If you apply for a third-party so-called ICBC credit loan, you need to be cautious at this time, because many non-performing loan products just sell dog meat. This kind of loan products do not belong to the banking system, but only private loans. In other words, you need to comprehensively evaluate the main body of current credit loans.
First of all, let me help you calculate the interest on this credit loan.
The monthly interest rate of this credit loan is 2.5, which you can understand as 0.25% per month. If this interest is converted into annualized interest, the annualized interest of this loan product is 3%. 3% is a relatively low loan interest. At present, the annualized interest rate of 3% on the market is basically only mortgage loans, and it is difficult for credit loans to achieve this level.
Second, you need to further evaluate the main body of current credit loans.
I can give you a data reference. The annualized interest of credit loans is generally above 5%, personal housing loans are generally between 5% and 7%, and credit cards are generally around 18%. Because your annualized interest rate is only 3%, and it is a credit loan, I think it is necessary for you to further determine the main unit of the loan. If this is a regular bank loan, your loan is usually enterprise credit loans.
Third, you should be careful about private lending.
Because many private lending will make various routine behaviors, sometimes it will attract users on the grounds of low annualized interest. The interest of normal credit loans is generally above 10%, and the annualized interest of some special formal loans may be lower. But in any case, I strongly advise you not to apply for private lending, because there are too many routines for private lending, and the real annualized interest rate is also very high. When you have financial problems, you can easily get involved in the whirlpool of debt.