The 2024 population standard survey of the General Statistics Office shows that the average income per capita in 2024 will reach about 5.4 million VND/month, while the average expenditure per person is about 2.8 million VND/month, showing that the ability of many households to accumulate reserves is still very limited.
When faced with arising loans, many traders and freelance workers are likely to fall into a situation of broken working capital; in reality, a large part have to seek unofficial loans at high costs, leading to the risk of a debt spiral.
In recent years, the development of digital financial platforms has brought more options. A recent highlight is F88's limited loan solution, this solution is designed specifically for unskilled customers such as small traders and freelance workers who often need to rotate capital urgently but have little opportunity to access banks.
Unlike traditional loans, limit loans at F88 are implemented entirely on digital platforms through the My F88 application. For new customers, carrying out loan procedures and handing over mortgaged assets only needs to be done once at the store. After that, customers can withdraw money online at any time they need, helping to shorten the processing time by up to 90% compared to the usual lending method.
After being approved, the total maximum loan amount (also known as the loan limit) will be displayed directly on the My F88 application. Borrowers can flexibly withdraw money many times within the approved limit without having to return to the store to do withdrawal procedures. Withdrawing money is easy, just by selecting the desired amount on the application, the money will be transferred to the account immediately, within the time frame from 01:00 to 22:00 every day.
Simply put, F88 is available to customers a "borrowing loan" with approved money, so that when needed, they can proactively withdraw and use it. Interest and fees are only calculated on the actual withdrawal amount, not calculated on the entire limit, and are also exempted from early settlement, helping customers save maximum borrowing costs.
For traders like Ms. Hanh, this form helps to reduce pressure significantly. "Now I don't worry about being forced to pay or losing my business just because of a lack of cash. Knowing that there are limits in my phone, I dare to import more goods, without fear of being passive, she said.
In reality, cases like Ms. Hanh show that the need for flexible financial instruments in daily life is very large. A reserve limit that can be activated at any time not only helps traders maintain business rhythm, but also helps unskilled workers be more proactive in the face of arising situations such as hospital fees, vehicle repair fees or tuition fees for children. This solution also helps them stay away from the risks from hot loan channels outside the market, which have many potential consequences. For this group of customers, a minute of operation on the application is sometimes a full month of peace of mind at work and trading, because they know they always have a reliable "reservoir" when needed.
