Is Xiaoya Loan reliable?

Xiaoyadai is a credit loan product launched by iQiyi. Generally speaking, it is trustworthy, but before applying, you need to consider the following factors before making a decision.

First, applying for this type of loan will affect your bank loan. Xiaoyadai is an online loan, and banks are very resistant to this type of loan. As long as you have applied for similar online loans, the bank will consider your personal qualifications to be poor. When you go to the bank to apply for a large loan such as a home loan, it will Some will deny your loan request. Therefore, if you have large financial needs in the future, it is not recommended that you apply for this type of loan.

The second is that the interest rate for applying for this type of loan is higher. Compared with similar products from banks, the interest rates of this type of online loan are generally higher than similar credit loans from banks. If you are not very short of funds, it is not recommended that you apply.

Third, the repayment options for applying for this type of loan are limited. Generally, for such credit loans provided by banks, you can choose to repay the interest first and then repay the principal in one go. This is also more friendly to people applying for loans. After all, the monthly repayment amount is not large, but online loans are different. Generally, you can only choose equal principal and interest, and you have to repay the principal and interest every period. The converted interest is much higher than the marked interest rate. If your cash flow is small and the loan amount is large, repayment will also be very stressful. .

Fourth, the amount of such loans is relatively low. The amount of this kind of online loan is generally low, unless you are on his white list, and the white list is generally targeted at middle-level people in governments, enterprises and institutions with stable income, or people at provincial or municipal level management or above. , people with such jobs will not apply for online loans, so except for these occupations, most other loans are lower.

In general, don’t apply for this type of online loan unless you have to. Give priority to similar products from banks. If your qualifications do not meet the bank’s access requirements, give priority to finding friends and relatives. Borrow for the time being, and finally consider the three points above before choosing an online loan. After all, every application you make will be on the credit report of the People's Bank of China. It is always not good to have such online loan records in your credit report.