Legal
Financial disclaimer
· Applies to loamnotes.com and every page on it
This site is about borrowing several billion dong over twenty years. It would be irresponsible to publish that without being precise about what the numbers are, what they are not, and where they stop being reliable.
This is not financial advice
Rate Shock is a calculator and a set of general guides. It is not financial, investment, tax, insurance or legal advice, and nothing on it constitutes a personal recommendation.
The distinction is not a formality. Advice takes account of your circumstances: your income and its security, your other debts, your dependants, your health, your plans, your tolerance for risk. This site knows none of those things, and a tool that does not know them cannot responsibly tell you what to do. It can only tell you what a set of numbers implies.
Rate Shock is not a licensed credit institution, a credit broker, an insurance intermediary or a licensed financial adviser, and is not registered with the State Bank of Vietnam or any equivalent authority in any other jurisdiction to provide such services.
What the calculator actually is
It is arithmetic applied to figures you supply. Every formula is published on the methodology page, the engine is covered by forty-three automated tests checked against hand calculations, and the source code is open. You can verify any output yourself, and we would rather you did.
What the arithmetic cannot do is know whether the figures you entered match your contract. Garbage in is still garbage out, however carefully the middle is tested.
The assumptions every figure rests on
- The floating rate you enter holds for the rest of the term. It will not. Nobody can forecast a base rate twenty years out, which is why the tool offers a stress test rather than a projection. Treat every long-run total as one scenario among many.
- Payments are made on time, in full, every month. Arrears, penalty interest and restructuring are not modelled.
- The contract behaves as you described it. Fee tiers, clawback windows and reset schedules differ between banks and between products at the same bank, and some are drafted ambiguously.
- The clawback estimate is an estimate. It is computed as the sum over the promotional months of the balance times the gap between the standard and promotional rates. Several banks compute it differently, some on the original principal and some against a standard rate that is not your floating rate. The figure shows you the scale of the exposure, not the number that will appear on a settlement statement.
- Costs of owning the property are excluded. Management and service charges, maintenance, property taxes, utilities, furniture, and any movement in the value of the property are all outside the model.
- Approval is not modelled. The tool does not know whether any bank would lend you this money, and every bank applies its own credit policy.
- Tax is not modelled. No deduction, relief or liability arising from the loan or the property is taken into account.
Your contract is the only authority
Where this site and your credit agreement disagree, the credit agreement is right and this site is wrong. That is true even if our arithmetic is correct and theirs looks odd, because the contract is the document that binds you. If the two do not reconcile, the discrepancy itself is the finding: take it to the bank and ask them to explain it in writing before you sign.
No relationship with any lender
There are no affiliate links, no referral fees, no lead generation and no bank rankings anywhere on this site. Nothing you enter is passed to a lender. No bank has paid for, reviewed or influenced any of this content. The site is funded by display advertising, described in the advertising disclosure, and advertisers have no influence over what is written.
Advertisements you see here, including any for financial products, are selected by Google Ad Manager and are not endorsements. We do not vet advertisers and cannot vouch for their products.
Get advice when the stakes justify it
Use this tool to arrive at your loan officer’s desk knowing which questions to ask and which figures ought to worry you. That is genuinely useful, and it is the limit of what it does. Where the loan is large relative to your income, where your income is variable or concentrated in one earner, or where anything in the contract is unclear, consult a qualified financial adviser or a lawyer before signing. The cost of an hour of professional time is trivial against the numbers involved.
Errors
If a figure here is wrong, we want to know and we will fix it. How corrections are made and logged is set out in the editorial policy; reports go through the report a calculation bug section of the contact page.
Liability
To the fullest extent permitted by law, Rate Shock accepts no liability for any decision made, or loss suffered, in reliance on anything published here. The full limitation is in the terms of use.