Rakuten Bank offers the Rakuten Bank Super Loan, a flexible and accessible loan option that provides financial support for various personal needs.
This loan is available to individuals looking for fast and convenient borrowing options without the need for traditional collateral or complicated application processes.
In this article, we will guide you through the process, outlining the essential steps, the interest rates, and other key details that potential borrowers need to know.
What is Rakuten Bank Super Loan?
The Rakuten Bank Super Loan (also known as the Card Loan) is a revolving credit loan offered by Rakuten Bank, a prominent online bank in Japan.
The loan is designed to provide quick financial relief with a high degree of convenience. Applicants can borrow money without the need to submit a guarantee or collateral.
The loan is available through a credit card system, allowing users to access the funds whenever necessary, as long as they stay within their approved credit limit.
Key Features of Rakuten Bank Super Loan
Before diving into the application process, it’s important to understand the key features of the loan:
- Loan Amount: You can borrow anywhere from ¥1,000 to ¥800,000 depending on your creditworthiness.
- Repayment Flexibility: The loan comes with flexible repayment terms, allowing you to pay monthly or make early repayments without penalties.
- No Collateral Needed: No collateral is required for this loan, making it an unsecured loan.
- Easy Access to Funds: You can withdraw funds through ATM, bank transfer, or via the mobile app.
Step-by-Step Application Process
Applying for the Rakuten Bank Super Loan is relatively simple and can be done from the comfort of your home.
Follow the steps below to apply for the loan.
Step 1: Check Your Eligibility
Before applying, ensure that you meet the eligibility criteria. Here are the basic requirements:
- Age: You must be between 20 and 69 years old.
- Residency: Applicants must be residents of Japan.
- Income: You should have a stable source of income, either from employment or self-employment.
- Creditworthiness: As with most loans, your credit history will be evaluated to determine your loan eligibility and the interest rate you will be offered.
Step 2: Apply with a Rakuten Bank Account or Rakuten ID
If you already have a Rakuten Bank account or Rakuten ID, you can apply directly using these credentials.
This simplifies the process as your personal information is already registered in the system, and the application can be completed faster.
If you don’t have a any of them, you will need to provide additional information, including:
- Your age: This is to confirm that you meet the minimum age requirement.
- Your job status: You will need to provide details about your current employment, such as whether you are employed, self-employed, or have another source of income.
Step 3: Application Process Divided into Sections
The application process is broken down into sections, each designed to collect specific information:
- Enter Your Work Information: In this section, you will need to provide details about your employment or income source. This may include your employer’s name, your job title, salary information, and other work-related details.
- Enter Your Application Details: You will enter your personal information, such as your name, address, contact details, and the loan amount you wish to apply for. You will also need to provide your bank account information to receive the loan disbursement.
- Check Your Input: After filling in all your details, you will be asked to review your entered information. It is important to ensure that all data is accurate and complete before submitting it.
Step 4: Documentation Upload through the App
To complete your application, you will need to upload certain documents. For convenience, you can do this directly through the Rakuten Bank mobile app.
The required documents may include:
- Identification: A valid Japanese ID, such as a passport, driver’s license, or resident card.
- Proof of Income: Recent pay slips or tax returns if you're employed, or financial statements if you're self-employed.
- Bank Account Details: A bank account where the loan funds will be deposited and repayments will be made.
The app allows you to easily take photos or scan documents and upload them directly, streamlining the process and speeding up the review.
Step 5: Submit Your Application
You can submit your application once all the required information and documentation have been entered and uploaded.
Rakuten Bank will then review your application, which usually takes a few minutes to a couple of hours.
If your application is approved, you will receive an offer detailing the loan terms, including the interest rate, loan amount, and repayment schedule.
Step 6: Review Loan Terms and Conditions
After receiving the loan offer, take the time to review the terms carefully. Ensure the interest rate and repayment plan suit your financial situation.
Pay particular attention to the loan amount and repayment schedule.
If you’re happy with the terms, you can proceed by electronically signing the loan agreement.
Step 7: Access Your Funds
Once the loan agreement is signed, the funds will be deposited into your designated bank account.
You can then access the funds via ATM withdrawals, bank transfers, or through the Rakuten Bank app.
Be sure to monitor your loan balance and adhere to the repayment schedule to avoid late fees.
Step 8: Repayment
Repayment for the Rakuten Bank Super Loan is typically made on a monthly basis. You can make repayments through the following methods:
- Automatic Bank Transfer: Set up automatic deductions from your bank account to ensure timely payments.
- ATM: You can also repay through Rakuten Bank ATMs or partner ATMs.
- Rakuten Bank App: Use the app to pay directly from your linked bank account.
If you wish to make an early repayment or pay off the loan in full, you can do so without incurring any extra fees.
Important Details
Here are some additional important details about the Rakuten Bank Super Loan:
- Loan Amount: From ¥1,000 to ¥800,000.
- Interest Rates: 1.9% to 14.5% per annum.
- Repayment Terms: Flexible, with monthly payments available.
- Bank Address: Rakuten Bank, Ltd., 1-14-1 Takasago, Sumoto, Hyogo 656-0025, Japan.
- Bank Contact Number: 0120-184-268 (Available from 9 AM to 5 PM, weekdays).
Conclusion
The Rakuten Bank Super Loan offers a convenient and flexible borrowing option for individuals in need of quick financial support.
With a simple application process, low interest rates, and no collateral required, this loan is accessible to many.
Always review the loan terms carefully and ensure that the repayment plan works for your budget.
Disclaimer: Please note that this article is for informational purposes only. The loan terms, interest rates, and application process may vary depending on your creditworthiness and other factors. Always refer to the official Rakuten Bank website or contact their customer service for the most accurate and up-to-date information.
