Credit loans do not need collateral, but they also need to examine repayment ability. Generally, you can meet one of the following requirements: 1, have a stable job and pay more than 5,000 yuan for the bank, have worked for a certain number of years (this just retired is definitely not satisfied), have a house or car under your name for a certain number of years, and buy commercial insurance for yourself or your family as the insured (China Life Insurance, Pacific Insurance, Ping An Insurance, etc.).
Generally speaking, for these conditions, different places and banks have some differences in the specific required number of years and amount.
Unsecured loan:
Unsecured loan is a form of loan liability without specific asset guarantee, that is, a loan issued without the guarantee provided by the borrower or a third party according to law. Unsecured loans are also called unsecured loans or credit loans. Unsecured loans do not require any collateral. They only need proof of identity, proof of income, proof of address and other materials (the specific proof depends on what bank they are applying for and the type of unsecured loan) to apply for a loan from a bank. Banks issue loans according to personal credit conditions, and the interest rate is generally slightly higher than that of secured loans. Customers can choose the loan term according to their own specific conditions, and then sign a contract with the bank.
Product features:
1. No guarantee-no property mortgage is required;
2. Convenient application-the application procedure is simple and fast, and the application hotline, website, designated acceptance point and fax can be easily applied;
3. Long cycle-choose your loan period at will, and the longest loan period can reach 36 months;
4. High amount-based on the comprehensive evaluation of your income and credit status, the maximum loan amount can reach 500,000 yuan;
5. Fixed interest rate-the loan has a fixed interest rate and is not affected by the fluctuation of market interest rate, thus reducing interest rate risk and enjoying preferential treatment.