With the rise of Internet finance and the emergence of new financial products, public finance has gradually become a part of people's lives. The accompanying financial approval has also become an integral part of people's experience in applying for financial products such as loans. So, is public finance better than approval? We analyze it from multiple angles。

Is public finance better than approval

Angle one: faster approval than traditional loans

Public finance applications are processed faster than traditional bank loans. This is mainly due to the fact that the various loan products on the popular financial platform are available on the Internet and that the entire loan application and approval process can be completed online. In this way, online applications, online clearances and online lending can take place without waiting too long. Compared to the Mobai bicycle and shared cars, the latter also require such steps as a lead car and an agreement before they can be used。

Angle two: application conditions are relatively easy, but interest rates will rise accordingly

The threshold for applying for public finance is relatively low compared to traditional bank loans. In most cases, only basic personal information is required to complete a loan application, and even creditworthy consumers can obtain a higher level of credit. However, in order to be able to “immediate consumption”, the public financial platform will also increase interest rates accordingly. Consumers need to weigh their advantages and disadvantages before making a decision。

Angle three: Think clearly about consumption and avoid financial risk

Any emerging financial product with ease of use and speed of approval requires a reminder to consumers that consumer use needs to be identified and financial risks avoided. It would be wiser to consume prudently and rationally. Sometimes, we do not really need to do that; all we need is the spirituality that consumption brings. At this point, we can meet our needs in other ways, such as watching movies, walking, etc。

Overall, public financial approval is relatively less difficult, but prior to an application it is necessary to know the interest rate of each loan and its own future ability to repay. Use of mass financial consumption requires prudent consumption, rational consumption and avoidance of financial risk. In this context, public finance is also well suited to some consumers with urgent financial needs。