Automatic loan renewal is a long-term loan. Automatic liquidation is generally a short-term working capital loan.
Renewing loan is a term in the field of banking and finance, which means that there was a bank loan before, and now we continue to borrow another sum of money with credit and corresponding guarantee. Working capital loan renewal is the behavior of continuing to issue working capital loans to customers. Automatic loan renewal refers to the automatic transfer to the next loan after the loan expires.
What does it mean to renew a loan without repayment?
The so-called non-repayment of loans means that banks support qualified small and micro enterprises to automatically renew loans or extend the use period of loan lines based on the historical data and behavior evaluation of corporate customers before the loan expires.
1. What does it mean to renew the loan?
1. Renewing loans is a statement in the field of banking finance. It means to continue to borrow another sum of money with credit and corresponding guarantee.
1. What does it mean to renew a bank loan?
1. Bank loan renewal means that users reapply for the loan they have applied for and continue to issue another loan according to the borrower's credit status and corresponding guarantee measures.
2. Bank renewal is the most commonly used loan method for banks and borrowers, which is suitable for users who still need funds. As a way of credit financing, bank loans, whether credit loans, secured loans or mortgage loans, must be repaid on time.
Second, do banks need to re-evaluate the renewal of loans?
1. There is no need to re-evaluate the extension of bank loans. However, it is difficult for banks to renew their loans, which are generally provided specifically for old and high-quality customers of banks.
2. Bank loans can be divided into short-term loans, medium-and long-term loans and long-term loans according to the loan term. No matter what type the user applies for, it is necessary to provide information.
Three, the bank loan renewal is to repay the loan:
1. Renewing bank loans generally means applying for loans after paying off the previous loans, rather than continuing to apply for loans on the original basis. If the user's loan expires but cannot be repaid, he can choose to extend the repayment period, which can extend the repayment period, but interest will still be generated during the extension period. The extension can generally be extended for six months.
2. Therefore, users must settle the last debt when applying for bank loan renewal, otherwise the bank will not allow users to submit loan renewal applications.
Four, what is the bank loan extension:
1. Loan extension simply means that there is no need to repay after the loan expires, and the service life of the loan can be extended and the repayment can be postponed after approval by the bank.
2. Loan extension is generally due to the borrower's inability to repay the loan on schedule due to special circumstances such as temporary shortage of funds, delayed payment, and delayed production period due to objective reasons. As a result, the borrower's enterprise or individual cannot repay the loan and needs to use the borrowed funds for a period of time. Therefore, the borrower can apply to the bank for an extension, explain in detail the reasons for the extension, as well as the source of repayment funds and repayment plan after the expiration of the extension in the future, and go through the loan extension procedures after the approval of the loan bank.
The difference between renewing loans and borrowing new ones to return old ones.
First of all, an affirmative answer.
The difference between renewal and initial loan mainly lies in three aspects: loan materials, loan process and loan approval, as follows.
Second, the specific analysis
1, loan materials
The materials needed for the first loan of student loan include: application form for student loan, identification form for students with financial difficulties, borrower's ID card, co-borrower ID card, household registration book, college admission notice and copies of these materials.
The materials required for student loan renewal are: loan renewal application form, loan renewal statement, borrower's ID card, co-borrower ID card, household registration book, student ID card and copies of these materials.
Compared with the first loan, it is no longer necessary to renew the loan, but it is necessary to fill in a renewal statement to show the current situation of family financial difficulties and strong attitude towards learning.
2. Loan process
For the first loan, students who need to borrow money and co-borrower go to the local county financial aid center to submit loan applications. After the county financial aid center passes the preliminary examination, it will issue a loan acceptance certificate, so that students can take it back to school and give it to the teacher to complete the receipt entry of loan information, and then wait for the approval of the bank to arrange loans.
When the student loan is extended, either the borrower or the co-borrower only needs to go to the local county-level financial aid center. The county funding center will confirm the loan renewal statement, and after the first trial is passed, it will issue a loan renewal acceptance certificate. The subsequent process is basically the same as the first loan.
Compared with the first loan, the process of renewing the loan is simpler, and it is no longer necessary to determine the financial difficulties of the family. You can complete the loan renewal application through the student online system.
3. Lending approval
When the student loan is issued for the first time, the object of bank approval is a stranger, and it takes more manpower and material resources to confirm this person's family economic status and credit status, so the approval time will be longer.
When the student loan is renewed, the object of the bank's approval is its own past, and all aspects of information are already very familiar, so the approval process will be smoother.
Compared with the first loan, the approval rate of renewal loan will be higher.
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3. What is the difference between the first loan and the second loan of housing provident fund?
The difference between the first loan and the second loan of housing provident fund is.
1, different loan interest rates: the first loan interest rate of housing provident fund is based on the benchmark interest rate of housing provident fund loans, and the second loan interest rate is 1. 1 times of the benchmark interest rate, so the first loan interest rate of housing provident fund is lower than the second loan interest rate.
2. The down payment ratio is different: the down payment ratio of the first loan of housing provident fund is as low as 20%, while the down payment ratio of the second loan is usually higher than 20%. The specific down payment ratio is subject to the regulations of the local provident fund center.
It should be noted that the down payment ratio will be different in different purchase areas. Please refer to the regulations of the local provident fund center for details.
3. Different loan amount: For the first loan of the housing provident fund, a part of the loan amount can be increased beyond the upper limit of the loan amount.
As for the second application for provident fund loans, the loan amount is the upper limit of the provident fund loan amount.
Do I need to pay off the loan before I can renew it?
Whether it is necessary to pay off the previous loan before renewing the loan depends on the requirements of the lending institution. If the lending institution requires the user to pay off the previous loan before renewing the loan, the user needs to pay off the previous loan before renewing the loan. If the lending institution does not require it, they can apply for a loan without paying off the previous loan. Please consult the staff of the lending institution for details. It should be noted that the renewal of bank loans generally requires users to pay off their debts before they can apply again, otherwise the bank will refuse the loan.
Renewing the loan is a new loan business, and a new loan contract needs to be signed. Therefore, there is no conflict between the previous loan contract and the loan extension without explicit requirements from the lending institution. Of course, considering that signing loan contracts for many times will lead to the borrower's high debt ratio, which is not conducive to the recovery of loan funds, some lending institutions will require users to pay off their previous loans before renewing them.
No matter whether it is necessary to pay off the previous arrears when applying for loan renewal, the application for loan renewal must be reviewed by the lending institution. If the review fails, the loan cannot be renewed.