Compare the similarities and differences between Internet loans and Internet micro-credit in commercial banks.

Often you don't need to prove too much personal financial resources, as long as you meet simple conditions, you can borrow money. Online loans cover almost all ordinary people, lowering the threshold for handling. Personal information needs strict examination, including financial resources and credit. To some extent, this information has strict auditing standards, and not everyone can handle it. So what is the specific difference between the two?

1. The process of bank loan is generally more complicated than online loan.

Although banks can apply for many loan products in official website and mobile banking, many loan businesses have to be handled at the counter of outlets. After the borrower submits the application form and related materials at the counter, the bank will review it; After the approval, we will inform the customer to sign the contract and go through the relevant procedures; Do not apply for a mortgage until the formalities are completed. Online loans, most of them are online applications. After the customer submits the application, the system will review it, and if it is approved, the loan will often be released immediately.

2. The audit basis of bank loans and online loans is different.

Bank loans measure the credit status of borrowers, mainly by reviewing their credit information; Online loans are usually based on big data and their own risk control (some are connected to the central bank's credit information system, which will examine customers' credit information).

3. Bank loans are generally longer than online loans.

Many bank loans take a few days, or even a week or two, from the time when the borrower applies to the loan. Online loans can be completed in about two or three days from application to lending, and some can be completed on the same day.

Personal advice:

I think in most people's minds, it is safer to get a loan from a regular bank. If the conditions are good and the assessed value of the mortgaged property is high, the loan amount in the bank will be higher than online. As for online loans, there are many online scams, and some platforms are irregular. If the borrower does not know whether it is a formal platform, it is easy to be deceived.