1. What is microfinance?
Personal small short-term loan refers to the RMB funds issued by the lender to solve the temporary consumption needs of the borrower, with a term of less than 1 year and an amount of less than 300,000 yuan, and no guarantee is provided. The term of personal microfinance is generally less than 6 months, not exceeding 1 year, of which the term of credit loan is not more than 6 months; The loan amount is 500,000 yuan, including 200,000 yuan for single-family credit loan; The loan interest rate rises by more than 40% on the basis of the benchmark interest rate, and by credit, it rises by more than 80%.
2. What are the basic conditions for bank microfinance?
1, a resident of Chinese mainland, can provide personal identification, such as ID card and household registration book.
2. Have a fixed address and place of work and business, and can provide proof of address.
3. Good reputation and no bad credit record.
4. Have the ability to repay debts, have a stable source of work or economic income, and have a good willingness to repay. =
5. Abide by the financial laws and regulations of China.
3. What should I pay attention to when applying?
1. Is the agent certificate complete?
The establishment of small loan companies is approved by relevant departments, and the number is very limited. Therefore, when choosing loans from non-governmental organizations, we must first check whether the relevant documents of the company are true and complete.
2. Is the lender an individual or an enterprise?
Because handling loans is a key control and management business in the financial industry, individuals generally do not have the qualification of agents, so they must apply for loans from formal and legal banks and financial institutions or other financial institutions that can issue loans.
3. Can I mortgage my ID card?
Many lending institutions flaunt that they can apply for unsecured loans with their ID cards. In fact, many of them are fake. Many fraudsters use this unsecured loan as an excuse to obtain the effective information of the borrower, and then use online banking to take away the lender's funds, so be careful of those institutions that claim to be able to apply for loans with ID cards.
Is the interest rate too high?
At present, the state stipulates that the annual interest rate of private lending should not be higher than 4 times the national benchmark interest rate, otherwise it will be usury and not protected by the state. Be careful of lending institutions with high interest rates.