Under 18 Years Old: Eligible for Bank Loans?

In Article 7 of Circular 39/2016/TT-NHNN, it is stipulated:

Credit institutions shall consider and decide on lending when customers meet the following conditions:

+ The customer is a legal entity with civil legal capacity as prescribed by law. The customer is an individual who is at least 18 years old and has full civil act capacity as prescribed by law or is from 15 years old to under 18 years old and is not deprived of or restricted in civil act capacity as prescribed by law.

+ The need for borrowing capital is for a legitimate purpose.

+ Has a feasible plan for the use of capital.

+ Has the financial capability to repay the debt.

In the case where customers borrow capital from credit institutions at the lending interest rates stipulated in Clause 2, Article 13 of this Circular, the customer is assessed by the credit institution as having transparent and healthy financial conditions.

=> Thus, according to the above regulations, an individual customer who is from 15 years old to under 18 years old and is not deprived of or restricted in civil act capacity and meets the other borrowing conditions will still be eligible for a loan.

Respectfully.