The Best Personal Loans for First-Time Borrowers in 2026

HSBC Vietnam Personal Loan offers the lowest starting rate at 6.0%, making it a top pick for high-income professionals and expats. However, the requirement for an HSBC account and a higher minimum salary might not be ideal for everyone. If you're meeting these criteria, the low APR and high loan amounts up to VND 500M are hard to beat.

FE Credit stands out for its fast approval process within 24 hours, crucial for borrowers who need quick access to funds. Although the rates range from 20% to 48%, the ease of approval without collateral makes it accessible for those who might not qualify for bank loans.

VPBank's personal loan offers a competitive digital-first experience with its VPBank NEO app, providing a quick processing time. While the starting rate is higher at 14.4%, it's suitable for tech-savvy borrowers who prefer managing their finances online.

Techcombank offers up to VND 1 billion with a starting rate of 12.9% per year, ideal for salaried professionals with good income. While the processing takes 1-3 days, the high maximum loan amount is beneficial for substantial expenses.

Agribank provides personal loans starting from 7% p.a., backed by the largest branch network in Vietnam. The slower application process might be a downside, but for rural borrowers who value face-to-face interaction, it's a solid choice.

Vietcombank offers competitive rates starting at 7.5% with a wide branch network. While a salary account or collateral is needed for the best rates, it's a reliable option for those seeking stability from Vietnam's largest state-owned bank.

BIDV provides a competitive starting rate of 7% p.a., suitable for salaried employees looking for low-rate financing. However, the documentation-heavy process can be cumbersome, making it best for those who can navigate complex paperwork.