Take out and repay loans in just 4 easy steps. Credit limit = 90% of current balance
Apply for a loan with VNDC Credit Line in just 4 steps:
At the main screen of the VNDC Wallet Pro mobile app, scroll down and tap on Credit Line.
The Credit Line screen appear with a list of current loans. (In the image, no loans have been taken out yet). Tap on the (+) icon in the bottom right corner to take out a new loan.
The Type of Loan screen appears. You can take out a loan with these 3 cryptocurrencies:
- VNDC: Interest rate 1.98%/month, or 0.066%/day. Minimum loan of 200,000 VNDC
- USDT: Interest rate 0.975%/month, or 0.0325%/day. Minimum loan of 5 USDT
- USDS: Interest rate 0.975%/month, or 0.0325%/day. Minimum loan of 5 USDS
Choose the cryptocurrency you want to take out the loan with. (In this example, VNDC will be the cryptocurrency of choice. The steps to take out the loan are similar for other cryptocurrencies.)
In this screen, type in the amount you want to take out in the box provided. Tap on the checkbox: “By signing up to VNDC account, you have agreed to our terms and conditions". Tap Submit.
Your credit line will be shown on the screen. This amount is calculated by adding up the total current value of your wallet balances with the following ratio:
- BTC: 50%
- ETH: 50%
- USDT: 90%
- CHI: 90%
(The current value of your collateral, in equivalent to your chosen cryptocurrency, is calculated with the latest information from the TRUSTDEX.io platform)
Example: You have 100 USDT, which equals to 2,350,000 VNDC, and 0.4 ETH, which equals to 1,600,000 VNDC. Your credit line will be: 90%x(2,350,000) + 50%x(1,600,000) = 2,915,000 VNDC
Repay your loan in just 3 steps with VNDC Credit Line:
At the main screen of the VNDC Wallet Pro mobile app, scroll down and tap on Credit Line (same as above).
The Credit Line screen appears with a list of current loans. Tap on the loan you want to repay.
The Loan details screen appears. In the first box, type in the amount you want to repay. The Loan Interest and Total Settlement boxes will automatically be filled in, showing you the amount of interest and fees and the total amount you need to repay, respectively. Tap on the checkbox: “By signing up to VNDC account, you have agreed to our terms and conditions". Tap Submit.
- You can make as many partial repayments for you loan as you want.
- If you finalize your loan earlier than 30 days since the last time you took out a loan, the service fee charged = Loan amount x 0,067% x the number of days left until the settlement day. The number of days left until the settlement day = 30 - the number of days since the last time you took out a loan.
Should you encounter any difficulty during the Loan Application or Loan Settlement process, feel free to contact us at:
- The "Help Center" located within the VNDC Wallet Pro app
- Our Facebook support group at: https://www.facebook.com/groups/VNDC.io/