Is it legal to borrow money from Douyin?

Douyin Anxin Lending is a formal and legal loan service. It cooperates with licensed financial institutions, abides by relevant laws, provides clear lending agreements, and is supervised by regulatory agencies.

Is Douyin’s loan legal and legal?

Answer: Yes

Detailed explanation:

Douyin rest assured that it is the Douyin platform and licensed The legality of loan services launched in cooperation with financial institutions is reflected in the following aspects:

• The cooperative institutions are legal and compliant: Douyin Anxin Lending cooperates with a number of licensed financial institutions. These All institutions have been reviewed and approved by relevant national departments and have legal lending qualifications.
• Comply with relevant laws and regulations: Douyin Fangxin Lending strictly abides by the "General Principles of Loans", the "Commercial Bank Law" and other relevant laws and regulations, and meets regulatory requirements in terms of lending procedures, interest rate regulations, etc.
• Clear loan agreement: Before the borrower submits a loan application, Douyin Anxin Lending will provide a clear loan agreement, clarifying important information such as loan amount, term, interest rate, repayment method, etc. Protect borrowers’ right to know.
• Supervision by regulatory agencies: Douyin is supervised by regulatory agencies such as the People's Bank of China and the China Banking and Insurance Regulatory Commission, and undergoes regular inspections and evaluations to ensure that its operations are compliant and legal.

It should be noted that:

• Although Douyin is safe and legal, borrowers still need to be cautious when borrowing and evaluate their repayments ability to avoid over-borrowing.
• Late repayment will result in late payment fees and poor credit record, which will affect personal credit.

The above is the detailed content of Is it legal to borrow money from Douyin?. For more information, please follow other related articles on the PHP Chinese website!