What are the uses of personal consumption loans from Bank of China?

Personal consumption loan purposes of Bank of China:

Personal consumption loans can be used for all legitimate personal consumption expenditures, but do not include house purchase, production and operation, personal expenditures without designated purposes, and any Uses prohibited by laws, regulations, regulatory provisions, and national policies (including stocks, securities investments, etc.). Due to differences in services in individual regions, please consult the Bank of China acceptance outlet for detailed information.

The above content is for your reference, please refer to actual business regulations.

What are the purposes of applying for a personal loan?

When encountering financial problems, many people will choose to apply for a personal loan. However, when applying for a loan from a bank, there are restrictions on the purpose of the loan. So, what are the uses of personal loans? Let me introduce it to you today.

1. Personal consumption loans refer to the behavior in which citizens with a certain income apply for a loan from a bank and provide a certain guarantee for the purpose of consumption, and then return the loan and pay interest when it is due. Mainly include: personal durable consumer goods loans, personal housing decoration loans, personal student loans, personal travel loans, automobile consumption loans and other business types.

2. Personal comprehensive consumption loans refer to loans that banks extend to individuals without specifying specific purposes in order to further meet the increasingly diverse consumer needs of individuals.

3. Credit card overdraft loan means that when the balance of the credit card account is insufficient for consumption or shopping, the bank will automatically grant the cardholder the loan he needs based on the limit agreed in advance between the bank and the cardholder. Quota.

4. Personal housing loans refer to loans issued by banks to borrowers to purchase ordinary houses for self-use.

5. Individual, refers to a loan in which the borrower hands over the corresponding pledge to the bank as a guarantee according to the amount of the loan. When the borrower's cash flow is insufficient to repay the loan, the bank exercises the right to dispose of the collateral.

6. Personal credit loans refer to RMB credit loans issued by banks or other financial institutions to borrowers with good credit without providing guarantees. Based on personal credit and repayment ability, the amount generally does not exceed 100,000-200,000, and the loan period ranges from 1-2 years.

What are the uses of comprehensive personal consumption loans?

1. Positive answer

The main ones are as follows.

2. Specific analysis

1. Purchase furniture and home appliances

For example, purchase TVs, refrigerators, sofas, beds, wardrobes, tables and chairs, air conditioners, water heaters, etc. etc., can also be used for home decoration.

2. Purchase a car

For consumer loans, it is possible to purchase a car, but it cannot be used to purchase a house.

3. For education

For example, studying abroad, re-education after employment, etc. Loan funds can be used to pay tuition, accommodation fees, and living expenses.

4. For weddings

For example, if you hire a wedding company, hold a banquet, buy wedding clothes, buy jewelry, etc., if you have a lot of short-term expenses, you can apply for a consumer loan.

5. Travel

It can be domestic travel or overseas travel. The longer the planned travel, the greater the demand for consumer loans.

6. Medical aesthetics

Medical refers to various medical treatments such as colds, diseases, accidents, etc. Medical aesthetics generally refers to oral, eye, plastic surgery and other treatment operations.

7. Production and business purposes

For production and business purposes such as expanding factories, adding business equipment, purchasing raw materials, accounting turnover, etc., you can also apply for consumer loans if the demand is small.

8. Other daily expenses

Such as shopping and eating, buying food and cooking, buying clothes and shoes, paying water, electricity and gas bills, transportation and other basic expenses for daily life.

Note that consumer loans have clear prohibited uses, that is, they cannot be used for home purchase, investment, and other areas prohibited by law.

You should also pay attention to your personal credit and do not apply for loans blindly. Otherwise, once the big data is used, if you want to apply for a loan again, your comprehensive score will be insufficient and the loan will be rejected. You can get a big data report from Beijian Quick Check to clearly know your status in online loan big data. This database cooperates with more than 2,000 online loan platforms, and the data queried is relatively accurate and comprehensive.

3. What are consumer finance loans?

There are many consumer finance loans, such as commodity loans and consumer loans from Home Credit Consumer Finance, Anyihua from Immediate Consumer Finance, good-term loans from China Merchants Union Consumer Finance, and Youqianhua platform from Duxiaoman Financial Manyidai, Zunxiangdai, Suning Financial’s Wishfuldai, JD Finance’s gold bar loan, Ant Financial’s Jiebei, Lexin’s Fenqile, etc.

In addition, other consumer financial institutions also provide various types of credit consumer loans to Zhongyuan Consumer Finance, China Post Consumer Finance, Haier Consumer Finance, Changyin Consumer Finance, Huarong Consumer Finance, Hangyin Consumer Finance, Jinshang Consumer Finance, Shengyin Consumer Finance, Happy Consumer Finance, etc.

As long as you pay more attention to maintaining good personal credit, there are no bad records in the credit report; and you can provide stable income proof and have the ability to repay on time, you can generally borrow smoothly from the above-mentioned consumer financial institutions. Payment received.

Of course, if your credit is not good, you will not be able to borrow money for the time being.

It should also be noted that there are many unknown small loan platforms in the loan market. Although the application threshold is low, it is not recommended to borrow money because you do not hold a financial license.

What is the difference between personal consumption loans and housing loans? What are the uses of consumer loans?

What is the difference between personal consumption loans and housing loans?

According to the current types of personal loans provided by banks, they can basically be divided into personal credit loans and personal credit loans. Consumer loans are a type of personal credit loan, or a mainstream product; and housing loans are essentially mortgage loans, that is, the bank pays the loan you handle to the real estate developer, but you mortgage your house to the bank and pay the loan upon maturity. Loan repayment method. These two are the most important types of loans that I have access to nowadays.

As the name suggests, consumer loans are mainly used for transactions, such as house decoration, buying cars, buying appliances and furniture and other bulk durable goods, as well as education, travel, weddings, etc. It cannot be used to purchase a house because of personal expenses. Generally, the personal consumer loan limit does not exceed 500,000 yuan, and the interest rate depends on the personal credit rating, usually between 8% and 18%, and the repayment date is generally no more than 4 years.

Nowadays, some financial companies are gradually getting involved in consumer loans. Housing loans are key loans, and their credit lines are determined based on personal income and property qualifications. Credit lines vary from hundreds of thousands to millions. The loan interest rate is generally adjusted according to changes in my country's policies. The loan period is the longest. Can reach 30 years. All three can adopt equal principal repayments or equal principal and interest repayments.

What are the uses of consumer loans?

1. Choose large-amount durable consumer goods or luxury brands. Nowadays, many people want to buy expensive products, but they don't have enough money, so they choose consumer loans to solve financial problems, such as buying cars, digital appliances, jewelry, etc.

2. Get married. Nowadays, getting married costs a lot of money, ranging from tens of thousands of yuan to tens or even millions. Some families cannot afford that much money temporarily, so they can choose to apply for a consumer loan to pay for most expenses. .

3. Culture and education. Whether salaried workers are improving themselves and continuing their education, or sending their children to study abroad, consumer loans can solve their problems.

4. Vacation travel. Nowadays, you can also take advantage of consumer loans for some popular tourist attractions that take a long time to visit, and the cost of a visit is relatively high.

Fund use requirements for home mortgage consumer loans

The uses of home mortgage loan funds generally include buying a house, car, home decoration, studying abroad, medical tourism, purchasing large and medium-sized durable goods, etc. Business purposes such as company funds for self-employment, etc. The following are the relevant regulations of some banks regarding the use of loan funds

Yinsu.com indicates that banks have certain requirements for the use of borrowers' loan funds when applying for home mortgage consumer loans. When applying for a loan from a bank, a person should explain the purpose of the loan funds to the bank. At the same time, when the loan is approved, the lender must provide corresponding confirmation of the purpose of the loan funds. The purpose of this is to improve the supervision of the inflow of loan funds

To avoid any possible possibility of loan funds entering the risk field and other fund uses, the loan discount period and the relevant provisions of the interest rate product implementation standards. Generally speaking, the discount of a mortgage loan is the house appraisal coefficient. The annual loan interest rate for the loan period will be increased by 10% on the basis of the standard annual interest rate.

This is the end of the introduction about the uses of personal credit consumer loans and what personal credit consumer loans can only be used for. I wonder if you found the information you need?