As our quality of life improves and our economy develops at a rapid pace, it becomes even more important to find a secure and reliable source of credit. Bank loans are no doubt our first choice, but do you know how many types of bank loans there are

The bank has several ways of lending

Let's take a step-by-step analysis of each type of loan. First of all, credit loans, this type of loan does not require you to provide a guarantee, but rather a loan based on your credibility. Here's the mortgage. You need to give some collateral as a guarantee. It is followed by a mortgage business loan, commonly referred to as a housing mortgage loan, which requires the purchase of property as collateral, with a phased guarantee from the developer. There is also a Provident Fund loan, which is available to persons who are employees of the Housing Fund. Guaranteed loans are subject to a corresponding guarantee from a third party. In addition to this, the policy loan is secured by the cash value of your life insurance policy。

What are the conditions for applying for a loan at a bank? First, you must be a natural person of 18 years of age and not more than 55 years of age and have full civil capacity. Second, you need to have permanent residence or valid residence status in the locality and have a second-generation identity card. In addition, you need stable work and income, with the ability to repay principal and pay interest. You also have to stay at your current place of residence for at least six months and at least six months at your current job. Finally, you need a bank-sanctioned encumbered asset or a qualified guarantor。