Master 12 keys to get online loans easier

        Since the Bank launched online credit loans, people can apply for loans anytime and anywhere through the Internet platform, and there is no need to queue up in branches. But how to operate in practice? What matters need special attention? Let's see what Far Eastern International Bank professional financial consultant says?

        In the past, when people needed loans, they had to prepare all the relevant supporting documents, go to the branch to fill out the application form, and also have to ask the business personnel to borrow money. How much would they feel embarrassed. However, with the development of Digital Banking, more and more businesses can apply online. They can not only freely evaluate their own credit products, but also save the time to go back and forth to the bank. Moreover, they will not have the trouble of "catching up with 3:30". Moreover, from application to insurance and funding, they can be completed in one day at the earliest.

        The digitalization of the application process not only benefits the general public, but also enables banks to provide lower credit rates or start-up costs because of saving marketing promotion costs. Therefore, if the applicant already knows his loan needs and loan conditions clearly, it is a good way to apply online! Here are some things you must know before you apply for a credit loan online:  

        1、 What is the online application process of most banks at present?

        Select appropriate credit products → online application → identity authentication (through self or other bank accounts)   Certificate) → fill in the information and upload the document to the bank for review → the bank informs the review result → online insurance → appropriation.  

        2、 What conditions must be met to apply for credit loan?

        Generally speaking, over 20 years old, stable income and financial status, normal repayment ability and good credit are enough. However, there are still loan products designed for specific ethnic groups, and there are restrictions such as the length of service in the industry and service units, which need special attention.  

        3、 How much credit line can I apply for?

        1 According to the regulations of Financial Supervisory Commission, the maximum amount of the total balance of an individual's no obligation loan in all financial institutions shall not exceed 22 times of the average monthly income, or dbr22 times for short.

        2 After meeting the requirements of the Financial Supervisory Commission, the bank will conduct a comprehensive evaluation according to your current loan and credit status. Each bank reserves the right to identify the customer's qualification, loan amount, loan term, applicable interest rate and check the loan or not.  

        4、 Apply for a loan   What documents need to be prepared?

        The front and back copies of ID card, employment certificate and financial certificate.  

        5、 What are the restrictions on online application files and uploading files?

        A file   The file size is about 4MB ~ 8MB. Some banks have a total file size limit. Please pay attention to the information on the website when applying. The file format is usually PNG, JPG, TIF, GIF and PDF.  

        6、 Which is better to provide the current monthly income information?

        If the salary certificates of the last three periods cannot reflect your bonus or dividend, it is recommended to provide complete tax return information of the latest year.  

        7、 I want to compare interest rates. If I apply for credit loans from multiple banks online at the same time, what will be the impact?

        Apply for credit loans from multiple banks, and the application records will be reflected in the joint levy center. In the past three months, if the number of associated queries is more, the worse the credit result will be. The credit scoring mechanism of each bank is different. It is suggested to ask more and compare more.  

        8、 Should we choose to bind the contract when applying for credit loan? What's the impact?

        You can choose "unlimited liquidation period" or "restricted liquidation period" according to the evaluation of capital status. If you choose "restricted liquidation period", you will have to pay liquidated damages in accordance with the contract for early liquidation within the period.  

        9、 How to choose "equal share of principal" vs. "equal share of principal and interest"?

        The amount of credit repayment can be divided into "principal" and "interest", and the calculation method can be divided into "equal sharing of principal and interest" and "equal sharing of principal". The former is to spread the interest equally during the loan period with the interest rate unchanged. The monthly payment of "interest + principal" is the same. The monthly repayment amount is relatively low, but the total amount of interest is high. It is more suitable for those who are under repayment pressure and have less funds on hand.

        In other words, the repayment principal of each month is the same, while the interest is calculated by dividing the loan balance of each period by the amount of monthly interest rate. Therefore, the amount paid each month is different. With the decrease of the total amount, the interest is less and less, but the amount of early repayment is higher, For borrowers, the burden is heavier, which is more suitable for people without financial pressure.  

        10、 We often see "floating interest rate" on bank advertisements. What is floating interest rate?

        (1) "Floating interest rate" refers to the fixed deposit interest rate index plus floating interest rate (interest rate = fixed deposit interest rate index + weighted interest rate).

        (2) How to calculate the fixed deposit rate index? The calculation basis of each bank is different. Take the following three banks as examples:

                The fixed deposit interest rate index is the basis for banks to increase their interest rates. Lenders only need to pay attention to the loan interest rate in the bank   Whether the bank's overweight is reasonable, and whether it can be easily calculated when the central bank raises or cuts interest rates in the future.  

        eleven  、 How long is the loan?

        In principle, the repayment period of 1-7 years is planned according to the repayment ability, and the longest is 7 years, but the actual repayment period will be subject to the final approval of the bank.  

        12、 Total   What is the annual percentage of fees?

        The annual percentage of the total cost is also called the real annual interest rate of the loan. The annual interest rate is calculated by calculating the service charge and multi-stage interest rate of the loan. The easiest basis to judge the real lending rate and loan cost is the "annual percentage of total expenses" listed in the reference product.

        I would like to remind you that you must do your homework well in advance to enjoy the convenience brought by the development of digital finance!