In 1982, interest-free loans were issued for life, but the number of borrowers was very small. Interest-free loan for life 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, in which the interest rate is free of charge by banks or paid by the government and corresponding institutions under agreed conditions.

Conditions for interest-free loans:

1. China citizens aged between 18 and 45 with full capacity for civil conduct and foreigners cannot apply.

2. Have a stable address, a local permanent address and a local hukou.

3. Applicants for interest-free loans have good credit and repayment ability, stable work and income, and no bad credit record. Interest-free loans are different from other loans and need a guarantor to guarantee.

4. The use of the loan is the key to the interest-free loan. It needs to be used for project construction or self-employment, and it needs to be conducive to the sound economic development of the society and has good social and economic benefits.

process of applying for interest-free loan:

1. After you have really met the conditions of interest-free loan, you can apply for registration and fill in the loan approval materials.

2. Banking institutions inspect loan applicants and business projects.

3. The bank audit institution will determine whether to grant the loan and the loan amount.

4. After the approval, the banking institution will inform the applicant to fill in the loan contract and finally wait for the loan.