WITH THE GROWTH OF THE INTERNET ECONOMY, MORE AND MORE PEOPLE ARE CHOOSING TO APPLY FOR CONSUMER LOANS ON INTERNET LENDING PLATFORMS. HOWEVER, NOT ALL LOAN PLATFORMS ARE RELIABLE. SO HOW DO WE ASSESS THE RELIABILITY OF A LOAN APP? THE FOLLOWING ARE KEY FACTORS TO CONSIDER:

HOW MANY ASPECTS SHOULD APP BORROW MONEY FROM

#%s#1 VIEW THE QUALIFICATIONS OF THE LOAN PLATFORM

First, to check whether the Platform has a formal licence, it needs to be informed about the funds registered, the place of operation, the scope of operation and the time of operation. If a platform is registered with millions of funds, it is relatively strong. If only a few hundred thousand, that would require vigilance. In addition, operating time is an important indicator, and the longer the platform, the more stable, the better to stay away from it if it is less than a year。

2. CONCERNED ABOUT THE TRANSPARENCY OF INTEREST RATES ON LOAN PLATFORMS

A SCALABLE ONLINE LOAN PLATFORM, WITH INTEREST RATES THAT ARE USUALLY IN COMPLIANCE AND WITHIN THE SCOPE OF LEGAL PROTECTION. IN THE CASE OF PRIVATE LENDING INSTITUTIONS, THE INTEREST RATE CANNOT EXCEED FOUR TIMES THE LPR FOR THE SAME PERIOD. IN THE CASE OF ONLINE LOANS INITIATED BY A BANK OR FINANCIAL INSTITUTION, THE INTEREST RATE DOES NOT EXCEED 241 TP3T IS PROTECTED BY LAW. BEFORE BORROWING, YOU CAN CALCULATE AND COMPARE INTEREST RATES。

#1T#3 INSPECTION OF PLATFORM FEES

A solid loan platform does not randomly charge fees. Prior to borrowing, the borrower would not be charged a fee for any reason; at the time of borrowing, the amount of the loan would be paid. Interest, service charges and fees will be charged only after the successful loan, and these charges are charged at the time of the first instalment。

DIFFERENT LOAN APPS REQUIRE DIFFERENT CONDITIONS FOR BORROWERS, AND EVEN FOR THE SAME APP, DIFFERENT OPERATIONS MAY REQUIRE DIFFERENT CONDITIONS. THE FOLLOWING ARE COMMON REQUIREMENTS, FOR EXAMPLE:

- ** Chinese citizens**: not including foreigners and residents of Hong Kong/Australia

- ** Age requirement**: natural persons who have reached the age of 18 and have civil capacity

-**Stabilized Income**: Need for formal work and stable sources of income

- ** Credit records**: no bad credit records

- ** Geographically consistent**: the place of work is the same as the place of application。

In general, while online borrowing is relatively easy, we should make reasonable borrowing in accordance with our capabilities, rationalize consumption and avoid overpayment。