New Year’s Eve comes with all this preparation and shopping that needs to be done, increasing the financial burden for many of people. To make our customers’ lives easier, Timo offers 2 special products to help you get everything you need without worrying about breaking the bank: Timo Fast Cash & Timo MasterCard Installment.

If you are wondering which product would best suit you, keep reading to get all the information needed to make the right decision for yourself.

1/ Registration and approval

Timo MasterCard Installment

  • Timo MasterCard holders can immediately apply for the installment plan if your credit card is active and the validity period of the card is equal or greater than the installment repayment period.
  • The approval is carried out online via the Timo app. Any eligible transaction over 3.000.000 VND that are labeled “Create Installment” in the Timo app can be converted into installments. You can receive the confirmation of your installment status within 1 day* from application.  *Only applicable on working days

Fast Cash

Timo’s cardholders can easily register for Fast Cash in the Timo app within a few minutes. Your application would be approved within 30 minutes during working hours (Mon – Fri, 8:00 – 16:00)

2/ Criteria for application

Timo MasterCard Installment

To apply for Timo MasterCard Installment, the main criteria for application focus on the transactions needed to be converted into installments, such as:

  • Eligible transactions must be over 3.000.000 VND and are labeled “Create Installment” in the Timo app.
  • Eligible transactions applied to be converted into installments must be successfully recorded by VPBank
  • Eligible transactions must be paid by VNĐ inside Vietnam.

Find out more about other criteria for application here.

Fast Cash

With Timo Fast Cash, you will not need to provide proof of income or mortgage assets in order to apply. There are only 3 qualification criteria for Timo Fast Cash as shown below:

  • You have an active Timo Spend Account for at least 180 days.
  • Your Spend Account and Goal Save have a minimum average balance of at least 500.000 VND over 180 days.
  • Your Spend Account has an average number of deposit transactions of at least 5.000.000 VND over 180 days.

Similar to Timo MasterCard Installment, Fast Cash can also be applied for in the app. Read more about how to activate your Fast Cash here.

3/Limit, interest and payment terms

  • Timo MasterCard Installment offers flexible repayment periods of 3, 6 or 12 months. This installment plan does not have a limit, any eligible transaction over 3.000.000 VND can be converted into installments with a low 1% interest rate payable monthly.
  • The limit of Fast Cash ranges from 10.000.000 VND to 100.000.000 VND. The maximum repayment period for Fast Cash is within 01 year from the day your Fast Cash is activated. Interest rates may change based on the time of registration, hence, full details about interest will be sent to your registered email address upon applying for Fast Cash.

4/ Characteristics and benefits

  • Timo MasterCard Installment: although this feature will help you shop for New Year’s Eve with ease, it allows you to carefully consider if it would be the right decision before converting each transaction into installments. Additionally, since this installment plan is not tied to any specific merchant in Vietnam, you can freely buy whatever your heart desires at any merchant of your choosing. However, this feature can only be used by Timo MasterCard holders with transactions made online and through POS terminals in Vietnam and in VND.
  • Fast Cash: this feature offers you additional cash flow with a high limit. Fast Cash can be used to pay utility or shopping bills online, transfer money and can be used regularly by swiping the Timo Debit card at all POS terminals. However, the money in Fast Cash will only be activated when your Spend Account balance reaches zero. Also, since Fast Cash can be activated with a high limit, you should be careful with your spending to avoid ending up with an excessive amount of debt. You are advised to only use Fast Cash for your daily shopping activities.

Both of the above products have their own distinct advantages that can help you to shop without worrying about going broke this Year-end. Upon understanding clearly the characteristics of both products, you will be able to choose the right feature for yourself to help you prepare better for the upcoming festive celebrations.  

Have you ever been in a situation where you face unexpected issues requiring an extra amount of cash that you do not have in your bank account? What would make an ideal backup plan to make sure you can react quickly in these situations? Look no further, because Timo Fast Cash is just the right “savior” for these situations. With Timo Fast Cash, bank loans no longer have to be slow and complicated. You will be in total control of every issue happening around you, even if it is unexpected.


When applying for a loan at a bank, most people usually feel discouraged due to a large amount of complicated paperwork and processes. At the same time, you usually need to wait a certain amount of time to find out if your application is approved. These problems are the cause that indirectly create a complicated path for those in need of a bank loan.

To help you have a quick backup solution, Timo offers Fast Cash right in the Timo app. Timo Fast Cash simply unexplained is an overdraft loan that you can get to cope with unexpected or urgent matters.

With the top priority of satisfying the urgent needs of customers, Timo Fast Cash is ready to respond to any unexpected matter of account holders. As all procedures can be done right in the Timo app, Timo account holders can easily activate Timo Fast Cash with:

– 4 simple application steps (Find out more here).

– 1-2 minutes to complete the application

– 30 minutes to get an approval

Additionally, repayment can also be made quickly via the Timo app. To pay for the amount of Fast Cash you’ve already used, the only thing you need to do is to deposit money into your Timo Spend Account. Timo will then automatically deduct the corresponding amount to pay for the amount of Fast Cash you already used, as well as interest.


To keep up with the speed of your life, Timo Fast Cash is designed to be a convenient product for users to use anytime and anywhere. When in need of a fast loan, you can be in complete control of applying for Fast Cash right in the Timo app without having to go anywhere. To make it more convenient for you, we also omit most of the complicated procedures so you would not have to worry about preparing any financial proof.

Instead of financial proof or an asset mortgage, the qualification criteria required for Fast Cash are elements that you can easily achieve, including:

– A Vietnamese National above 18 years of age

– Have an active Timo Spend Account for 180 days or more

– Have a minimum average balance of at least VND 500,000 in your Timo Spend Account and Goal Save over 180 days

– Have at least 3 credit transactions and average spend account credit transactions in the past 180 days greater than or equal to 5,000,000 VND

With Timo Fast Cash, you can easily get an overdraft loan of up to 100 million VND. Once your application is approved, your Fast Cash will be automatically activated as soon as your Spend Account reaches 0 (zero). Once your Fast Cash is activated, you are entitled to use your approved limit of Fast Cash to settle online payments, payments via POS and move money.


With Timo Fast Cash, transparency is demonstrated through updating and sending all relevant information about fees to users. In particular, you will receive an email about interest rates and related fees after completing your application for Fast Cash. If there are any changes in interest rates or related fees, rest assured that you will always be notified promptly by email or / and will be able to find the updates on every main communication channel of Timo. Additionally, information related to Fast Cash such as your Fast Cash limit, the amount used and interest rate would always be displayed clearly in the Timo app.

Regarding your interest, the charged amount of interest is only calculated based on the amount of money you already used in your Fast Cash limit. The average applicable interest rate is 24% per year. However, this interest rate may vary depending on the customer’s application and time. You will be notified of the official interest rate by email after completing your application.

Additionally, you will receive an email from Timo about the amount to be paid for your Fast Cash, including the interest calculated based on the agreed interest rate, approximately one week before the payment is due. The amount of money you need to pay for your Fast Cash is calculated with the following formula: (Actual overdraft balance x Interest rate x actual number of days the actual overdraft balance is used) / 365.

We hope that the above article has helped you to understand more about the key strengths and features of Timo Fast Cash. You can find out more Timo Fast Cash here.


Financial needs and personal finance management are important factors in our lives. Every individual has a different set of financial needs based on many considerations, such as age, career path, personal goals, etc. Hence every person would have a different way of managing their own personal finances.

In the process of managing personal finances, unexpected need of money beyond one’s current financial capacity is something that cannot always be avoided. This may lead to taking a loan from a bank or a financial institute or even a family member. But how can you choose a right loan type that suits your needs and repayment capability? Hopefully the following article will help you to do this easier.

1/ Different financial needs

Depending on various factors, such as age, career path, personal goals, etc., everyone will have a different purpose to get a loan. For young people who are still in universities, they often need a small loan to pay their tuition fees or buy a new laptop to support their education. For people who have been working for a few years, the demand for a loan may come from higher needs, such as: buying a new motorbike or a tablet to work anywhere without carrying a laptop. As for people with stable jobs and middle-aged people, their demand for a loan is often used to serve larger purposes, such as: investment, opening a business, buying a house, investing in education for their children, etc.

While the purpose of the loan may differ from individual to individual, it all comes down to one common need – that sometimes people just need an extra amount of money that can be paid off later. Hence, almost every bank and financial institution offers a range of loan types to suit different needs.

2/ Common types of loans

Overdraft loan

An overdraft loans is an approved amount of money that you can use in excess of the current balance in your account. Once you have successfully applied for an overdraft loan, your bank will issue the approved loan limit for you to use when your account balance hits 0. The outstanding benefit of this loan type lies in the fact that your loan limit can be relatively high as it can go up to 100 millions VND or 5 times higher than your monthly income.

Overdraft loan can act as a “financial savior” for situations where you have accidentally used most of your monthly budget and you still need money to pay for daily expenses or necessities. Suitable customers for this loan type are employed people with a relatively stable monthly income or small business owners requiring money to pay for expenses.

Unsecured loan

This is the type of loan that does not require being secured by mortgage assets. Any application for this loan type will be reviewed and approved based on one’s financial reputation. Your financial reputation will be evaluated through your monthly income or credit crating. Unsecured loans can be used to cater to those who need to pay expenses for weddings, holidays, etc..

Unsecured loans can offer a high limit of up to 500 million VND to use for 60 months. However, in similarity with overdraft loans, suitable customers for this loan type should be people with stable monthly income that can afford to repay for their loan.

Mortgage loan

This is the type of loan that requires being secured by mortgage assets. These mortgage assets must be ensured to be at interest for borrowers. With this loan type, the bank will keep documents related to the assets used for mortgage. Mortgage loans should be picked when you need money to use for large investments such as opening a business, stock investment, buying a house, etc. The approved loan limit can be significantly high as it can get up to 70% – 100% worth of your mortgage assets.

Installment loan

When using an installment loan to purchase a product, you will not have to pay the entire price of the product at the time it is purchased. An installment loan is a loan that is repaid over time with a set number of scheduled payments. To meet different needs, banks and financial institutions will have different interest rates and repayment periods for customers to choose based on their financial capabilities. This loan type is suitable for customers who are still in universities or have only been employed for a short period of time that need money to buy necessary facilities to support their education or their jobs.

3/ Things to consider before getting a loan

With all these available loan types offered by banks and financial institutions, you need to carefully consider your needs as well as all information related to the loan type you are aiming for. Personal factors needed to be considered include: your loan purpose, your desired loan limit, your monthly income, your repayment capability, assets that can be used for mortgage, etc.

Some important information related to the loan type you are aiming for can be the lowest & highest available loan limit, the length of time it can be used for, repayment method, interest rates and how interest is calculated, all terms & conditions related to the loan type, reputation of the selected bank, etc. Equally, you should carefully discuss and consult bank staff to be able to choose the most suitable loan type for yourself.

In parallel with a wide range of traditional types of loans, most banks have now offered overdraft loans. With outstanding benefits such as fast approval, flexible loan limit and simple repayment, overdraft loan is believed to be the suitable “financial savior” for a large number of people.

What is an overdraft loan?

An overdraft loan is an approved amount of money that allows you to use it, over and above the current balance in your account. With an overdraft loan, your bank will earn interest based on the amount of money you have use from your loan.

This form of loan is particularly useful for customers who need money to pay for their daily expenses. At Timo, this product, also known as Fast Cash, is offered to you with a goal of making sure it is a fast and convenient “financial savior”. In particular, any application for Timo Fast Cash is reviewed within 30 minutes with a flexible loan limit of up to 100 millions VND. Additionally, compared to other traditional loan types, Timo Fast Cash is more convenient and beneficial in terms of approval process, limit, interest rates, repayment method.

1/ Approval process

Instead of having to prepare a mountain of paperwork to apply for an overdraft loan at traditional banks, the application and approval process for Fast Cash at Timo is significantly fast and simple. You can check to see if you are qualified in the Timo app and apply for Fast Cash in app without having to submit any income proof or mortgage assets. Your application then will be reviewed within 30 minutes.

2/ Loan limit and interest

  • Loan limit: You could easily get a Fast Cash limit that is 5 times higher than your monthly income, if you have a monthly income of 20 million VND. To meet different customer needs, Timo Fast Cash varies from 10 to 100 millions VND.
  • Competitive interest rate: Although the interest rate for overdraft loans can be higher than interest rates for other loan types, the interest rate for overdraft loans is only calculated based on the actual outstanding overdraft balance and the number of days you have used the loan for. You can easily calculate your loan interest with the following formula:

Your monthly overdraft interest = (Total actual outstanding overdraft balance x Interest rate x Actual number of days the loan is used) / 365

Example: Your issued bank’s interest rate for overdraft loans is 9%. Your actual outstanding overdraft balance (the amount you used from your overdraft loan limit) is 5.000.000 VND and has been used by you for the past 14 days. If this is the case, the amount of interest you would have to pay is equivalent to:
Interest = (5.000.000 x 9% x 14) / 365 = 17.260 VND

3/ Easy repayment method

Instead of having to bring cash to the bank to pay for your overdraft loan, customers using Timo Fast Cash can easily repay for their overdraft loan without having to carry out complicated paperwork. When you top up your Timo Spend Account, the deposited amount will automatically be deducted to repat for your Fast Cash, including interest fees.

Find out more about Timo Fast Cash here.

Is your account balance in a “worrying state” with insufficient funds for you to survive financially until the end of the month? Have you heard about one of our digital banking products – Fast Cash? If you’re facing issues and are concerned with your account balance of late, then consider Timo’s Fast Cash and continue reading the following article to discover just the solution to your problem.

Open a Timo account to use Fast Cash here.

1/ How to apply for Fast Cash?

Timo Fast Cash can simply be called an overdraft loan – a common loan product offered by many banks in Vietnam. However, instead of having to travel to your bank to apply for a loan, the outstanding difference with Timo Fast Cash is the fact that it’s can be applied for anywhere with a smartphone that has an internet connection.

Here’s how you can apply for Timo Fast Cash with the following 4 steps:

Step 1: At the main Menu, tap on Wealth and choose Fast Cash
Step 2: If you are qualified to use Fast Cash, continue to fill in all required information
Step 3: Crosscheck all your personal details and and choose Activate My Fast Cash
Step 4: Read all terms and conditions related to Fast Cash before submitting your application

Your application will be reviewed within 30 minutes if it is sent within the hours of 8:00 to 16:00 from Monday to Friday. If you apply for Fast Cash outside of this time frame, your application will be processed on the next working day.

Open a Timo account to use Fast Cash here.

2/ Qualification criteria

Before applying for your Fast Cash, you can quickly check to see if you are qualified. There are 4 criteria you need to meet in order to apply for Timo Fast Cash, as follows:

  • You are a Vietnamese citizen above 18 years of age
  • You have an active Timo Spend Account for at least 180 days
  • Your Timo Spend Account and Goal Save have a minimum balance of at least 500.000 VNĐ over the past 180 days
  • Having at least 3 credit transactions and average spend account credit transactions in the past 180 days greater than or equal 5,000,000 VND

Open a Timo account to use Fast Cash here.

3/ Limit, interest rates and available time of usage

To meet a variety of different needs, Timo Fast Cash offers a flexible and competitive overdraft loan limit from 10 up to 100 million VND  based on their credit rating and needs. You can also increase your Fast Cash limit easily based on the average amount of money credited into your Spend Account over the past 180 days.

In terms of interest rates, your Fast Cash will come with a fixed annual interest rate of 24%. Once your Fast Cash is activated, you will have a year to use your overdraft loan limit.

Open a Timo account to use Fast Cash here.

4/ How to use and pay for Fast Cash

After successfully applying for Fast Cash, you shall use the remaining balance in your Spend Account. When it reaches zero, your approved Fast Cash limit will be activated and you will be able to see the available limit for use there. According to the State Bank of Vietnam, you cannot withdraw cash from overdraft loans. However, you can still freely use your Fast Cash to pay bills online, transfer money or pay via any POS terminal.

When you top up your Timo Spend Account, this amount will then be automatically deducted to repay for your Fast Cash and agreed interest fees. Once you deposit enough to cover your Fast Cash limit, the rest will remain untouched in your Spend Account for you to use as usual.

Open a Timo account to use Fast Cash here.

Should you use Timo Fast Cash?

Timo Fast Cash tends to act as a “financial savior” in situations where you still need money to pay for your daily expenses when your account balance is low. To make it easy for customers, we make sure that the application process is fast and convenient without requiring income proof or mortgage assets. Those who should use this feature are those who are in need of a loan to support their daily spending. If this is you, find out more about Timo Fast Cash here.

  • Did you know? 

    To help you save time and money so you can live your life instead of spending it at a bank, Timo digitalizes the majority of regular banking transactions so you can bank anywhere and anytime. Here are some of the highlights that you can look forward to: 

    Free ATM withdrawals/money transfer

    Free annual fee for Timo Debit cards 

    Smart online saving tools with competitive interest rates

    Convenient Timo Mastercard with attractive benefits

    Get an overdraft loan within 30 minutes via the Timo app

    Send a payment request, lock/unlock your cards, pay bills right within the app