Some people are in urgent need of money. He did not know which channels could apply for loans. He went to borrow money from usury. As a result, they are often urged to pay debts. He had to find relatives and friends to help solve the problem. Here is how you can handle formal personal loans. There are five ways to choose!

Method 1: Bank Fast Loan Products

The inherent impression is that the review of bank lending products is slow. It takes one month to handle the mortgage loan. Credit loans take 7 days at the earliest. Banks have made innovations in fast loan products. Many banks can realize online review and real-time payment. Users can apply by mobile phone or website. After the review and approval, the loan can be released the same day.

Advantages and disadvantages: The requirements for bank fast loan products are high. Only high-quality customers are eligible to apply for loans. Some people with flawed qualifications may not be able to apply. Bank lending products crush small loan products in terms of lending interest rates.

Method 2: Internet Small Loan

Internet finance is developing. Many enterprises have entered the financial field. They have their own micro-loan products.

Users can download relevant financial APP. They can apply online. Payment will arrive in 3 seconds at the earliest.

Advantages and disadvantages: The advantage of Internet small loans is the fast-lending speed. But the shortcomings are obvious. Interest rates are high. All products are white list invitation system. There is no way to open the quota.

Method 3: P2P Channel or Small Loan Company

Do P2P channels and small loan companies have loan products that arrive quickly? Yes. They lend faster than traditional bank products. Compared with Internet small loan products, the speed will be slower. People apply for loans through these channels. The earliest loan can be made on the same day.

Advantages and disadvantages: The advantage is low requirements. There are many people who meet the conditions. The disadvantage is that P2P channels and small loan companies are mixed. Most channels have high lending rates. Some even have an annual interest rate above 20%. There are various miscellaneous expenses here. The cost is high for the lender.

Method 4: Credit Card Cash Installation

If you have a credit card. When money is needed, it can be used for emergency. Credit card cash installment function is strong. Its loan amount is determined by the available balance. Funds can be received and repaid on time every month.

Different banks have different rates for credit card cash installments. State-owned banks are low, while commercial banks are high.

Advantages and Disadvantages: Credit card cash installment funds can be received. The review is simple. The process is fast. The disadvantage is that the loan amount is limited by the available credit card amount. High interest on repayment. The annual interest rate is about 18%. The cost of borrowing is high. There are restrictions on early repayment. Some do not accept early repayment. Some can repay the loan early. However, this requires high handling fees and interest.

These are some tips for getting personal loans quickly.