Is it reliable to borrow money from elephants?

Elephant Premium is an online credit loan product, which is generally reliable, but you need to consider the following factors before making a decision.

First, applying for this kind of loan will affect your loan in the bank. Xiaoya loan is an online loan, and banks are very resistant to this kind of loan. As long as you have applied for a similar online loan, the bank will think that your personal qualifications are poor. When you go to the bank to apply for a large loan such as a mortgage, most of them will refuse your loan request. Therefore, if you need a lot of money in the future, it is not recommended that you apply for such loans.

Second, the interest rate for applying for such loans is higher. Compared with similar products of banks, the interest rate of such online loans is generally higher than that of similar credit loans of banks. If it is not very short of funds, it is not recommended to apply.

Third, there are limited repayment options for applying for such loans. This kind of credit loan provided by ordinary banks can choose to repay the interest first and then the principal at one time, which is also friendly to the applicants. After all, the monthly repayment amount is not large, but the online loan is different. Generally, you can only choose equal principal and interest, and you must repay the principal and interest in each period. The converted interest rate is much higher than the marked interest rate. If you have a small cash flow and a large loan amount, the repayment pressure is also great.

Fourth, the amount of such loans is low. The amount of such online loans is generally low, unless you are on his white list, which is generally aimed at middle-level personnel of governments, enterprises and institutions with stable work income or above the provincial and municipal level. People who have such jobs will not apply for online loans, so except for these occupations, most of the quotas are relatively low.

Generally speaking, don't apply for this kind of online loan unless you have to. Priority is given to similar products of our bank. If your qualifications can't meet the bank's access requirements, you should also give priority to temporary borrowing from friends and relatives. Finally, consider the above three points, and then choose online lending. After all, every application will be reported to the People's Bank of China, and it is always bad to have such online loan records for credit investigation.