Lotte Finance is a financial services company offering advanced financial services and credit management technology solutions. So, what are the procedures for a Lotte Finance loan?
About Lotte Finance
Founded in 1948, Lotte is one of the largest and most influential multi-sector conglomerates in the business market. Its business sectors include distribution, hotels, tourism, F&B, construction, chemistry, and finance. Lotte Finance, the financial arm of the conglomerate, is headquartered in northern Vietnam. Additionally, Lotte Finance in Vietnam develops financial services based on customers’ financial needs and leverages modern technology platforms. They promise to provide the most suitable financial solutions for individuals, such as personal consumer loans. So, what are the procedures for a Lotte Finance loan? Let’s find out in this article.
Lotte Finance Loan Procedures
The loan procedures at Lotte Finance involve the following steps:
- Product Consultation Registration: Customers can contact Lotte Finance’s hotline at 1900-6866 or leave their information on the website to receive a free consultation call.
- Receive Product Consultation: After receiving the customer’s information, Lotte Finance staff will contact the customer to provide consultation on loan packages and guide them in preparing the necessary documents.
- Loan Application: After consultation and selecting the appropriate loan package, customers need to provide the documents as guided by Lotte Finance. During the document provision and loan application process, customers do not have to pay any fees.
- Wait for Approval: Based on the information provided by the customer, Lotte Finance will have sufficient data to start evaluating and approving the loan.
- Sign Loan Contract: Lotte Finance will guide you to the nearest location to sign the loan contract, explaining all the terms, fees, payment dates, monthly payments, and other information.
- Receive Cash: After signing the loan contract, you can choose to receive the money at the post office, through your bank account, or at other partner transaction points of Lotte Finance.
Required Documents for Lotte Finance Loan Procedures
Similar to most financial companies, to complete the loan procedures at Lotte Finance, customers need to prepare some typical documents such as:
- Loan application form according to Lotte Finance Vietnam’s template.
- Identity card or citizen identification card.
- Permanent residence book/temporary residence book (KT3).
- Income proof documents: salary statement, salary slip, electricity bill, etc.
Lotte Finance Loan Products and Interest Rates
Depending on the specific customer, the consultant will help choose the suitable loan package. Each loan package will have its conditions as follows:
- Customers with Health Insurance Card
- Condition: Income from 3 million VND or more. No collateral required.
- Loan Amount: Up to 20 million VND.
- Interest Rate: From 2.32% per month.
- Customers with Utility Bills
- Condition: Income from 3 million VND or more. No collateral required.
- Loan Amount: Up to 20 million VND.
- Interest Rate: From 2.69% per month.
- Customers with Life Insurance Contract
- Condition: Income from 3 million VND or more. No collateral required.
- Loan Amount: Up to 70 million VND.
- Interest Rate: From 1.76% per month.
- Customers with Loan History at Financial Institutions
- Condition: Previously had or currently have a loan at a bank or financial company.
- Loan Amount: Up to 50 million VND.
- Customers with Salary Income
- Condition: Income from 4 million VND or more. No collateral required.
- Loan Amount: Up to 70 million VND.
- Interest Rate: From 1.32% per month.
- Female Customers
- Condition: Income from 3 million VND or more. No collateral required.
- Loan Amount: Up to 50 million VND.
- Interest Rate: From 1.76% per month.
- Government Employees
- Condition: Government employees.
- Loan Amount: Up to 100 million VND.
- Interest Rate: From 1.12% per month.
- Installment Loans for English Courses
- Loan Amount: Up to 70 million VND.
- Interest Rate: 0% per month.
- Customers with Stocks
- Condition: Own stocks.
- Loan Amount: Up to 100 million VND.
- Interest Rate: From 1.16% per month.
- Car Purchase Loans
- Loan Amount: Up to 3 billion VND.
- Interest Rate: From 0.625% per month.
Notes on Lotte Finance Loan Interest Rates
- Loan interest rates, preferential loan interest rates (if any) are specified in the consumer loan contract.
- Interest rates are calculated based on a 365-day year.
- Interest rates on overdue principal are 150% of the in-term loan interest rate at the time of the overdue debt.
- Overdue interest rates are 10% per year.
For more details on loan terms and other interest rate frameworks at Lotte Finance, customers can refer to the official website of Lotte Finance. Regardless of the loan interest rate, timely repayment of the loan is a way for borrowers to minimize the interest they have to pay. However, choosing where to repay the loan reliably and conveniently is a matter customers must carefully consider. Currently, Viettel Money is one of Lotte Finance’s financial partners, supporting customers in making safe online loan repayments. Explore this repayment method on Viettel Money!
Loan Approval Time and Repayment at Lotte Finance
When applying for a Lotte Finance loan, borrowers naturally want their application approved as soon as possible to promptly address their personal needs. So, how long does it take to approve a Lotte Finance unsecured loan application? And how can customers know if their application is approved?
Understanding the need for quick approval, Lotte Finance strives to process applications as fast as possible. Within a maximum of 3 working days, Lotte Finance will complete the loan application review process for customers. To avoid long waits, as soon as the application is approved, a consultant will contact the customer to guide them through the next steps in the Lotte Finance loan procedure.
However, if it exceeds 3 working days without a response from the company, customers can immediately contact Lotte Finance’s hotline at 1900-6866 for clarification.
This article has provided insights into the Lotte Finance loan procedures to help customers prepare best when starting a transaction. It is clear that Lotte Finance offers convenient and optimal financial solutions for its customers. All financial services and products of Lotte Finance in Vietnam are developed to meet customer needs, as evidenced by the fast and diverse loan procedures. Customers can refer to choose the most suitable place for their ability and needs. If you intend to apply for an unsecured consumer loan, contact us immediately for guidance on the Lotte Finance loan procedures as soon as possible.
