The average individual's loan will be paid off in five years at the longest; There are monthly installments, and there is no one-time repayment.
Personal microfinance conditions:
1. China citizens with permanent residence in China, permanent residence (or valid residence certificate) in local towns and full capacity for civil conduct;
2. Have a proper occupation and stable economic income (monthly salary income should be above 1 000 yuan), and have the ability to repay the loan principal and interest on schedule;
3. The borrower's unit must be an administrative, enterprise or institution recognized by the lender and having a good cooperative relationship with the lender, and the lender will pay wages on its behalf;
4. Abide by laws and regulations, and have no illegal acts and bad credit records;
5. Other conditions stipulated by the lender.
Expand the application process of personal microfinance: apply for loans from banks; After the bank accepts it, it will evaluate the value of the collateral and approve the loan amount according to the evaluation value; Sign loan contracts, etc. ; Handle real estate mortgage registration; Bank loan.
When applying for a loan, you should provide: proof of marital status, personal or family income and property status and other repayment ability documents; Agreements and contracts related to the purpose of the loan; Guarantee materials, involving the ownership certificate and list of collateral or pledge, and the appraisal report of collateral (pledge) issued by the appraisal department recognized by the bank.
In addition to written materials, there must be collateral. There are many mortgage methods, such as chattel and real estate mortgage, time deposit certificate pledge, securities pledge, movable property pledge with strong liquidity, qualified guarantor guarantee, etc. Small-sum secured loan for starting a business is a policy-based small loan, which is paid by the designated bank!
If you want to choose a regular microfinance company loan, the loan interest rate is more than 4 times higher than the benchmark interest rate, which is an illegal loan. In addition, if the loan contract is not signed in various names before the loan, be careful.
Any loan is based on the borrower's repayment ability, so as long as the loan can be provided unconditionally, it is generally not credible.
Baidu encyclopedia-personal micro-credit loans