What's the difference between bank loans and online loans?

Types of bank loans:

1. According to different repayment periods, it can be divided into short-term loans, medium-term loans and long-term loans;

2. According to different repayment methods, it can be divided into demand loans, term loans and overdrafts;

3. According to the different purposes or objects of the loan, it can be divided into industrial and commercial loans, agricultural loans, consumer loans, securities broker loans, etc.

4. According to the different loan guarantee conditions, it can be divided into bill discount loan, bill mortgage loan, commodity mortgage loan and credit loan.

5. According to the different classification of loan amount, it can be divided into wholesale loans and retail loans;

6. According to the different classification of interest rate agreements, it can be divided into fixed interest rate loans and floating interest rate loans, and so on.

P2P online lending features:

1. Lending information is released more quickly and flexibly. Borrowers can publish loan information in time through the website and formulate their own loan interest rate level and repayment method. The operation process is more simplified and convenient, more direct and flexible, which is helpful for borrowers to publish loan information conveniently and quickly.

2. The loan procedures are more simplified and the cost is lower. The whole transaction is completed through the website, which simplifies the whole process and concentrates on a unified operating platform, reducing complicated procedures and process approval, shortening the loan cycle and greatly reducing the borrower's loan cost.

3. The borrower's loan information and credit status can be publicly inquired and compared. Through the website, you can directly query and compare the information and credit status of borrowers. For lenders, it is better to compare the information of each loan list with the borrower's situation, and choose different interest rates, loan periods and loan amounts for borrowed funds, which is helpful to reduce the risk of lenders.

4. Electronic loan contract mode. Different from the traditional loan method, the whole transaction contract is stored electronically on the website platform, which makes both borrowers and borrowers not limited by geographical and time factors, and promotes the possibility of establishing loan relations between strangers.

In addition, P2P online lending, as a financial innovation generated by the combination of traditional lending business and Internet technology, brings not only changes in form, but also a purer credit transaction model in a specific lending business field.

I hope I can help you!