Yes, because they also need to use your bank card to authorize monthly repayment to automatically deduct the interest and principal of that month.

Is it true that microfinance companies only need ID cards and bank cards for loans, and there is no upfront fee?

It's true.

What is a microfinance company?

Compared with banks, small loan companies are more convenient and faster, and are suitable for the capital needs of small and medium-sized enterprises and individual industrial and commercial households; Compared with private lending, microfinance is more standardized, and loan interest can be negotiated by both parties.

A small loan company is an enterprise legal person, which has independent legal person property, enjoys legal person property rights, and bears civil liability for its debts with all its property. Shareholders of small loan companies enjoy the right to return on assets, participate in major decisions and choose managers according to law, and are liable to the company to the extent of their subscribed capital contribution or subscribed shares.

Small loan companies shall abide by national laws and administrative regulations, implement national financial policies, implement financial standards and accounting systems of financial enterprises, and accept the supervision and management of governments at all levels and relevant departments according to law.

Small loan companies should implement the national financial policies, conduct business within the scope prescribed by laws and regulations, operate independently, be responsible for their own profits and losses, operate independently, and bear their own risks. Their legitimate business activities are protected by law and are not subject to interference by any unit or individual.

Since the development of microfinance companies in China, the financing problem is often an obstacle to their development, but the microfinance companies that have been hungry for funds for a long time are welcoming nectar one after another. According to the rough statistics of relevant public information, Zhejiang, Guangdong, Chongqing, Xiamen, Hainan and other regions have relaxed the financing channels of microfinance companies, including allowing the transfer of credit assets through repurchase.

On February 26th, 20 10, Zhou Xuedong, director of the Department of Law and Law of the People's Bank of China, said that the central bank intends to cancel the control on the upper limit of the loan interest rate of microfinance companies and legalize some existing non-bank private lending institutions. According to the current regulations of the central bank, the upper limit of the loan interest rate of microfinance companies is four times the benchmark interest rate.

Benchmark for setting loan interest rate of microfinance companies:

1, determined independently according to market principles.

2, the upper limit-let go, but not more than 4 times the bank loan interest rate in the same period.

3. Lower limit-0.9 times of the benchmark loan interest rate announced by the People's Bank of China.

Can I get a loan without a bank card?

There should be no way to borrow money without a bank card, because generally going to the bank to borrow money will put the money into the bank card account. If you don't have a bank card, the bank can't give you the borrowed money. If you really want to borrow money, you can find some online lending platforms. Some online lending platforms can transfer the loan amount to Alipay and other accounts, so there must be Alipay, Tenpay and other accounts without bank cards. At the same time, some small loan companies may be able to provide cash loans.

The simple and popular understanding of loan is to borrow money with interest.

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 and interest subsidies? A general term for borrowing funds such as overdraft. 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.

Principle:

The "three principles" refer to safety, liquidity and efficiency, and are the fundamental principles of commercial banks' loan operation. Article 4 of People's Republic of China (PRC) Commercial Bank Law stipulates: "Commercial banks should operate independently, bear their own risks, be responsible for their own profits and losses, and be self-disciplined, and take safety, liquidity and efficiency as their operating principles."

1, loan security is the primary problem faced by commercial banks;

2. Liquidity refers to the ability to recover the loan within a predetermined period or realize it quickly without loss of land, so as to meet the needs of customers to withdraw deposits at any time;

3. Efficiency is the basis of sustainable operation of banks.

For example, if a long-term loan is issued, the interest rate will be higher than that of a short-term loan, and the benefit will be good. However, if the loan term is long, the risk will increase, the security will decrease and the liquidity will weaken. Therefore, the "three natures" should be harmonious, so that there can be no problem with the loan.