Individual loans from the People's Bank are a financing service for personal consumption and operations and are now receiving significant attention in the market. But is it good? This paper is analysed from several angles。

Does the Bank have a good personal loan

1. Interest rate aspects

First of all, look at the interest rate on individual loans from the People's Bank. The rate of interest on this loan is floating, with different loan terms with different rates. Generally, the longer the loan term, the higher the interest rate. However, when the selected interest rate method and the rules for changes in interest rates are specified in the loan contract, banks regulate the level of interest rates by legal means. It is therefore recommended that, in selecting individual loans from the People ' s Bank, everyone should be fully informed of the National Bank ' s policy and the specific interest rate policy of the People ' s Bank, and be able to withstand the corresponding repayment pressure。

2. Loan thresholds

Second, with respect to the loan threshold, the terms of application for individual loans from the Bank are broader. The applicable categories include legal Chinese citizens and persons outside China with permanent residence in the People ' s Republic of China, who meet the requirements for bank qualifications in terms of age, income from work, credit records, etc. Therefore, consumers can apply for private loans from the People's Bank on their own merits。

3. Loan line

In addition to the threshold, the amount of the loan is to be considered. According to the rules of the People ' s Bank, the amount of the personal loan is awarded on the basis of the consumer ' s personal qualifications and the purpose of the loan. At the same time, consumers may choose the duration and amount of the loan on the basis of their assets and liabilities, as well as their personal credit. However, the level of loans varies from one type of loan to another and, in general, large loans require review of assets and income certificates。

4. Method of repayment

Of course, the manner in which the loan is repaid also needs to be considered. According to the rules of the People ' s Bank, individual loans are subject to the option of equivalent principal and advance interest. Equivalent principal repayments are most welcome, as repayment periods and repayment amounts are fixed, which can help consumers better plan their own repayment plans without creating excessive repayment pressure。