1. If the loan has not been issued at the time of loan, the loan may be cancelled. If you sign a contract on behalf of the money, but you don't borrow it, it will be regarded as early repayment, and you have to pay the liquidated damages according to the contract.

1. This breach of contract is recorded in the personal credit record;

2. The expenses incurred at the initial stage of the loan will not be refunded or supplemented;

3. It is necessary to inform the bank of the reasons for not accepting loans;

4. Sign an prepayment contract with the bank;

5. Pay a certain penalty;

6. It has a certain impact on future loan applications.

Second, if the loan is approved and you don't want to use the money, you can cancel it without signing a contract, which is regarded as automatic loan abandonment.

1. No fine is required;

2. Pretreatment fees will not be refunded or supplemented;

3. It will affect re-applying for bank loans in the future;

4. It is suggested to inform the bank in advance and explain the reasons why no loan is needed.

3. How to cancel the loan at different stages:

1. Not approved yet.

When applying for a loan, it was only temporary, but after submitting the loan, the borrower wanted to cancel the loan for some reason. At this time, if the loan contract has not been signed, the borrower can terminate the contract and terminate the loan application. Just contact customer service to apply for canceling the loan before approval.

2. Review stage

If the loan has been approved, it is ok for the borrower to cancel the loan. Contact your account manager to explain the situation, and he will report the termination of the approval process to the platform. As long as you don't pass the audit, you can contact customer service to help you cancel the loan.

3. The loan is in progress

If approved, it is usually in the lending stage. It's troublesome to cancel at this time, but as long as the money hasn't arrived, you can still contact the account manager or customer service. Cancelling the loan at this time may affect your credit information and may lead to a certain fine.

4. What is a loan?

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Simply put, it is borrowing money with interest. According to different repayment periods, loans can be divided into short-term loans, medium-term loans and long-term loans; According to different repayment methods, loans can be divided into demand loans, term loans and overdrafts.

The loan term refers to the period from the effective date of the loan contract to the last loan principal or interest payment date. The loan term is generally proposed by the borrower, determined after consultation with the bank, and included in the loan contract.