For a credit union Huimin Card loan of RMB 100,000, based on the current bank’s one-year benchmark annual interest rate of 4.35%, if the repayment method is equal principal and interest, the total interest required for your loan will be RMB 2,371.88.
Bank loan refers to an economic behavior in which a bank lends funds to those in need of funds at a certain interest rate in accordance with national policies and agrees to return the funds within an agreed period. Generally, you are required to provide a guarantee, a house mortgage, or proof of income, and have a good personal credit report before you can apply.
Moreover, in different countries and in different development periods of a country, the types of loans classified according to various standards are also different. For example, industrial and commercial loans in the United States mainly include ordinary loan limits, working capital loans, standby loan commitments, project loans, etc., while industrial and commercial loans in the United Kingdom mostly take the form of bill discounts, credit accounts, and overdraft accounts.
Loan tips:
Reasons for borrowing: When applying for a loan, the borrower should be honest and clear about the reasons for the loan, and write down the purpose of the loan and personal repayment in detail. Advantages. For example: good personal credit record.
Loan amount: The amount of the loan the borrower applies for at the bank should not be too high, because the larger the amount, the higher the possibility of failure. However, this is not what the lender wants, and they certainly don’t want it. There is no sign of disbursement of my loan funds within half a month. If the loan applied for by the lender is relatively large, it is recommended that you reduce the loan amount appropriately, so that your chances of passing the bank's review will be greatly increased.
Loan description: Fill in the application information in detail, including the purpose of the loan, personal credit record, source of income, repayment ability, family income, etc. To ensure that your loan can be repaid on time no matter when, where or what the situation is.
Loan repayment: After the borrower successfully applies for a loan, he must repay the loan within the specified time. Do not take chances and delay the repayment time, thereby causing a bad personal credit record. In addition, relevant departments will make every effort to recover loans that are in arrears.
Short-term loans refer to loans with a loan term within 1 year (including 1 year). Short-term loans are generally used for the borrower's working capital needs in production and operations.
The currencies of short-term loans include RMB and major convertible currencies of other countries and regions. The term of a short-term working capital loan is generally about six months, with a maximum period of no more than one year; a short-term loan can only be extended once, and the extension cannot exceed the original term.