Non-revolving loan is a normal loan, but after the account applies for a loan once, the account cannot apply for the next loan. No matter whether the customer's loan is in use or not, the interest on the non-revolving account starts from the loan approval. On the other hand, personal revolving loan refers to the personal loan under the maximum mortgage (pledge) mode, and the borrower withdraws money several times and recovers it within the revolving quota and service period agreed in the revolving loan contract.

What does a non-revolving loan account mean? Because non-revolving loans can only be applied once, they are not flexible and liquid. Revolving loan has flexibility and liquidity, and is suitable for individuals or enterprises to operate.

The advantages of revolving loans are as follows:

1. Fast use of revolving loan: revolving loan only needs to be approved once, and the lender will repay the loan within the validity period. A single loan within the maximum amount is directly approved by the authorized approver of the operating bank, and the process is fast and convenient.

2. Preferential interest rate of revolving loan: The maximum loan within the revolving line can be lowered 10% on the basis of the benchmark interest rate.

3. Long credit period of revolving loan: The longest credit period of revolving loan can reach 5 years, and you can continue to apply after the expiration. 4. Long term of revolving loan single loan: The longest maturity date of revolving loan single loan may reach 30 years.

Although the advantages of revolving loan are more obvious, borrowers still need to choose appropriate banks and loan schemes according to their own conditions and combined with banking products.