I borrowed 300 yuan from a small loan, and then I was notified by SMS that I was deducted 350,000 yuan. How can I have a contract?

You shouldn't be a real microfinance. Microfinance has no upfront cost. The entrance is in WeChat, and some online lending platforms will pretend to be micro-loans.

Micro-credit is a micro-credit product launched by Weizhong Bank, the first Internet bank in China, in 20 15. It has the characteristics of no mortgage and no guarantee, which is very suitable for young people to save money.

Applying for small loans does not need to provide any paper materials, and it is purely online, which is also in line with the operating habits of young people. In addition, supporting loans with loans is also a major feature of micro-credit loans. Interest will be repaid in a few days, and there will be no extra fees such as liquidated damages for prepayment except interest.

Product characteristics

As an Internet banking loan product launched by Weizhong Bank, "micro-loan" has the following characteristics:

(1) Unsecured and unsecured;

Most personal loans provided by traditional financial institutions require borrowers to provide guarantees such as mortgages, and it is difficult for individual users who cannot provide guarantees or have no fixed assets under their names to obtain loans. "Micro-loan" does not need mortgage and guarantee, and does not need to submit any paper materials, which can better meet the micro-financing needs of users with good credit.

(2)7*24 hours service, the fastest 1 minute to complete the loan;

Relying on strict risk control rules and complete technical support system, "micro-loan" provides 7*24 hours online service, with convenient and efficient procedures. All processes are completed on mobile phones, and loans can be made in 40 seconds at the earliest.

(3) There is no handling fee for prepayment;

Most traditional financial institutions require users to repay on the repayment date. If the user wants to repay the loan in advance, he needs to apply and pay the handling fee. In addition to the regular default withholding repayment, "micro-loan" also supports users to settle loans at any time without charging any other additional formalities.

Reference to the above content: Baidu Encyclopedia-Microfinance