What does microcredit mean?

Small-sum general credit account refers to the payer's initiative to initiate an inter-bank payment request to the payee bank through the payer bank. The common ones are remittance, inter-bank transfer, collection and acceptance remittance, etc. For example, Mr. A has a card of the Agricultural Bank and received a small sum of money into his account, which means that someone else has remitted money to Mr. A's card. If you receive this message, you just need to know whether anyone is sending money to yourself at present. Some users think that the information is related to the loan because they see the credit, but it is actually just a reminder of remittance.

1. Microfinance is a comprehensive consumer loan with individuals or enterprises as the core. The loan amount is generally more than 6,543,800 yuan and less than 200,000 yuan. The treatment process generally needs to be guaranteed. Microfinance is an extension of microfinance in technology and practical application. Microfinance in China: It mainly serves agriculture, rural areas and small and medium-sized enterprises. The establishment of small loan companies has rationally pooled some private funds, standardized the private lending market, and effectively solved the financing difficulties of agriculture, rural areas and small and medium-sized enterprises. At present, there are also personal micro-loans for office workers, generally at 1, 000-50000 yuan. Most of them don't need mortgage, but the credit and information review is strict. 2065438+On September 6, 2008, the Ministry of Finance of China and State Taxation Administration of The People's Republic of China issued a notice, clarifying that the interest income obtained by financial institutions in granting small loans to small enterprises, micro-enterprises and individual industrial and commercial households is exempt from VAT.

Two, China bank microfinance application conditions.

1. China citizens with full civil capacity who have a fixed residence in China, or a fixed residence (or valid residence certificate) in a local town, or a fixed business place; 2. Have a legitimate occupation and stable economic income, and have the ability to repay the principal and interest of the loan on schedule; 3. Without a bad credit record, the loan cannot be used for stock trading and gambling.

Iii. Application materials for small loans from China Bank.

1. Provide personal identification, which can be ID card, residence permit, household registration book, marriage certificate and other materials; 2. Provide stable proof of address, house lease contract, water and electricity bills, property management and other relevant certificates; 3. Provide stable proof of income source, bank flow sheet and labor contract.

Fourth, the basic knowledge of interest calculation

Compound interest: compound interest means adding interest at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest. Penalty interest: If the lender fails to repay the bank loan within the specified time limit, the penalty interest paid by the bank to the non-observant according to the contract signed with the parties is called bank penalty interest.

The formulation and filing of interest-bearing settlement rules and interest-bearing measures for deposit and loan business formulated by national commercial banks as legal persons shall be reported to the head office of China People's Bank for the record and informed to customers; Regional commercial banks and urban credit cooperatives should be reported to the branches of the People's Bank of China and the central branch of the provincial capital for the record, and inform customers; County rural credit cooperatives as legal persons may, according to the actual situation of the county rural credit cooperatives, formulate the rules for interest calculation and settlement and the interest-bearing measures for deposit and loan business, and report them to the branch of the People's Bank of China and the central branch of the provincial capital for the record, and the rural credit cooperatives as legal persons shall notify the customers.