As a newcomer to the loan, there is a lot to understand, because there are too many pits in the financial industry, a little inattention may step on mines, it is necessary to reserve some knowledge in advance. Today Lao Luo will give you a brief introduction to the basic loan knowledge, so that you can better understand the loan.

A. What is credit

Credit is a credit loan, refers to the borrower's creditworthiness to免tu網上貸款過數 issue loans, the borrower does not need to provide security, only with their creditworthiness to obtain loans, and the borrower's creditworthiness as a guarantee of repayment.

II. Loan Classification

 Loans can be classified into credit loans, secured loans (guaranteed loans, mortgage loans, pledged loans), and discounted bills, depending on the creditworthiness of the borrower.

Loans can be divided into working capital loans, fixed asset loans, industrial loans, agricultural loans, consumer loans and commercial loans according to the purpose of the loan.

 According to the different loan subjects, the loans can be divided into three types: self-operated loans, entrusted loans and specific loans.

III. Conditions of Personal Loans

The borrower is a citizen of the People's Republic of China with full civil capacity or a natural person outside the country who meets the relevant state regulations.

The use of the loan is clear and legal.

The borrower has the will and ability to repay the loan.

The borrower has a good credit standing and no significant adverse credit history.

Other conditions required by the lender.

IV. Information to be prepared for the loan.

Valid identity documents

 Proof of permanent residence or valid proof of residence, and proof of fixed residence.

 Proof of marital status.

Bank flow.

Proof of income or proof of personal asset status.

Credit report.

Plan or statement of use of loan purpose.

Other information required.

V. Loan Process

1. Borrowers submit loan applications.

2. Review the conditions of the borrower (including the ability to repay, integrity status, security status, collateral ratio, risk level, etc.)

3. After risk evaluation and approval, the contract is signed and the loan is issued.

VI. Notes for loan application

The loan amount applied for should be within your means, and usually the monthly repayment amount should not exceed 50% of the total household income.

The use of the loan should be legal and compliant, and the background of the transaction should be true.

Choose a repayment method that suits your needs based on your repayment ability and future income expectations.

 Be truthful in providing information, accurate in providing one's address and contact information, and promptly notify the bank of any changes.

Repay the loan on time to avoid bad credit records.

VII. Notes on loan usage

The personal loan should have a clear purpose and comply with the laws and regulations and relevant state policies, and the transaction background should be true, and no fictitious transaction background or loan use should be made.

The use of the personal loan should be in accordance with the use agreed in the loan contract, and according to the current state regulations, the loan funds should not be illegally entered into the stock market, real estate development and other areas that are explicitly prohibited by the state.

 If you take out a loan to purchase a house, you should apply for a personal housing loan in accordance with the state regulations, and according to the current state regulations, consumer loans are prohibited to be used for the purchase of housing.

For newcomers to the loan industry, it is normal to be apprehensive about the loan process and what lenders will review. But with a basic understanding of loans, you will find that loans are actually not as difficult as you might think.

In addition to having the basic application requirements, the most crucial thing is to keep a good credit record, borrow according to your own repayment ability, and make sure that you borrow and repay. Good credit will not only increase your loan amount, but also enjoy low interest rates to reduce the cost of the loan.

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