There are many loan platforms in the market. Only by choosing a formal and reliable platform for loan can personal information security and property security be guaranteed. The interest rates of formal loan platforms are within the range allowed by the state, and they will not charge excessive interest, which can effectively reduce the loan cost.

The formal loan platform has the characteristics of formal application channels, no need to repay in advance, reasonable interest rate and legal business license. If you are not sure whether the platform is formal, it is recommended to choose bank loans, loan products from well-known enterprises and loans from consumer finance companies.

2. Understand the loan conditions and application materials.

The loan application needs to meet the relevant loan conditions of the loan platform, and prepare and submit relevant application materials. It is suggested to contact the loan platform in advance for the first loan to understand the specific loan situation and improve the loan application rate and loan efficiency.

Under normal circumstances, the loan requires the borrower 18-60 years old, with good credit, stable work income, and can provide application materials such as identity certificate, residence permit, bank account, salary income certificate and personal credit report.

3. Choose a reasonable loan amount

The loan amount will affect the repayment interest and the total monthly repayment. If you apply for a loan amount that exceeds your ability, the repayment pressure is great, and it is easy to fail to pay it back within the time limit, resulting in personal credit damage, and it is difficult to apply for a mortgage or car loan in the future.

Therefore, when choosing to withdraw the loan amount, it is recommended to make a repayment budget in advance, and control the loan amount within the acceptable range of your monthly income to avoid overdue.

4. Clarify the loan interest and loan term.

After the loan application is approved, it is necessary to sign a loan contract with the lending institution. At this time, it is necessary to clarify the interest rate and term of the loan.

In general, loan interest = total loan amount * loan interest rate * loan term. According to the loan interest rate and loan term stipulated in the contract, you can estimate your repayment interest and confirm whether the interest is within your tolerance.

5. Ask if there is any penalty for prepayment.

Many people will want to repay the loan in advance to reduce the loan burden when they find that they have sufficient funds after handling the loan. If they find that there is a penalty when they repay the loan, it will increase their loan cost.

Therefore, it is suggested that when handling the loan, it is necessary to ask if there is any penalty for prepayment. When signing a loan contract, you should carefully check the contract details about prepayment to help you reduce the repayment pressure in the subsequent prepayment.

6. Loans should be used in compliance.

Many loan products are earmarked for special purposes. For example, consumer loans cannot be used for buying houses and investing in wealth management, and mortgages cannot be used for daily consumption. If the loan amount is improperly used, the lending institution may require the borrower to settle the loan in advance, freeze the loan amount or stop providing loan services, and in serious cases, there will be illegal records in the personal credit report.

Therefore, it is suggested that when handling loans, the scope of loan use should be clear, and the loan amount should be used legally and properly in the process of loan use.

7. Pay on time, not overdue.

Loans overdue will seriously affect personal credit, resulting in high penalty interest, and even be troubled by collection every day after overdue. Moreover, loans overdue's record can only be automatically eliminated after five years of overdue repayment, which will affect his loan application and use within five years.

Therefore, the most important thing for the first loan is to repay it on time, choose the loan amount and loan period within your own ability, and maintain a good personal credit.