Thursday, December 3 2020

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Five steps for young families to build and lead their dream life

Update: October, 26/2020 - 10:00

It is an essential step for young married couples to make financial plans for their new stage in life. The following tips will be very useful to help young families to set up their financial plans and get ready for further steps on the journey of building their home sweet home.

Setting financial goals together

To be honest with each other about your finance, including income, debt, current investment and others.

Both, husband and wife, should be responsible for living expenses and saving for family goals, after getting married. Therefore, open discussion about each other’s finance will help both to agree on spending and saving plans in the future. 

 

Setting financial goals together is important for families’ happiness.

Setting a detailed spending budget

As the family income is set, husband and wife can agree to divide their budget into pieces for better management. Both should have discussion and come up with a detailed plan to accomplish the goals as soon as possible. Moreover, preparing budget before having kid is very important.

Apart from the budget for daily spending such as shopping, meals, electricity and water charges, newlyweds ought to set aside part of the budget for urgent problems, roughly equivalent to three to six month’s income is enough to use for unexpected events, such as illness, job loss or other emergency.

Using the convenient financial products and services

Optimizing daily transaction fees is a matter that the couples should more focus on, aiming to save and invest in different important financial plans. With S-Payroll account of Shinhan Bank, the young couples can conveniently make banking transactions and reduce all related fees in the most effective way thanks to the convenient functions of its product.

Especially, customers who register for salary payment through S-Payroll also enjoy preferential loan interest rate from Shinhan Bank. Besides, when registering for S-payroll account, customers have three months to use the service free of charge without any conditions, including:  ATM card issuance, credit card/debit card issuance; cash withdrawal at ATM system of Shinhan Bank and other banks, SMS text on account balance fluctuations, domestic transfers to Shinhan Bank account and other bank’s account via Internet Banking/Mobile Banking SOL, etc. To continue enjoying these offers, customer just need to have at least one transaction of receiving monthly salary or other monthly income from VND 5 million.

Make your settled home

One of the most important plans for young families is to own a stable home, to settle down and thrive. According to financial experts, getting a home loan to cover about 30%-40% of the house value is the ideal option for those who would like to own a house. This is to put not too much pressure on the family for loan repayment.

 

Owing your dream house with attractive home loan interest rate from Shinhan Bank

The banks now have various home loan options with different interest rate and loan conditions for you to consider. Before making decision, you need to understand thoroughly the information and the lending policies of each bank. Shinhan Bank has offered home loans with attractive interest rates. Customers can flexibly choose one of three home loan packages with interest rates of 6.5%/year (fixed for 12 months), or 7.4%/year (fixed for 24 months), or 8.0%/year (fixed for 36 months). This flexible interest rate scale help you to be proactive in arranging loan repayment, supported by your personal finance. In an effort to bring peace of mind to customers, Shinhan Bank, for the first time ever, has launched 48-month fixed interest rate home loan package at the rate of only 8.7%/year.

Manage your life in your way

In addition to the home loan, Shinhan Bank is also offering car loan and consumer loan with preferential interest rates, tailored to meet the needs of individual customers.

Shinhan Bank’s car loan is currently one of the loan packages that offers the most attractive interest rate now, helping families easier to own a car with interest rate ranging from 7.5%/year (fixed for 1 year), 8.0%/year (fixed for 2 years), and 8.6%/ year (fixed for 3 years). You can get the loan amount to cover up to 80% of the new car value. Customers receiving of income from VND 40 million through bank transfer can enjoy additional 0.5% discount of interest rate. In addition, Shinhan Bank offers 0.1% - 0.3% discount of released interest rate when buying cars from brand affiliated with Shinhan Bank.

This car loan package can helps young couples turn their dream of owning a car into practice right after marriage and enjoy a comfortable life with reasonable pay.

 

Shinhan Bank has offered loan products with attractive interest rates, customized to meet the financial needs of young families

In addition, Shinhan Bank also offers a consumer loan package with a limit of up to VND 500 million and preferential interest rates applied to amortized balances, at 1.16%/month, without collateral or guarantee of the employer. With the utilities from this loan package, young newlyweds can actively make shopping or business plans for their home.

Information Box

As a bank with strong financial power and pioneering in digital banking, Shinhan Bank always synchronizes its customer services according to international standards, emphasizes transparency and convenience, and applies modern technology during over 27 years in Vietnam’s market. That has created the confidence and the trust of customers when accompanying Shinhan Bank throughout the years. In April 2020, Shinhan Bank was honored to receive the award "Best foreign retail bank in Vietnam 2020" by International Business Magazine. This is a worthy recognition for the persistent efforts of Shinhan Bank throughout nearly three decades in the Vietnam’s market. 

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