What are the conditions for individual bank loans

In everyday life, many people experience liquidity difficulties. At that time, applications for loans became the first choice of many. In particular, bank loans are favoured because of their formality and security. However, it was not easy to apply for bank loans successfully and certain conditions had to be met。

First, the borrower needs to be a mainland Chinese resident between the ages of 18 and 60, with full civil capacity. This is the most fundamental requirement to ensure that applicants have legal rights and obligations。

Secondly, it is also important to have a stable source of work and economic income. The bank wishes to see you have sufficient repayment capacity and willingness. If you can prove that you have a steady monthly income and are willing to pay back on time, your success rate will increase significantly。

In addition, a good record of personal correspondence is essential. In the last two years, there have been no overdue outstanding credit records, and you have been able to receive a significant increase in your loan application. After all, banks prefer to lend money to creditworthy people。

There is no need to be discouraged for those who are temporarily jobless. There are two common alternatives:

1. Mortgage of property: You can apply for a loan on your own property. This approach is relatively safe because banks have physical security and are less risky。

2. Guaranteed loans: If any of the relatives or friends around them are willing to help, they may act as guarantors for you. It should be noted, however, that it is not only a matter of money but may also affect their relationship. It was therefore important to ensure that payments were made on time so as not to affect the record of letters of call of the guarantor。

In addition, the application of a mortgage-free personal credit loan may be considered for better-qualified users. As long as you meet the age, income and letter requirements, the bank usually approves a loan amount of 5 to 10 times your monthly income. Loans may be higher in the case of civil servants or other high-quality occupations。

In any case, it was essential to maintain a good credit record and to pay back on time, regardless of the manner in which bank loans were requested。