To apply for personal unsecured loans in banks or other lending institutions, you need to meet the following conditions:
Chinese mainland citizens aged between 1 and 18-65;
2. China citizens with fixed residence in China, permanent residence in local towns (or valid residence certificates) and full capacity for civil conduct;
3. Have a proper occupation and stable economic income, and have the ability to repay the loan principal and interest on schedule;
4. The borrower's unit must be an administrative, enterprise or institution recognized by the lender and having a good cooperative relationship with the lender, and the lender will pay wages on its behalf;
5. Abide by laws and regulations, and have no illegal acts and bad credit records.
There are several ways for individuals to apply for unsecured microfinance:
1. Unsecured microfinance business operated by banks for merchants or farmers;
2. The unsecured microfinance business jointly carried out by banks and insurance companies is guaranteed by insurance companies, and banks issue loans;
3. The loan business carried out by regular microfinance companies with their own funds.
Formal lending institutions have strict loan approval procedures. Even if the lender is not required to provide collateral, it is necessary to review the lender's credit history, income, work or business situation, and there are strict restrictions on the loan amount and loan term. In addition, formal lending institutions do not charge any fees before lending, and repay on schedule after entering the loan cycle.
Article 18 of the Civil Law of People's Republic of China (PRC) * * * An adult is a person with full capacity for civil conduct and can independently carry out civil legal acts. /kloc-Minors over 0/6 years old whose main source of livelihood is their own labor income are regarded as persons with full capacity for civil conduct.
Article 17 of the General Principles of Loans: The borrower shall be an enterprise (institution) legal person with China nationality, other economic organizations, individual industrial and commercial households or a natural person with full civil capacity.