Loan terminology:

1. Three in a row and six in a row: "Three in a row" refers to overdue repayments for three consecutive months, while "six in a row" refers to a cumulative six overdue payments. Repayment.

2. %: If someone tells you that the monthly interest rate is 8%, do you know what it means? In fact, centimeter is a common interest term for private loans. One yuan is 1000 cents, so the loan interest rate of 8% refers to the monthly interest rate of 8 thousandths, that is, the monthly interest rate is 0.8. If you borrow 10,000 yuan, the monthly interest is 80 yuan.

3. White accounts and black accounts: White accounts refer to users who have never had credit business with financial institutions. The credit report is basically blank except for personal information. Black accounts refer to extremely bad credit, such as having three consecutive bad debts, being overdue for more than 90 days, bad debts, compensation and other records.

4. Equal principal and interest, equal principal: Equal principal and interest means repaying the principal and interest in the same amount every month. Equal principal means repaying the principal in equal amounts every month, but the interest will be different, so The repayment amount will also be different. The total interest is equal amounts of principal and interest > equal amounts of principal.

5. Revolving quota: Many lending institutions will give borrowers a fixed quota, which can be borrowed and repaid at any time within a certain period. For multiple borrowings, the quota can be restored immediately after repayment.

6. Multi-loan: refers to the borrower applying for loans from multiple banks, financial institutions or private loan companies at the same time.

7. Head-cut interest: This means that the lender deducts a portion of the principal in advance before lending. If the borrower’s actual payment does not match the contracted loan amount, the institution calculates interest based on the contracted principal. shall prevail.

Loan Notes

1. Borrowing Amount:

When applying for a loan, the amount applied for should not be too high. The larger the loan amount, the more likely it is that the loan will be rejected. The possibility will be higher. At the same time, borrowers must apply for a loan amount based on their repayment ability to avoid financial pressure caused by too high monthly payments.

2. Borrowing information:

Borrowers must ensure that the information they provide to the lending institution is true and complete. Once suspected of fraud, the lending institution will directly refuse the loan.

3. Purpose of loan:

When filling in the purpose of the loan, the borrower should write down the purpose of the loan candidly and clearly, which will make it easier to pass the review.