What is personal credit?

Personal credit business mainly refers to the business of using funds raised from debt business to transfer the right to use the funds to individuals within a certain period of time for a fee, and to recover the principal and interest of the funds when the loan matures to obtain income. .

Personal credit, also known as unsecured borrowing. No collateral is required, only proof of identity, proof of income, proof of address and other materials (the specific proof materials will depend on the bank). The bank applies for a loan. The bank issues the loan based on the individual's credit situation, and the interest rate is generally slightly higher. For mortgage business, customers can choose the loan period based on their specific personal circumstances, and then sign a contract with the bank, which is guaranteed.

Application conditions:

1. Chinese citizens who have a fixed residence in China, permanent residence in a local town, and full capacity for civil conduct;

2. Have a legitimate and good occupation with stable economic income, and have the ability to repay the principal and interest of the loan on time;

3. Abide by laws and regulations, have no illegal activities or bad credit records;

4. In There is no negative record on the national credit record.

Business classification:

1. According to the different uses of personal credit, it can be divided into personal home purchase loans, car loans, study abroad loans, student loans, personal consumption loans, and personal business loans. Loans etc.

2. According to the different repayment methods of personal credit, it can be divided into installment loans and lump-sum loans. The former includes equal principal, equal principal and interest, installment interest and one-time principal repayment. The repayment methods include equal increments, equal decreases in principal and combined repayment methods.

3. According to the different personal credit terms, it can be divided into medium, short-term credit and long-term loan. Short-term loans are within one year, medium-term loans are between one and five years; and long-term loans are generally more than five years, mostly between twenty and thirty years.