Are you confused about the terms of the loan? Many are not very clear about the information that must be provided on e-loans and are not aware of the need for their mobile phone numbers and identity cards to apply for loans. In fact, an application for a loan must provide an identity card. Validation of identity cards, bank cards and mobile phone numbers enables users to complete the real name certification and then continue to apply for loans. If a non-personal identity card is provided, it is usually not certified by real name, so that application for a loan fails。

Do you have to have a cell phone number and an I.D. for a loan

Some loans also require face-to-face certification after they have been submitted, and if the identity card used to apply for a loan is not personal, it is not possible to pass face-to-face certification。

There is no fixed answer as to how long it will take for bank loans to be approved. Credit loans usually take 5-7 days to be approved. Mortgage loans usually take 15-20 working days to complete their approval because of the relative complexity of the process involved. The timing of the approval of housing loans may be influenced by local policies and the degree of pressure on bank lending, which may take one month or more。

The timing of approval of bank loans is also affected by the high and low seasons of loans, during which the approval of loans is relatively slow owing to the large number of applications, while in the low season the number of applications is smaller and the speed of approval is relatively high。