The “Molniya” products introduced by commercial banks are popular, especially 36 instalments, which provide more flexibility for users to choose a phased plan. So, is it worth applying for a 36-term flash loan? This paper will be analysed from several angles。

Thirty-six issues

FIRST, THERE IS THE ISSUE OF THE INTEREST RATE OF THE 36-PHASED PLAN. WHILE THE RATE OF THE INTRODUCTION OF A FLASH LOAN IS STILL SLIGHTLY HIGHER THAN THE CONSUMER CREDIT PRODUCT OF OTHER BANKS, AFTER ALL, IT IS THE CREDIT OF THE BANK AND THE INTEREST RATE IS GENERALLY REASONABLE. DEPENDING ON THE AMOUNT AND DURATION OF THE LETTERS, THE 36-PERIOD INTEREST RATE IS GENERALLY IN THE RANGE OF 0.98% ~1.35%, DEPENDING ON THE REGION, THE AMOUNT OF THE LETTERS GIVEN AND THE INFORMATION GIVEN。

Secondly, we also need to take into account the impact of 36 instalments on individual financial planning. For young people, or those with insufficient economic power, the option of a 36-phased period may increase future repayment pressures. While monthly repayments are relatively low compared to other periods, they require assessment and careful decision-making in view of the significant increase in total interest and handling charges over the 36-period period。

Thirdly, the terms of application for the 36-phased FMC programme also require a comprehensive understanding by users. At present, recruitment is targeted at different client groups, providing different application criteria, such as for students at school, at work and for business owners, as well as different crediting standards and data-checking techniques, thus requiring clients to choose according to their own circumstances。

FINALLY, THE APPLICATION PROCESS FOR THE THIRTY-SIX ISSUES OF THE FLASH LOAN HAS BEEN RELATIVELY EASY. THE CUSTOMER IS NOT REQUIRED TO PROVIDE ANY GUARANTEE OR PLEDGE, NOR TO RUN THE BANK SITE, BUT ONLY TO DOWNLOAD THE APP ON THE PHONE AND COMPLETE THE CORRESPONDING APPLICATION PROCESS. FOLLOWING THE AUDIT, THE FUNDS WILL BE TRANSFERRED DIRECTLY TO THE CLIENT ' S ACCOUNT WITHIN THE SHORTEST WORKING DAY AND WILL BE READILY AVAILABLE。

In summary, the FMC 36 period is a relatively reasonable consumer credit break-up scheme, but with a cautious choice, it is recommended that it be based on its actual financial situation。