The difference between credit loans and unsecured loans
Unsecured loan means that there is no need for collateral, and the applicant can apply for a loan only by submitting other effective relevant materials.
Credit loan means that the loan bank provides loans with the credit of the applicant and determines the amount. The loan applicant doesn't need to mortgage anything. It can be considered as two different loan terms called from different directions. Therefore, it can be said that personal credit loans are unsecured loans, but the terms are different and there is no difference in essence. The loan operation is completed through the examination of personal credit qualification.
Characteristics of credit loans
1, credit affects the loan interest rate.
With the improvement of people's awareness of personal credit, banks are more and more willing to handle credit loans for customers, because the better the quality of personal credit, the less the risk of bank lending. Therefore, many commercial banks have also launched their own credit loan products. The accumulated data shows that no matter how other conditions for applying for different banks change. Personal credit is also the main factor affecting the loan interest rate, that is to say, banks are more willing to lend money to customers with good personal reputation at a lower interest rate.
2. Credit affects the loan amount
In addition to the loan interest rate, the borrower is most concerned about the amount of the loan applied for. At present, the maximum credit loan amount is generally 500,000 yuan, and the minimum is about 8,000 yuan. Generally speaking, the maximum loanable amount of credit loan products with lower total interest is also relatively low. Moreover, good personal credit will also allow banks to relax a certain amount of loans.
3. The loan term is different.
In terms of loan life, personal credit loans are basically the limit of short-term loans. Loan applicants can apply for repayment periods ranging from 6 months to 60 months, which can meet the consumption and repayment needs of different groups of people. The length of the loan period will affect the borrower's monthly repayment amount. The longer the time, the less the monthly payment and the less the pressure. The loan applicant can choose the repayment period that suits him according to his actual situation.
In fact, there is a certain difference between credit loans and unsecured loans. Unsecured loans can be applied to banks without any collateral. However, for credit loans, the borrower must have a certain credit, and the bank also determines the amount according to the borrower's credit. If you have this demand, you can refer to the above contents in detail, which will definitely help you.