of two ways: Visit the nearest Techcombank branch or register on the Techcombank website.
- Step 2: Prepare the necessary documents as guided by the advisor and submit them to the nearest Techcombank branch during business hours.
- Step 3: The bank will review the documents, analyze, and decide after receiving the customer’s documents as per the required regulations.
- Step 4: The advisor will report the assessment for approval, and the documents will be submitted to the higher level for approval.
- Step 5: After approval, Techcombank will disburse the loan to the customer via bank transfer or cash.
- Step 6: The customer is responsible for repaying the loan as per the terms stated in the contract.
Tips for High Approval Rates on Techcombank Unsecured Loans
Some Tips:
- Ensure you are within the supported customer group by Techcombank, meaning you are a Vietnamese citizen residing in Vietnam, aged 20-60, with a stable job and a labor contract of over 12 months, and not in bad debt at other banks or financial institutions.
- Being an active customer of Techcombank with frequent transactions and maintaining idle money for at least 30 days.
- Prepare all related documents in advance, such as salary slips, labor contract, transaction statements, etc., properly stamped and sealed as per regulations.
Techcombank Unsecured Loan Interest Rates
Interest Rates:
- Unsecured consumer loans: From 18% per year.
- Overdrafts without collateral F2: From 13.78% per year.
- Unsecured loans for tuition fees: From 18% per year.
The unsecured loan interest rates at Techcombank are considered favorable and competitive compared to major banks in Vietnam.
How to Repay Techcombank Unsecured Loans
Ensure timely repayment to avoid additional late fees and interest. Customers can repay the loan through:
- Direct payment at Techcombank branches.
- Online payment via bank or e-wallet.
Frequently Asked Questions
Should I apply for an unsecured loan at Techcombank? Yes, Techcombank is a reputable bank offering the best products and services with preferential interest rates. Additionally, high loan limits without collateral are provided.
Does Techcombank accept customers with bad debt? NO. Techcombank does not support customers with bad debt at other banks or financial institutions.
How long does it take to disburse the loan at Techcombank? Immediately after approval, Techcombank will disburse the loan without delay.
Conclusion
Thank you for following the article to the end. TOPGOVN has shared all the necessary information you need to know when applying for a Techcombank unsecured loan. We hope the above information helps you easily register for a low-interest unsecured loan at Techcombank quickly and effectively.
