In general, if you want to apply for personal consumption loans from rural credit cooperatives, you need to meet the following conditions: 1, permanent residence or valid residence status within your jurisdiction; 2. The age is above 18 years old (inclusive), and the sum of the age at the time of applying for the loan and the loan term is not more than 60 years old (inclusive); 3. Have full capacity for civil conduct; 4. Have a proper occupation and stable income, and have the ability to repay the principal and interest on schedule; 5. Personal credit record is good; 6. Meet other conditions stipulated by the credit union.
Rural credit cooperatives are local rural banking cooperative financial institutions managed with reference to the Commercial Banking Law. They are independent in nature, and their business scope is to provide various financial services to rural and urban populations.