How to apply for a credit loan? 3 minutes to analyze the credit interest rate and limit

A credit loan is a loan that a bank applies for to evaluate your personal credit status, that is to say, a loan without any collateral is only based on your personal credit conditions. Since a credit loan is a high-risk loan product, the interest rate of a credit loan is It will also be the highest among the bank's loan products!

What is a credit loan?

A credit loan is a loan that is applied for based on the borrower's credit. The borrower does not need to provide collateral such as a car or house when applying. The bank will use the borrower's credit record, economic ability and other conditions as the review criteria to determine the amount of the loan and the amount of the loan. Interest rate, this type of loan method is more risky for banks, so the requirements are more stringent, and the review process is also more detailed and rigorous.

5 advantages of applying for a credit loan

The advantages of applying for a bank credit loan are listed as follows:

• Disclaimer
• Opportunity to get a loan
• High loan amount
• Long installments and low monthly payment
• Suitable for short to medium term capital turnover

Compared to other secured loans, credit loans are actually a very good loan product! Because it does not require collateral to lend!

Apply for credit loan conditions

Have full capacity for civil conduct

According to China's civil law , a person must be at least 20 years old or a minor married, with a normal mental state, and be able to correctly understand the legal norms, in order to be considered to have full capacity to conduct civil acts with legal effect alone. A person who does not have full capacity, even if he completes the application for a credit loan alone, has no legal effect.

Proof of stable income

Documents such as salary transfer certificate and withholding voucher are an important basis for the bank to review the repayment ability. At least 6 months of stable income are required before the bank can approve the loan.

Insufficient amount after applying for on-loan or loan increase

The bank will ask for personal joint records when reviewing the loan to understand the applicant's personal credit score. If there is a bad credit record such as overdue repayment, credit blank, late payment of credit card or cash advance, etc., resulting in poor credit status, will affect the success rate of the loan.

Simply put, a credit loan can be applied for if it meets the following basic thresholds:

• Personal joint score should be higher than 500 points
• Have labor insurance or salary transfer personal financial proof
• There should be no credit defects, late payment of loans, bad debts, etc.

How much is the loan interest rate?

Generally speaking, the loan interest rate of bank credit will be determined according to the customer's conditions. The interest rate usually ranges from 2.99 to 9% per annum. If your joint score is lower, it is likely that the interest rate will be higher!

The general joint score ranges from 200 to 800! Usually less than 400 is a failure! How to apply for a joint report? You can review it yourself! You can also refer to 8 ways to improve your personal joint score?

There are already more than 20 bank loans in Taiwan. The plans and interest rates that each bank can provide are different. Just take a look at the preferential plans currently launched by the bank! If you still don't know how to find it? You can call for a free consultation, and we will help you make a suitable plan according to your situation!

credit loan loan amount

The loan amount of the credit loan is mainly based on your salary transfer income. As a standard, the total loan amount of the credit loan should not exceed 22 times your salary transfer income!

For example: Your monthly salary is 40,000 yuan, and the annual salary is 14 months, which is 4*14=560,000

Converted to a monthly salary of about 46,000, but 22 times of 46,000 is 1.01 million

We can estimate that the maximum loan amount you can borrow is 1.01 million. In fact, there are too many conditions for the bank to evaluate the loan amount. It must be based on the result of the bank's final loan review. If you are not very clear, you can also consult online to teach you. How to do it!

The general credit loans they can install in installments are mainly 5 to 10 years! It will also vary according to your personal circumstances.

How to try to calculate the monthly payment amount of a credit loan? There are many trial calculation tools on the market, you can try the following tools:

• China Trust Trial Calculation
• Sanxin Bank Trial Calculation
• Cathay Pacific China Trial Calculation

The above tools can help you try to calculate the monthly payment amount of the credit loan!

Documents required to apply for a credit loan

If you are applying for a credit loan, you can prepare these documents for preliminary review by the bank:

• Dual documents
• 1-year record of salary transfer cover and inside pages
• Income Statement (also known as Withholding Voucher), read How to Apply for Income Statement
• Details of labor insurance changes, you can read the details of labor insurance changes how to apply
• Joint credit report, you can read how to apply for joint report

Credit loan application process

How to apply for a credit loan? Here are 5 simple steps for you to apply

1. Apply: Apply to the bank.
2. Consultation: Plan the program and content according to your conditions.
3. Submission: After the materials are prepared, the review and the credit report will begin.
4. Review: Through the bank's internal review system, it is decided whether to approve the loan to the borrower.
5. Appropriation: After the process is completed, the bank will approve and allocate funds.

Compared with other loans that require collateral, such as home mortgage loans, car loans, and motorcycle loans, the basic threshold is lower, and you only need to use your personal "credit" to get a loan! In conclusion, I highly recommend applying for a personal credit loan! As long as you can meet the conditions for applying for a credit loan! Then do it!

Credit Loan FAQ

Insufficient credit score, what should I do if I can't get credit?

You can first sort out your credit status and find the correct loan method. If you cannot successfully apply for it, we can also assist you in teaching you the best way to pass the loan.

How much credit can I borrow?

Usually it will not exceed 22 times your personal debt ratio, and you can successfully handle it from a minimum of 100,000 to a maximum of 2 million! It mainly depends on your personal conditions.

Which bank has the lowest interest rate for applying for a credit loan?

Generally, Yushan Credit and Taishin Credit have the lowest interest rate of 1.99%. In fact, the interest rate is quite low, but your personal conditions will also affect the interest rate.