Consumer loans are not fixed platform loans. Consumer loans are loans provided by commercial banks or financial service institutions recognized by relevant state institutions for personal consumption. Consumer loans are highly targeted and specific, such as personal housing loans, personal student loans and personal travel loans. The loan procedures for consumer loans are also relatively simple. As long as borrowers have good personal credit and repayment ability, they can usually get loans smoothly.

Advantages and disadvantages of consumer loans

Consumer loan is a double-edged sword, with advantages and disadvantages. If consumers' demand for funds is limited to time, and consumer loans can solve the problem of short-term capital demand and play a supplementary role in funds, then consumer loans are beneficial to the country, society and borrowers; However, if consumers' material desires are met through consumer loans, and they do not have enough repayment ability, then consumer loans can only accumulate debts, destroy personal credit information and increase social risks. These are the drawbacks of consumer loans.