The approval process of non-bank financial institutions is fast, and lending within three days after approval is normal. Banks, on the other hand, are rigorous in tone and meticulous in style, and generally lend money within 15-20 working days. Therefore, users who are in urgent need of money naturally look to non-bank financial institutions.

loan limit

In terms of loan amount, banks and non-bank lending institutions are evenly matched, and the maximum loan amount is 70% of the assessed value of the mortgaged house.

interest expenses

Loose application conditions mean some kind of bad debt risk. In order to achieve the balance between risks and benefits, high fees naturally become an understandable measure for non-bank financial institutions. On the contrary, in the case of strong risk control, banks naturally dare to throw out lower loan interest rates to attract users.