Everyone may be confused: how long does it usually take to apply for personal loans? In fact, the timing of the loan is highly correlated with its type. Let's see how long it usually takes for all types of loans

It usually takes days to apply for a personal loan

Network microloans are usually available for about a week. If you choose a bank loan, you'll have to wait about two weeks. And if you choose a bank loan that needs to be secured, you may have to wait four to five weeks before you can make a down payment。

There are other factors that may affect the timing of your loan. First, as the type of loan differs, credit is usually approved faster than mortgages because it does not require an assessment of the value of the collateral or a search for a guarantor, but simply a review of personal information and letters of credit。

Second, the choice of loan channels also affects the speed of approval. Different banking or financial institutions have different approval processes and efficiencies, and, in general, State-owned businesses are more stringent and slow, stock and city comptoirs are more flexible and fast, while Internet financial institutions are the fastest to approve。

Of course, the amount of the loan will also affect the processing time. In general, the larger the amount of the loan, the longer it takes to review it, because more information is needed from banks to reduce the risk。

And then there's the loan information. If you have the loan information that's real, then the bank will verify and pass your application more quickly, and the natural down payment will be faster。

Finally, changes in lending policy will also affect the timing of the next payment. Usually, when banks are under financial stress or when policies change, the time for approval is extended because banks are required to adjust conditions such as loan lines and interest rates。