According to the feedback from users, Meng Xin Credit is automatically approved by the system, and the approval speed is relatively fast, and there is basically no telephone call back. Therefore, after the user submits the approval, as long as the credit line is obtained after the approval, it can be received on the same day. Meng Xin enjoys the daily interest rate of three ten thousandths and the annualized interest rate is 10.95%. If the service life of the loan of 30,000 yuan is 12 months, it needs to repay about 33,000 yuan after maturity.

superiority

1. The annual interest rate of ordinary banks with high compound income is only 3%, and wealth management products and trust investments are generally below 10%, which cannot be compared with the annual interest rate of online loan products above 20%. All the processes of authentication, bookkeeping, clearing and delivery of simple online loans are completed through the network. Both borrowers and lenders can achieve the purpose of lending without leaving home, and generally the amount is not high and there is no mortgage.

2. It is convenient for both borrowers and borrowers. Enlightened online lending promotes the interaction between industry and finance, and also changes the observation horizon, thinking context, credit culture and development strategy of loan companies, breaking the original lending situation. Disadvantages: unsecured, high interest rate and high risk. Compared with the traditional loan method, online loan is completely unsecured.

3. Moreover, the central bank has made it clear for many times that the annual compound interest rate exceeds the bank interest rate by four times and is not protected by law. It also increases the high risk of online lending (generally 7 times or even higher than the bank interest rate). The inherent capital of credit risk online lending platform is small, so it can't undertake large amount of guarantee. Once there is a large loan problem, it is difficult to solve it. Moreover, some borrowers also make loans for the purpose of fraudulent loans, while the founders of the loan platform have some ulterior motives, and cases of absconding with money also occur frequently. Lack of effective supervision means Because online lending is a new type of financing means, the central bank and the China Banking Regulatory Commission have no clear laws and regulations to guide online lending. For online loans, the regulatory authorities are mainly neutral, do not violate the rules, and do not recognize them. However, with the prevalence of online lending, it is believed that relevant measures will be formulated and implemented in time.