Video Overview

The writer is self-employed in Taiwan, receives income in cash, and lacks payroll-transfer records, creating concern about qualifying for an ordinary personal loan. A bank offers NT$690,000 for 84 months at an annual rate of 6.63%, with a monthly payment of NT$10,290. The representative states a possible rate range from 6.63% to 9.63%. The speaker considers the lowest quoted rate acceptable for this case and says to take the loan, pay on time, and retain the loan officer's contact details. After a one-year lock-in period, he proposes asking the original bank and competitors about a lower rate, a larger loan, or refinancing. This is the speaker's opinion on the case, not a conclusion that the loan suits every borrower.

Key Takeaways

• The self-employed writer is paid in cash and worries that the absence of payroll-transfer records will make approval difficult.
• The offer is NT$690,000 over 84 months at 6.63%, with a stated monthly payment of NT$10,290.
• The speaker says to accept the offer in this case, pay on time, and retain the loan officer's contact information.
• After the one-year lock-in period, he proposes comparing lower-rate, larger-loan, and refinancing options across banks.

Chapters

About 00:00:29 · The self-employed borrower's offer

The writer explains the income-documentation issue and lists the amount, term, rate, and monthly payment.

About 00:01:04 · The speaker favors accepting it

He considers 6.63% workable for this case and emphasizes timely repayment and maintaining the banking contact.

About 00:01:44 · Compare terms after one year

The speaker suggests asking the original lender and other banks about lower rates, additional borrowing, or refinancing.

Related Topics

self-employed personal loan, cash income, personal-loan rate, loan amount, timely repayment, refinancing comparison, loan officer