Rural credit cooperatives personal loan application conditions are as follows:

1. The borrower is a citizen of People's Republic of China (PRC) with full civil capacity;

2. The purpose of the loan is clear and legal;

3. The loan application amount, term and currency are reasonable;

4. The borrower has the willingness and ability to repay;

5. The borrower has good credit status, good moral quality, law-abiding and no major bad credit record;

6 have a stable economic income and the ability to repay the principal and interest of the loan on schedule;

7. Opening a current deposit account in rural credit cooperatives can provide effective guarantee and mortgage (pledge) guarantee recognized by rural credit cooperatives;

8. Other conditions required by the lender.

Extended data

Loan risk

1. When rural credit cooperatives collect loans through litigation, they do not carefully examine the basic situation of the parties, and some parties no longer have the main qualifications, which increases the risk of loan recovery.

2. Lenders are lax in examining loans, and some borrowers sign loan contracts or guarantee contracts with financial institutions under the guise of others, resulting in loans that cannot be recovered in the end.

3. The post-lending supervision mechanism of financial institutions is not perfect, and post-lending management is neglected, and even collection is not allowed. Only when the limitation period expires or it is critical, it is found that the whereabouts of the borrower and even the guarantor are unknown, and there is no hope of loan recovery, resulting in non-performing loans.

Refer to Baidu Encyclopedia-Personal Loan

Refer to Baidu Encyclopedia-Rural Credit Cooperative Loan