10 ways to manage personal loans which one do you think is best?

10 ways to manage personal loans which one do you think is best?First, banks mortgage personal loans.For people: People with collateral need a lot of money and ...

Aug 30,2023 | Anastasia

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10 ways to manage personal loans which one do you think is best?

First, banks mortgage personal loans.

For people: People with collateral need a lot of money and long-term.

Cost of borrowing: annual interest rate of 3-5% , personal loan and then the repayment of the first interest rate, the same or uncertain repayment.

Amount: according to property valuation, the general amount of less than 100,000 yuan, some banks can reach 300,000 yuan.

Advantages: The amount is high, the cycle is long, the longest loan can be 20 years, the interest is preferred, and the repayment pressure is small.

Disadvantages: the company is necessary, the bank will be based on the company, real estate and personal three aspects to determine personal loan management plan, which is relatively long-term process

Second, the bank credit loan

Suitable for people: suitable for people with stable and high-quality jobs.

Stable and high-quality jobs, it refers to enterprises belonging to the state-owned assets supervision and Administration Commission (Sasac) , large financial enterprises, state-owned enterprises, Fortune 500 enterprises, domestically listed companies, large-scale Internet code practitioners or Certified Public Accountant, lawyers, medical personnel, etc. . Or, users invited by the bank, such as the unit is the bank's white-list enterprise, and the staff is the bank's key marketing unit, the opportunity to get a quota. Range: 5 to 1 million. According to Borrower Credit, Provident Fund, Social Security tax data.

Borrowing costs: General annualized interest rate in the 3.8-8% range.

Advantages: most banks accept personal loans as they mature, pay interest every month, repay the principal at maturity, and the amount is valid for a longer period of time.

Now no personal loans, no credit, you can call at any time, which is convenient and reliable.

Disadvantages: but the general qualifications of the borrower, easy to apply for multiple letters of credit, resulting in credit fraud, which is also a conventional intermediary operations)

Third, credit card

Different demographic data: all student credit card holders.

Borrowing cost: reasonable use, use period without interest, annual interest rate of about 4% O ceiling: credit card ceiling of 80% .

Be careful not to fill it up

Advantages: low cost, credit does not show personal loans, and wool can be hidden.

Cons: short term, 30-45 days, not good for cash flow -LRB-except professional poker)

players).

Four, credit card large installment (credit card xx gold)

For people: Bank credit card centers promote business for most credit card holders.

Loan business cost: Interest rate is risky, generally 1.5% per month and 18% per year.

Amount: about $10,000 to $100,000

Advantages: The operation is simple, you can generally apply online, and the interest rate is acceptable when the bank has activities.

Cons: credit card instalments used to be listed as a“Credit card” in your credit report. The banks failed to notice these problems when they reviewed individual loans.

Now, many of them are considered personal loans, adding to the borrower‘s liabilities. Plus the interest rate is not low, it is not recommended to use more. In addition, banks will require post-personal loan credentials, which can cause problems for borrowers

Fifth, the bank consumption installment payment

Suitable for people: installment personal loans for specific consumption purposes.

Borrowing costs: the minimum interest rate is 2.5% (see my article on managing interest rates, not to be confused with more than 2% , the actual annual interest rate is about 5% to 18% .) . Repayment is the payment of the same amount of principal and interest or amortization.

Quantity: Up to 800,000 at present, and 1 million in a few cases.

Advantages: personal unsecured loans are relatively high consumption categories, such as phased decoration consumption, up to 8 years, up to 800,000 yuan.

Disadvantages: Personal loans bear interest immediately and are calculated according to the equal principal and interest (in fact, they are calculated according to the full principal, which is not expanded here). No advance payment, liquidated damages need advance payment.

Sixth, consumer finance companies

Suitable for: ordinary office workers and business owners

The cost of lending business: the actual market interest rate is 8-24% (note that from here on, the development of lending institutions has changed from banks to non-bank institutions, so the interest rate in China must be floating).

Limit: according to the relevant laws and regulations, a company's maximum single loan amount of 200,000 yuan. A couple can borrow up to 400,000 yuan.

Advantages: fast, the application on the same day, the approval on the second day, the personal loan on the second day, and the direct loan into the personal debit card.

Disadvantages: high interest rate, there are prepayment costs, usually equal to the principal and interest.

Seventh, online lending P2P

Suitable for people: individuals with credit defects need small unsecured funds.

Cost of borrowing: 18-36% . Online lending has mushroomed, helping many people through difficult times and spending countless people's credit... O credit line: usually only tens of thousands, emergency use (do not develop the habit of online lending, dependent) .

The Good: Banks can't approve consumer loans, at least one way.

Cons: after a personal net loan, you can't pay it off until you say goodbye to the basic bank personal loan.

Online personal loans and bank personal loans are mutually exclusive.

Private capital small personal loan company

Suitable for the crowd: individuals need to apply for bridge financing, personal credit default, and borrowers are too short of time.

Cost of borrowing: 24-36% . If consumer companies remain under the control of the CBRC, rather than recklessly setting prices, then private companies and small lenders will be even crazier.

"Interest rates must strive to comply with the statutory ceiling.

Limits: there are no limits to the management of the bridge fund, and tens of millions of students have their own possibilities. The main research of the bridge is to understand the customer's needs, the bank carries out additional functional materials, such as approvals and assets. This approach is typically based on corporate mortgage customers (with poor credit, or too little time for banks)

Advantages: The bank does not do the customer, the customer has some specific defects. No credit.

Cons: expensive, really expensive. Interest can be calculated on a daily or monthly basis. Get a haircut.

Intra-company borrowing

Suitable for the crowd: many companies employees are actually interest-free or low-interest personal loans, employee benefits.

Cost of borrowing: generally low or no interest.

Quota: discuss according to the development needs of the company.

Advantages: Low cost, no credit

Cons: perks. What's the downside? A: I just have to pay it off when I resign

10. Borrow money from a friend

Suitable for: everyone.

Borrowing costs: Soliloquy, suggest following the bank's base interest rate, if you can pay sex without interest, that's your ability.

Amount: Talk to yourself.

Pros: low cost, no credit. In case of online loan violence, we suggest parents to help, do not bring.

Disadvantages: See relatives company face, owe a favor.

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