Extended data
Term of bank loan:
According to the length of the loan period, loans can be divided into short-term loans and medium-and long-term loans.
1, short-term loans with a term of 1 year or 1 year (temporary loans for more than 3 months and less than 6 months) are characterized by short term, low risk and high interest rate. They are usually issued in the form of "borrowing" and are mainly used to meet the needs of borrowers for short-term funds.
2. Medium-term loans with a term of over 1 year (excluding 1 year) and less than five years (including five years) are characterized by long term, high interest rate, poor liquidity and high risk.
3, long-term loans for more than 5 years (excluding 5 years), the longest is 30 years.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development; At the same time, banks can also obtain loan interest income and increase their own accumulation.
The loan term refers to the period from the time when the lender issues the loan to the borrower to the time when the loan is recovered. It is the time limit for the borrower to actually use the loan.
Generally speaking, personal loans need to meet the following basic conditions:
1, at least 18 years old, with full capacity for civil conduct and valid residence certificate and identity certificate;
2. Have a stable legal income and proof, and have the ability to repay interest;
3. When the loan business requires a down payment, it has the ability to pay the full down payment;
4. If the personal loan amount is large, the collateral conditions required by the bank shall be met;
5, such as credit loans, need to have a good reputation;
6. Other conditions meeting the requirements of the bank.