How long after the bank loan is approved?

for ordinary bank loans, the loan will be released within one week after the loan is approved. If it is a mortgage, it depends on whether the current bank lending funds are tight. If funds are tight, it may take a month or even longer to lend money. With sufficient funds, the loan will be completed in a week or two.

In addition, different loan products may not have the time to lend money. For example, in the credit loan business, the fastest loan can be completed on the same day.

bank loans

According to different classification criteria, bank loans have various types. Such as:

bank loan

bank loan

1. According to different repayment periods, it can be divided into short-term loans, medium-term loans and long-term loans;

2. According to different repayment methods, it can be divided into demand loan, term loan and overdraft;

3. According to different purposes or objects of loans, they can be divided into industrial and commercial loans, agricultural loans, consumer loans, securities broker loans, etc.

4. According to different loan guarantee conditions, it can be divided into bill discount loan, bill mortgage loan, commodity mortgage loan, credit loan, etc.

5. According to different loan amounts, it can be divided into wholesale loans and retail loans;

6. According to different ways of interest rate agreement, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.

short-term loans

short-term loans refer to loans with a loan term of less than one year (including one year). Short-term loans are generally used for the liquidity needs of borrowers in production and operation.

The currencies of short-term loans include RMB and major convertible currencies of other countries and regions. The term of short-term working capital loans is generally about six months, and the longest is no more than one year; Short-term loans can only be extended once, and the extension period cannot exceed the original term.

the loan interest rate is determined according to the interest rate policy formulated by the people's bank of China and the fluctuation range of the loan interest rate, and according to the differences in the nature, currency, use, method, term and risk of the loan, among which the foreign exchange loan interest rate is divided into floating interest rate and fixed interest rate. The loan interest rate is indicated in the loan contract, and customers can check it when applying for a loan. Overdue loans are subject to penalty interest.

The advantage of short-term loans is that the interest rate is relatively low, and the supply and repayment of funds are relatively stable. The disadvantage is that it cannot meet the long-term capital needs of enterprises. At the same time, because short-term loans adopt fixed interest rates, the interests of enterprises may be affected by interest rate fluctuations.

credit conditions

1. credit line

the credit line is the maximum amount that the borrower is allowed to borrow in the agreement between the borrower and the bank.

2. Revolving credit agreement

A revolving credit agreement is an agreement that banks legally promise to provide loans to enterprises that do not exceed a certain maximum limit.

3. Compensatory balance

Compensatory balance is the minimum deposit balance that the bank requires the borrower to keep in the bank according to the loan limit or a certain percentage (generally 1% to 2%) of the actual borrowing amount.