Is the micro-credit line recovered?

Small loans cannot be recycled. Microfinance does not have the function of revolving line. If the previous loan has not been repaid, you can't apply for a loan if you want to continue to borrow small loans.

Revolving line means that within the specified line, as long as there is a line, you can continue to borrow, regardless of whether you have applied for a loan before or not, and applied for several loans.

Micro-loans currently do not support revolving loans. After borrowing money every time, you can apply for a loan again after paying off the loan.

However, microfinance is a revolving credit, and you can choose to borrow money to pay back the money. When it shows that you have settled, it means that your credit cannot be borrowed from the micro-loan and the loan amount is zero. However, if you have not settled, it means that there is still a loan amount in the micro-loan, and you can apply for a loan from the micro-loan.

The revolving credit line we often say is that you can apply for a loan again within this credit line, which means you can apply for multiple loans at the same time. At present, micro-loans do not support revolving credit lines. Microfinance cannot be recycled, and there is no turnover line. When borrowing a small loan, you can only apply for a loan again after the loan is paid off.

Revolving credit line means that when applying for a credit line, you don't need to pay off all the loans at one time, but you can choose to repay them by installments. This loan method is calculated as 30 days per month, and it can be automatically extended for 30 days after the loan expires, and the number of extensions is not limited, which is called revolving credit line. Because the revolving credit line is a short-term loan, the interest is calculated on a daily basis. As long as you make good use of the revolving credit line function, you can solve the urgent need with less interest and no need to borrow money from others, which is very convenient and flexible.

It is suggested to apply for loans through formal channels: for example, Agricultural Bank of China (ABC), the definition of Netjet loan refers to the small consumer loans granted by ABC to individual customers who meet certain conditions in cash, and the customers apply for them themselves, receive them quickly, automatically approve them, and use their own letters.

Application conditions (1) Basic conditions

1. At least 18 years old and not more than 60 years old, with China nationality and full capacity for civil conduct.

2. Hold legal and valid identity documents.

3. Our e-banking customers and holders of security authentication tools issued by our bank. (Currently only second-generation KBao customers are supported)

4. Good credit status,

5. There is no unexpired "NetJet Loan" quota, and there is no outstanding "NetJet Loan" balance.

6 stable income, with the ability to repay credit on schedule.

7. The purpose of the loan is reasonable and clear.

The loan amount for applying for NetJet is 30-300,000 yuan; The loan amount is valid for 30 days, and the borrower needs to use the loan within the validity period. The loan amount cannot be applied, approved and issued in a few minutes.