Five years have really paid off. Five years means granting credit for five years, and paying the principal plus interest every month until it is settled after five years, not after five years. Now, even if the interest is paid first and then the principal is paid, the principal will be settled once a year/kloc-0, and the loan will be made again at the end of each year during the credit period.
Is the 5-year interest rate of credit loan 37.5% high or low?
High, the bank credit loan interest rate fluctuates according to the central bank's benchmark interest rate. The interest rates of bank credit loans are as follows:
1. The loan interest rate within one year is 4.35%.
2. The loan interest rate for one to five years is 4.75%.
3. The loan interest rate for more than five years is 4.9%.
The loan term of bank credit loans usually does not exceed 5 years, so the loan interest rate fluctuates between 4.35% and 4.75%.
The term of the credit loan is 5 years, and the loan will be repaid in advance after 1 year, and the handling fee will be refunded.
What you want to ask is that the credit loan will be repaid in advance after 5 years, 1 year. Is the handling fee refundable? Return.
If the credit loan is repaid in advance after 1 year, the corresponding handling fee will be refunded, but 3% of the prepayment amount will be charged as liquidated damages.
Credit loan refers to the loan issued by the borrower's reputation, and the borrower does not need to provide guarantee. Its characteristic is that the debtor can get a loan only by his own reputation without providing collateral or third-party guarantee, and the borrower's credit degree is used as repayment guarantee. For a long time, this kind of credit loan has been the main loan method for banks in China.
What is the longest term of bank credit loan?
The longest bank credit loan shall not exceed 5 years. Credit loans are unsecured and unsecured loans, and the loan term cannot exceed 5 years at most, while the longest loan term of general credit loans is usually 3 years. Therefore, users who want to apply for long-term loans, it is best not to apply for credit loans, secured loans and mortgage loans can effectively extend the loan period.
In addition, the interest rate of bank credit loans is higher than that of secured loans and mortgage loans, so credit loans themselves are suitable for applying for short-term loans.
How many years can credit loans last?
You can borrow for five years at most, most credit loans can be borrowed for 1-3 years, and only a few users with excellent credit qualifications can borrow for five years.
Since credit loans are not guaranteed and mortgaged, lending institutions will shorten the loan period to reduce risks. Credit loans are mostly small in amount and short in term, which are more suitable for short-term borrowers than long-term loans.
As different lending institutions have different requirements for the term of credit loans, the loan contract shall prevail.
Bank of China 5-year credit loan
Bank of China provides "personal consumption loans", and the loan conditions include:
1, a natural person who has reached the age of 18 and has full capacity for civil conduct;
2. People of China and citizens of People's Republic of China (PRC);
3. Have a continuous and stable source of income, and have the ability and willingness to repay the loan principal and interest on schedule;
4. The credit status is good, and there is no bad credit record in BOC and its peers;
5 to apply for personal mortgage consumer loans, but also to provide collateral recognized by China Bank as a loan guarantee;
6. You need to open a deposit account with BOC before handling personal consumption loans;
7. Other conditions stipulated by laws, regulations, regulatory agencies and agencies.
As there are differences in business handling in individual regions, please consult the branch of China Bank for details.
The above contents are for your reference. Please refer to the actual business regulations.
So much for the five-year introduction of credit loans.