Can consumer loans be used directly to pay off debts?

1, also known as consumer loan, is a loan issued by commercial banks and financial institutions to consumers on the basis of consumer credit for purchasing durable consumer goods or paying other expenses.

Under normal circumstances, it is not allowed to repay the previous loan with this loan, that is, it is not in compliance. Loans can only be used for specific purposes such as production, operation and consumption. Borrowing new debts to repay old debts is not only inconsistent with the credit policy, but also the most taboo thing for banks.

2. Repaying bank consumption loans:

1) This method, also known as the final settlement method, means that the borrower pays off the loan principal and interest on the loan maturity date and repays the interest every month. Generally applicable to loans with a term of 1 year (inclusive).

2) Matching principal and interest repayment method refers to the equal repayment of loan principal and interest every month within the loan term.

3. Analysis of credit consumption loans of major banks:

1) China Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank and other four major banks in China, as well as relatively large banks such as Bank of Communications and Postal Savings Bank, all take the central bank's benchmark interest rate as the benchmark, and the national benchmark interest rate for more than one year (including one year) is 4.35%; The interest rate for one year to five years (including five years) is 4.75%; For more than five years, the interest rate is 4,9%.

2) It is divided into credit card installment loan (10- 15, and credit card is generally 30,000-50,000) and personal credit consumption loan (15+, with the maximum amount of 800,000). The repayment method is optimized as follows: borrowing for repayment, monthly interest settlement, repayment of principal when due, and the cycle is generally one or three years (collectively referred to as revolving loan, but the names of banks are different), and there is also an equal principal repayment.

3) If the cycle is one year, by the eleventh month, the managers of all banks will call you to ask whether to renew the loan. Basically, you can repay the principal and renew the loan in advance, depending on the specific situation.

Introduce the situation of major banks in detail:

(1) China Merchants Bank lightning loan (installment credit card). The application object of lightning loan is mainly the card customers of China Merchants Bank; The loan amount is 1000 yuan to 300,000 yuan; The daily interest of the loan is generally 0.02%-0.04% (11000 days 2-4 yuan); The longest loan period can reach 10 year; You can choose two repayment methods: equal principal and interest and one-time principal and interest (this repayment method is mainly for loans of 1 month).

(2) CCB Express e-loan (personal credit consumption loan) is also the most common, and the loan amount is generally 1, 000 yuan to 300,000 yuan; The annual interest rate of the loan is 4,9% and the monthly interest rate is 0,40%, 1 1 day 1, such as 33 yuan; The longest loan period is one year; The borrower can use it to repay the loan, and all the principal and interest of the loan must be settled on the maturity date of the loan.

(3) CCB: fast mortgage loan for individual industrial and commercial households (mortgage loan), with a term of 10 year (individual industrial and commercial households need county houses and shops to mortgage), with an annual interest rate of 3.85% and a monthly interest rate of 0.32%, 1 0,000 days, with interest paid in July and 320 months.

(4) ICBC Ronge Loan (personal credit consumption loan). Borrowers with loans of 600,000-800,000 yuan can choose the repayment method of matching principal and interest, average capital, paying interest on schedule and repaying principal at one time. The annualized rate is 4.35%, the monthly interest rate is 0.36%, the daily interest rate is 1.2 yuan, and the principal will be repaid at maturity. 、