When there is no small loan on WeChat, users can use WeChat to transfer money and send red envelopes. These behaviors can show their personal financial resources. After the system knows, it will re-evaluate the users. After meeting the conditions, the system will invite them to open. Buying wealth management products on WeChat can also increase the possibility of opening.
Users who want to open microfinance can also complete various information on WeChat, such as education information, vehicle information, provident fund, real estate information and so on. These are powerful financial proofs that enable users to open small loans as soon as possible and bind savings cards or credit cards to WeChat.
When microfinance is opened, you can see your loan amount. At first, the amount was not very high. However, with the increase of the number of loans, the amount of small loans will gradually increase and the interest rate of loans will also decrease. At this time, the interest paid by borrowing money will be less, but everyone needs to repay it on time.
Micro-loans support repayment on demand, and interest is charged on a daily basis. When users have sufficient funds, they can repay in advance, which can save interest for users. However, users should not repay in advance every time, which will make micro-loan unable to make money. After a long time, the amount of microfinance may decrease.
Usually, after using micro-credit loans, you must repay them in time, and don't be overdue. Overdue repayment will generate penalty interest, and overdue records will be uploaded to the credit information center. At this time, personal credit information will be bad, and applying for loans from banks in the future will also be affected.