As we all know, it is very common for people to apply for loans now, because financial services have entered ordinary people's homes, and many people's consumption concepts have also undergone important changes. Among them, unsecured loans are a very popular loan product, and many people don't know the interest rate of unsecured loans. So, what are the unsecured loan policies? What are the advantages and disadvantages of unsecured loans?
what are the unsecured loan policies?
Personal unsecured loans, that is, loans can be applied with personal credit conditions without collateral. The specific loan conditions are as follows.
1. The applicant is over 18 years old and has independent civil capacity;
2. Have a stable job and income, and have certain repayment ability;
3. The personal debt ratio should not be too high, otherwise the repayment ability will be affected;
4. Have certain financial proof, such as real estate license, vehicle driving license, financial management certificate, large deposit, etc.
5. Personal credit information is good and there is no bad credit record.
what are the advantages and disadvantages of unsecured loans?
1. From the point of collateral
unsecured loans need not be mortgaged in kind, while mortgage loans need real estate as collateral, and the real estate is required to be purchased in full or the loan has been settled.
2. Judging from the loan amount,
unsecured loans can generally be 1-15 times of the running water certificate, usually 3, to 4,, and the amount of mortgage loans is generally 7% of the mortgaged real estate assessment price, which can reach tens of millions. The advantages of mortgage loans are obvious.
3. From the loan interest rate
The interest rate of unsecured loans is generally 7.9%-9.9%, and the interest rate of mortgage loans is generally 5.94%, which is lower than that of unsecured loans.
4. From the perspective of loan life,
unsecured loans can be loaned for up to 4 years, and mortgage loans can be loaned for up to 2 years, and mortgage loans win.
5. From the perspective of lending time,
After the unsecured loan is approved successfully, the loan can be released on the same day, and the mortgage loan usually takes 1 working days, and the unsecured loan wins.
6. Judging from the strictness of the borrower's audit,
Because unsecured loans have no collateral, the borrower's qualification is very strict, and the mortgage loan is slightly looser than unsecured loans.
7. Judging from whether a certificate of use is required,
unsecured loans do not require the borrower to provide a certificate of use, while mortgage loans require the borrower to provide a certificate of use, and only when the bank provides proof of purchase, car purchase, study abroad, decoration, etc., can it be seen that unsecured loan funds are relatively widely used.
8. From the perspective of operable banks,
Unsecured loans can only be operated by individual foreign banks and domestic banks, while mortgage loans are relatively common and can be operated by both domestic and foreign banks.
That's all the information I have explained to you about the unsecured loan policy and the advantages and disadvantages of unsecured loans. I hope I can help friends in need. Unsecured loans are a common business now, and we should understand their advantages and disadvantages when handling unsecured loans.