What do I need to be aware of when taking out a credit loan?

Credit loans need to go to the national financial institutions for processing, such as the need for other people to do it on behalf of the agency or entrust intermediary access, must be in the regular channels to obtain information, in the regular intermediary service agencies for business. Intermediary service agencies for business, first of all, check whether the business premises is the normal state of operation, followed by requesting copies of business licenses and other relevant qualifications, and finally, the need to sign a service contract before handling the business, if disputes occur, you can use legal weapons to protect private rights and interests.

You can check yourself to see if you are qualified before you apply for it. The following is the information about credit loans that I have compiled for you.

A. Credit loan application channels

1. Banks: Banks are the first choice for most people to apply for credit loans, the advantage is the long term (many banks can do five years), large amounts, low annualized interest rates, the disadvantage is the high application threshold, complex materials. The main targets are people with high quality units (civil servants, state-owned enterprises, central enterprises, Fortune 500, etc.), high-income office workers, business owners who pay taxes, and people with very good credit.

2. Formal microfinance companies: Formal microfinance companies are supplementary channels to apply for credit loans, which have moderate amounts, high annualized interest rates and low application thresholds compared to banks. If you can’t apply for a bank credit loan, you can take the next best thing and apply for a credit loan from a small loan company.

3. formal online loan platform: formal online loan platform is a new credit loan application channels, such as microfinance, ant borrowing, etc.. Some banks can also apply for similar products online, but the loan period of such products is short, generally up to 2 years, repayment pressure is greater, for credit has a certain impact.

Second, the basic conditions of credit loans

1. Natural persons over 18 years of age, with full civil capacity.

2. have a fixed residence in China, a local urban permanent residence or a valid certificate.

3. the borrower has a legitimate occupation and a stable source of income (monthly income needs to be above 5,000 yuan), or is a business owner, an individual businessman, or an enterprise shareholder doing business, and has the ability to repay the loan principal and interest on schedule.

4. good personal credit, generally require that the lender’s credit report can not have more than 6 times overdue, and can not have more than 3 consecutive months of non-payment, credit debt in a reasonable range, credit inquiries are not too many.

5. Proof of relevant property (house purchase contract, car purchase contract, investment plan, etc.) can be said to be a plus point for credit loans, which can assist in proving one’s repayment ability, and banks and financial lenders will increase the loan amount according to one’s assets.

6. Meet the requirements of banks and financial lending institutions to access special cases (common access special cases include academic loans, tax returns, salary flow, provident fund, vehicles, mortgage houses, fully paid houses, business flow)

7. Meet other requirements of various banks and financial lending institutions’ loan products

Third, the credit loan application process (credit products are divided into purely online and offline products)

Online credit loan application process: scan the application code or apply for a bank credit loan on the bank app, fill in the basic information, authorize the bank to query credit and big data and related information required by the bank (such as provident fund information, salary flow information, etc.), the bank online audit, audit completed, if the application is successful, then sign the bank electronic contract, card (most banks can open electronic accounts), online withdraw money.

Offline credit loan application process.

1. Submit materials (application for loan, ID card, account book, proof of employment, proof of income, proof of assets, proof of education, proof of marital status, requirements vary by bank), preliminary examination.

2. Formulate a program to form an investigation report, if passed, it will be considered by the Risk Control Department; if not passed by the bank teacher to communicate and return the information.

3. After the review and lending committee to sign a loan contract and other legal documents, as a legal document for both sides.

4. The staff informs the borrower of the amount, term, interest rate and other details, transfers the money to the borrower’s account and carries out post-loan follow-up management.

5. The contract is cancelled after the repayment is completed.