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What is a private personal loan?

Time:2013-02-26         Source: Rong 360 original         Author: Li Jing

        problem:Financial 360 LoanExpert, hello! What is folk?personal loan?



Financial 360 loan expert reply: Hello!

Private loans are different from traditional onesBank loanIt is a form of credit activity in which a non-governmental organization or enterprise lends monetary funds in accordance with the mutually agreed interest rate and conditions that must be returned. The lenders can release the concentrated monetary and monetary funds through loans, which can meet the short-term funding needs of the lenders and promote economic development. At the same time, the lenders can also earn interim income and make profits.

Private loans must be punctual and observant, as long as the agreement is not illegal and the agreed interest rate must not exceed four times the bank’s legal interest rate.

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