|Cash24 – Installment loans up to 15 million with only ID card
Fast online money lending platforms are becoming quite popular among people. However, many people are unsure whether this method is truly safe and ensures their financial sources. Among the many options, Cash24 is a chosen name, most trusted and widely used by users. So, what is this application, is it safe or not? All will be revealed in detail through the following information!
What is Cash24?
|What is Cash24 company?
Cash24 is a product from Ideal Tech Joint Stock Company – a financial company with many years of experience in the field. Cash24 is a software for fast and convenient online money lending for customers.
Cash24 subsidiary was established and started operating in the middle of 2019. Besides the money lending aspect, the purpose of Cash24 is to provide support services such as advice, managing suitable loan packages for different customer groups.
The current headquarters of Cash24 is located on the 14th floor, Ree Tower building, 9 Doan Van Bo Street, Ward 12, District 4, Ho Chi Minh City. Many people use this service because it provides many high-quality services compared to the market, and customers can borrow Cash24 with an allowed credit limit by providing accurate personal information.
Is it safe to borrow money from Cash24?
|Is it guaranteed to borrow money at Cash24?
Transferring money to an online money lending unit entails many risks, so every customer has the right to be cautious about cooperation. However, being part of a reputable and long-operating company, trusted by many customers, Cash24 is a reliable and quality option for consumers.
Cash24 has been associated with a lot of information about scams, but after all, these are deceptive tricks from competitors and the lack of understanding of users. Every service provided by the company comes with associated costs, including service fees, to ensure customers have a clear understanding. However, many people believe that Cash24 unilaterally takes additional money without any such terms.
Please note that, along with borrowing money, if you do not use assets as collateral, the interest rate after repayment will be higher. This is a common situation in the entire credit system, not just Cash24.
Additionally, many people are unclear about where these calls are coming from, actively seeking customers and using the name Cash24 to deceive and attract them to new discount programs through links. Consequently, many individuals are deceived, which affects the company’s reputation. Therefore, if the information is not taken from the official website, you should not follow it.
Advantages and disadvantages of borrowing from Cash24
Every online money lending company has strengths and weaknesses that need to be minimized to provide the best experience for users. These pros and cons are the reasons why they are chosen instead of other applications in the market. So what are the highlights and limitations of Cash24? Here are the advantages and disadvantages of Cash24 company.
|Advantages of Cash24 company
Advantages of Cash24
Cash24 company possesses all the elements of a reputable and high-quality money lending unit in the market. It is the preferred destination for many people when encountering financial difficulties. Some advantages include:
- Cash24 is a subsidiary of Ideal Tech – a reputable and quality company in the market. With years of operation experience, the company has earned a good reputation and a leading position in the field, instilling trust in its customers.
- The credit limit provided by Cash24 is high, up to 15 million, and does not require collateral. This is a substantial amount for app-based loans currently available in the market.
- Issues related to loan interest rates, service costs, and outstanding debts at Cash24 are well documented and notified to customers, allowing them to have a clear understanding and proactive management of their loans.
- Customers at Cash24 can repay the loan in full at any time. There is no need to wait until the end of the term to settle the loan. Flexible settlement time ensures customer autonomy in loan management.
- The loan approval process at Cash24 is fast and does not take much time. Sometimes customers can have their loans approved on the same day. Additionally, the rate of approval for customer applications is relatively high, providing the opportunity for large loans.
- Customer information at Cash24 is completely confidential to protect personal lives and related issues. No third party has the authority to access your loan information.
- Cash24 provides professional products, bringing many benefits to customers without any deception, as everything is recorded and transparently expressed in the contract.
Disadvantages of Cash24 Company
|Disadvantages of borrowing at Cash24
Alongside the prominent advantages, Cash24 still has some limitations as follows:
- Cash24’s loan terms are not diverse, mainly ranging from a minimum of 3 to 6 months.
- Customers need to be well aware of additional fees to avoid any oversight and be prepared for repayment. The company imposes various minor fees, such as application fees, late payment fees, and advisory service fees.
- The company’s costs may be relatively high compared to the benefits customers receive, making it a suitable option.
Requirements for Borrowing at Cash24
|Borrowing requirements at Cash24
To be eligible for borrowing at Cash24, you need to meet the following criteria:
- Applicable only to Vietnamese citizens with valid identification such as ID card or citizen identification card.
- The eligible age range for borrowing is from 18 to 60 years old.
- Stable monthly income of at least 3 million VND and the ability to provide proof of such income.
With these simple borrowing requirements, customers can quickly proceed with the application process on the online platform. However, it’s essential to provide sufficient evidence of monthly income as it will be carefully considered during the approval process.
Steps to Borrow Money on Cash24
To apply for an online loan at Cash24, customers should follow these steps:
- Step 1: Access the official website of Cash24 at https://cash24.vn/. Then log in to your account and select the desired loan amount and repayment period.
- Step 2: Fill in your personal information, such as your full name, contact number, and email address for notifications. Additionally, provide accurate identification details to expedite the approval process.
- Step 3: Wait for Cash24 to assess your information and income. Once your application is approved, the company’s staff will contact you to confirm the loan amount and verify the information you provided on the system.
- Step 4: If the process proceeds smoothly without any issues, Cash24 will promptly approve your application and transfer the money to your account.
Essential Information for Borrowing at Cash24
|Interest rates and credit limit at Cash24
To facilitate and proactively manage your loan, remember the information about the credit limit and interest rates at Cash24.
For first-time borrowers, the amount they can borrow will be limited. The company offers a 0% interest rate for the first two weeks. After this period, a new interest rate will be applied. Within 30 days, the interest rate is typically around 10% per month or 0.7-0.9% per day.
Additionally, the credit limit may vary depending on the customer’s personal information and over time. Service fees are also included in the interest rate for online applicants.
Cash24 offers a credit limit from 1 to 15 million VND for monthly installment repayment. With a valid ID card, customers can receive the money promptly.
Frequently Asked Questions at Cash24
When using the lending services at Cash24, customers may have several questions that need clarification to ensure their rights. Below are some frequently asked questions:
How does Cash24 verify information accurately?
There are various methods for the company to verify accuracy, such as making calls to your workplace or contacting relatives and friends to verify documents and identity. However, the company will only contact in cases where there are transparency issues in the provided information.
What happens if loans at Cash24 are overdue?
If the loan is overdue and remains unpaid, it will be considered a bad debt. Continuously extending the loan period without completing the payment will increase the risk of bad debt, making it difficult for you to borrow from other credit institutions. Ensure you are capable of repayment to safeguard your future credit history.
How long does the approval process take at Cash24?
Many people are eager for a quick approval process. Typically, the evaluation process takes place on the same day, and if you meet the requirements, the staff will contact you for information verification. After that, the loan will be disbursed to the borrower.
Above are the key details about the online loan company Cash24 that you need to know. Through this article, readers can understand the advantages, disadvantages, and borrowing requirements of the company. To have the opportunity for a quick approval process, visit Cash24 today.