Personal loan tips |
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1. What is a personal loan?
Personal loans refer to local and foreign currency loans issued by banks or other financial institutions to natural persons who meet the loan conditions for personal consumption, production and operation.
2. What types of personal loans are there?
Personal loans include personal housing loans, personal housing provident fund loans, personal auto loans, individual study loans, personal comprehensive consumption loans, personal production and operation loans, personal credit loans, and personal deposit certificates (national debt) pledge loans.
3. What is a small credit loan for farmers?
The micro-credit loan of the farmer refers to the loan that the credit cooperative does not need to mortgage or guarantee to the farmer within the approved quota and time limit according to the creditworthiness of the farmer. It is applicable to farmers and self-employed households who are mainly engaged in rural land cultivation or other production and management activities related to rural economic development.
4. What is a national student loan?
National student loans are government-led bank loans to help poor families in colleges and universities. Borrowing students do not need to apply for loan guarantees or mortgages, repay the loans on time after graduation, and bear the corresponding legal responsibilities.
5. What issues should I pay attention to when applying for personal loans?
1. The amount of the loan application must be measured by force. Usually, the monthly repayment amount should not exceed 50% of the total household income;
2. The use of the loan must be legal and compliant, and the background of the transaction must be true;
3. According to your repayment ability and future income expectations, choose the repayment method that suits you;
4. Provide information to the bank to be true, provide the address and contact information of the person to be accurate, and notify the bank in time when the change occurs;
5. Read the contract terms carefully to understand your rights and obligations;
6. Repay on time to avoid bad credit records;
7. Don't lose the loan contract and the loan. For the mortgage loan, don't forget to cancel the mortgage registration after paying off the loan.
6. What problems should I pay attention to when using personal loans?
1. Personal loans must have a clear purpose, and should comply with laws and regulations and relevant state policies. The trading background is real and must not be fictitious in terms of trading background and loan use;
2. The use of personal loans shall follow the principle of good faith and conform to the purposes stipulated in the loan contract. According to the current national regulations, the loan funds shall not enter the fields prohibited by the state, such as the stock market and real estate development.
3. If the loan purchases a house, it shall apply for a personal housing loan in accordance with the state regulations. According to the current national regulations, consumer loans are prohibited from being used for the purchase of housing.
7. Fixed interest rate and floating interest rate
Fixed interest rate refers to the interest rate that is not adjusted during the loan period, that is, the interest rate set at the time of signing the loan contract. The borrower is fixed according to the market interest rate during the loan period. Interest rates pay interest. The floating rate is the rate that can be adjusted periodically during the borrowing period. According to the agreement between the borrowers and the borrowers, they are adjusted according to the market interest rate during the loan period. Currently, according to the loan contract, they are generally adjusted according to the changes in the market interest rate on January 1 of each year.
8. What are the repayment methods?
The repayment method refers to the way in which the borrower repays the principal and interest of the loan, and the interest is calculated based on the amount of the remaining principal of the borrower. Different repayment methods determine the speed at which the principal is returned, which results in a difference in the total amount of interest paid. The principal of the equal principal and interest repayment method increases month by month, the interest decreases month by month, and the monthly repayment amount remains the same; the principal of the equal principal repayment method remains the same, the interest decreases month by month, and the monthly repayment amount decreases. Compared with the two, in the case of the same loan term, amount and interest rate, in the initial stage of repayment, the amount of the same principal repayment method will be returned more than the equivalent principal and interest. However, according to the entire repayment period, the equal principal repayment method will save the loan interest expenses.
Generally speaking, the equal principal repayment method is suitable for borrowers who have a certain economic foundation, can bear the pressure of large repayment in the previous period, and have an early repayment plan. The equal principal and interest repayment method is to return the same amount every month, which is convenient for arranging income and expenditure. It is suitable for borrowers whose economic conditions do not allow excessive repayment of previous repayments and whose income is relatively stable.
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