What are the advantages and disadvantages of bank revolving loan?

1, long term, up to 30 years.

2. The quota is high, up to 80%.

3. It takes 1 hour to arrive at the account. There are many ways to deal with it.

Second, disadvantages: limited use.

Note: One-time application for revolving loan and revolving credit line sounds like an upgraded large credit card. After passing the first examination and approval, there is no need to greet the bank every time after the funds are withdrawn or returned, and there is no need to waste unnecessary time waiting for loans.

The interest of revolving credit products is calculated according to the actual use days of funds, and the borrower can withdraw or return the funds at any time according to his own financial situation, thus avoiding the penalty for prepayment of ordinary products that the borrower wants to prepay.

Extended data:

Revolving loan is a kind of personal housing revolving credit business, which means that customers can obtain a certain loan amount by mortgaging their commercial houses to banks. During the mortgage period, customers can withdraw money for recycling many times. When the single payment does not exceed the available amount, the customer only needs to fill in the withdrawal application form, without special re-approval, and generally 1 hour can withdraw cash.

Advantages:

1. Fast use of funds: once approved, it will be repaid with the loan within the validity period, and the handling bank of a single loan within the maximum amount has the right to be directly approved by the approver, which is quick and convenient.

2. Interest rate concessions: because of the cycle, short-term loans, long-term loans, short-term interest rates and loans within the revolving line can be realized. For decoration and other consumer purposes, the maximum downward floating rate can be 10% based on the benchmark interest rate.

3. Long credit period: the credit period can be up to five years, and you can continue to apply after the expiration.

4. Long term of a single loan: the longest maturity date of a single loan can reach 30 years.

Baidu encyclopedia-revolving loan