What is the difference between bank loan extension and loan renewal? If you don’t know, the consequences will be serious

Businesses and individuals can borrow money from banks. Someone asked: What is the difference between loan extension and loan renewal without repayment? As a result, they don’t have to pay you back?

This problem, in essence, can indeed help borrowers solve the problem of 虛擬銀行好處 non-repayment of loans, but in essence, there is a big difference between the two.

01 What is the bank loan extension?

As a reminder, the “annual interest rate 8%” is effective when the customer repays the loan on time. Assuming that the loan of HK$100,000 is borrowed, the repayment period is 60 months, the annual interest rate of the loan is 8%, that is, the actual annual interest rate is 8.52%; Whether it is a public housing loan or a HOS loan, the final approved loan amount, repayment period and interest rate will be adjusted according to market conditions and your actual situation.

Loan renewal simply put, is it because the loan is repaid at the time of the loan, the bank approves the loan can extend the extension and return time.

Loan extension is generally in this case because the borrower encounters special education situations such as temporary government funding shortages, the payment is not returned in time, and the production period is delayed due to social objective reasons. It is true that we cannot repay the loan on time, resulting in the student as a borrower. For business development or other personal information, the loan cannot be repaid, and it is necessary to use network loan funds to pass a period of study. Therefore, the borrower can apply to the bank management to apply for a renewal, with a detailed design explaining the reasons for the renewal, as well as the main source of repayment funds and repayment plan after the expiration of the future repayment in China. After the loan bank has reviewed and approved it, the loan can be transferred. formalities.

But if the bank of the corporate loan company can disagree with the borrower’s loan extension application, the borrower must find a way to repay, otherwise the student loan will become an overdue loan in my country, and the borrower will be credited due to some adverse effects.

02What is bank loan renewal?

Bank loan renewal originally refers to the borrower’s loan to the bank, and the borrower submits a new loan application before the loan bank loan, because, in accordance with the creditworthiness of the borrower, continue to take appropriate measures to guarantee another loan.

Bank renewal is the most common online loan management method for banks and borrowers. Borrowers who can get renewal are generally old customers and high-quality service customers of banks. Loan companies and enterprises have no problems during the loan period. Development is essential Deterioration, that is, the basic economic situation of the loan customer, the credit standing of the loan, the basic working condition of the loan project, the use of the loan, the loan guarantee, etc. basically have not changed much, and the loan risk analysis and evaluation research of the loan customer is relatively relatively unchanged. small.

03What is the difference between bank renewal rolling loan and bank loan?

Although we all need to continue to use bank loan funds for bank loan extension and bank loan renewal, there are essential differences between the loan bank and the management of the borrowing enterprise or other personal information:

First, the bank loan extension is unable to repay, and the bank loan extension is the normal operation of the borrower

In essence, extending the loan term is the last resort to repay the loan. It is a kind of re-support to the borrower after the borrower is insolvent, helping the borrower to tide over the financial difficulties, and enabling the borrower to repay a time buffer. It is a manifestation of the borrower’s loan risk.

Bank loan renewal is a different form of an important manifestation of normal refinancing of lenders. In essence, it is recognition of borrowers’ creditworthiness, business development status, and risk research status, so that they can provide online loans again the behavior of. In essence, it is a normal loan form for banks and borrowers.

Second, the Bank of China is unable to repay the loan renewal period, while the bank corporate loan renewal management is divided into first repayment and non-repayment

With rolling bank loans, the borrower cannot afford the last resort after repaying the loan.

Provide real estate services such as public housing or HOS housing without premium. Specially set super-preferential interest rates and flexible repayment periods according to the actual situation, so that you can save more, have more time, and easily deal with various financial problems.

There are three possible development methods for banks to renew loans: one is that the borrower repays the loan first, and then borrows according to the bank. This is called repaying the old and borrowing the new, which is the most common form of teaching; the second is that the bank can directly influence When borrowing the new and repaying the old, a borrower does not need to repay the loan in advance, but needs to use a new corporate loan company to directly restore the existing loan; the third is that the fundamental problem does not require repayment, and the bank can directly handle the renewal procedures That’s it.

3. The amount of bank loan extension and bank renewal loan is different

The renewal amount of a bank loan cannot exceed the original loan amount, can only be lower than the original loan amount, and cannot be greater than the original loan amount.

The difference between the renewal bank loan is that it may be the original loan amount, may be smaller than the original loan amount, or may be larger than the original loan amount. Therefore, renew the unlimited amount of the original loan amount.

Fourth, the loan term structure is different between bank loan extension and bank corporate loan renewal

The bank loan extension has a clear time limit. The extension of short-term loans (due within one year, including one year) shall not exceed the original term of the loan; the extension of medium-term loans (more than one year, five years including five years) shall not cumulatively exceed the original term Half of the loan term; the extended term of a long-term loan (more than five years) shall not exceed three years.

The renewal of loans by banks does not have any restrictions on the term of corporate loans. The term of the loan can be clarified according to the borrower’s fund management needs and the circumstances of the loan company’s project.

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