Do banks need collateral for small loans?
In most cases, the bank's micro-loans are online consumer credit loans and pure credit loans by default, and the borrower is not required to provide mortgage or guarantee. But some banks' small loans are mortgages. For example, the mortgage loan in the fast loan of CCB requires the borrower to show the collateral.
The credit line of online consumption micro-loans in most banks is1-200,000 yuan, which mainly serves ordinary users of the bank.
A borrower who wants to apply for a small loan from a bank must be a citizen with full civil capacity. Generally, it is required to be between 18 and 60 years old, and some banks will limit it to between 25 and 50 years old. Have a fixed residence or permanent residence in the local town. Without a bad credit record, loan funds cannot be used for stock trading, house purchase and other channels.
Borrowers who meet the requirements of bank microfinance can apply directly on the bank mobile app and submit relevant materials according to the prompts. Micro-loans are generally systematically audited, and the audit speed is very fast. Basically, the approval result will be issued within 1 hour, and the loan will be received on the same day.
It should be noted that small loans from banks can only be used for consumption channels. Borrowers are advised to collect the coupons when using them. In case the bank lets the borrower upload it, there is no way to upload it.
The above is "Do banks need mortgage for small loans?" I hope I can help you!