Critical factors to identify reliable lenders in Vietnam

Along with variety of financial needs, currently, many financial providers with fast and convenient services are gradually emerging as a trend. However, how to identify a reliable and transparent lender, let’s discover useful tips with Shinhan Finance:

1. The lenders have a clear identification and registration information:

The lender’s identification is the first thing to pay attention to. Normally, a reputable and legal lender is guaranteed by the State Bank of Viet Nam or a member of large bank or big financial company for its transparency and solid financial potential. Before directly contacting the lender, you should carefully consult the group of information related to the lending company such as its history, head office registration, type of business, company size, business system, capital, etc.

Currently, most reputable lenders publish these groups of information on their official website, thereby enhancing credibility with their potential customers.

2. Lenders have good reviews by customers:

The reputable lending company will publicly post the customer's feelings and experiences about its services to increase its credibility and attract customers.

Reading customer’s reviews of different lenders is necessary to get an overview about the quality of their products and services. Besides, this information also indicates the reputation of the lender in the market and the popularity of the lender in the local region.

Currently, in the consumer finance market, borrowers can easily access different evaluations from various sources such as: reviews at company website, reference websites, financial company reviews report, trusted scores on apps, etc.

3. Lenders have long history of sustainable operation and achieve many prestigious awards:

The reputation and operating history of the lender is the third prerequisite to help borrowers identify a reputable lender.

In addition to demonstrating the lender's transparency to the market, the sustainability history partly helps borrowers capture related information about business activities, capital sources, cash flows, financial status of the loan provider.

Besides, the reputation recognized by trusted third party also reflects the brand coverage, credit score, and the company's solid growth in financial industry.

4. Lenders provide good quality of customer service and diverse customer support channels:

Today, the quality of customer service is gradually becoming the main measurement in the selection of product and service providers. The evaluation of customer service quality for a lender is also one of the key factors to help borrowers make decision. Borrowers need to recheck some information when considering a loan provider such as: types of services, customer care channels, personal loan advice, customer service quality assessment sheet, etc.

Along with digitalization development, besides direct interaction points, reputable lenders also promote customer supports via a variety of online channels such as websites, apps, social media channels, etc.

From the above signs, it is not difficult for you to identify a reputable lender. Currently, Shinhan Finance – an outstanding consumer lending company is rated by many customers as one of the most reputable, fast and convenient lenders in the financial market in Vietnam.

With more than 16 years of experience in the consumer lending market in Vietnam, Shinhan Finance has a nationwide business network. The company always actively approaches, advises and supports customers with diversified and flexible personal financial solutions. Shinhan Finance is proud to have been serving more than one million Vietnamese customers.

Besides, with smart appraisal features and streamlined process, recently, Shinhan Finance's iShinhan financial management application has been honored and voted by consumers as Top 10 Trusted Products in Vietnam.

Experience smart iShinhan application here.