Asset appraisal is one of the important steps in collateral lending with collateral. This is also the first activity that the bank considers the acceptability of your loan. So, how is the asset appraisal process for lending credit institutions in Vietnam?
Asset valuation to borrow money like?
Currently, to perform their purposes (buy a house, a car, invest in business expansion ...), many individuals and organizations often turn to banks to borrow money. In bank loans, the first thing you must have is to have collateral. The more valuable a collateral is, the higher your credit line will be. On the contrary, the lower the collateral price, the more easily its value fluctuates according to the market trend, the lower the lending limit, it is difficult to meet the needs of customers.
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Depending on the value of the loan and the purpose of the loan, we can use many different types of collateral. The more valuable a collateral is, the more it can be secured for large loans with a high credit limit. Conversely, low collateral, prone to price fluctuations, will often find it difficult to bring back the desired loan of the customer.
So how to know how much your collateral is in Vietnamese currency? The asset has to undergo a valuation, which is an important first step for the bank to consider setting your credit line. Each bank has a different appraisal method for setting the final value of collateral. Currently, many banks are competing, so borrowing often has many supports and incentives.
Thus, the appraisal for bank loans is that the bank or the price appraisal company carries out the inspection and analysis of collateral (red book of pink book, right to contribute capital to business, savings book ... ) to determine loan limits to customers.
