Huimin loan is a personal credit loan product launched by Bank of Communications for the working class. At present, the maximum loan amount provided by Huimin Loan is 300,000. When applying for a loan, the applicant does not need mortgage and guarantee. At present, users who need to borrow money can only apply through Bank of Communications mobile banking. Users can complete the whole loan process and apply for a loan through their mobile phones. Applicants need to fill in the relevant information of the loan as required. Generally, if the borrower's information in the application is filled in correctly and in detail, the review speed will be faster. According to the official introduction of Huimin Loan, the review process can be completed in 1-3 working days, and the specific review time is subject to the actual situation. If the borrower wants to get a higher loan amount, it is suggested that more financial information can be filled in when filling in the information. After the approval, the Bank of Communications Huimin Loan Association will make payments and loans. When using the loan, the user shall repay the loan in accordance with the regulations or in advance. At present, there is no handling fee for prepayment of Huimin loan.

Is the interest rate of Bank of Communications Huimin loan high?

According to the official introduction of Bank of Communications, if users only open Huimin loans, there is no interest for users not to use Huimin loans. If users use Huimin loans to spend or withdraw cash, then borrowers have to pay interest. At present, the interest of Bank of Communications Huimin loan is determined according to the actual situation of the borrower, and the loan interest rate of each person may be different. At present, the interest of Bank of Communications Huimin loan is calculated by the day, and the interest is calculated by the day. It is understood that the current daily interest rate of some people in Huimin Loan is below 0.02%. If the borrower repays the loan on the same day, there is no need to pay interest. If it repays the loan the next day, it needs to pay the interest fee of 1 day.

If the loan 10000 yuan is repaid on 10, then the borrower actually only needs to pay the interest for 9 days, and the interest to be paid is 10000*0.02%*9= 18 yuan. If users have long-term capital needs, they can use the Bank of Communications Huimin loan to repay in installments, which can be divided into 36 installments at the longest. When the user chooses installment, the Huimin loan system will automatically help the user calculate the monthly interest and repayment amount. Users can use Huimin loan after handling the loan.