Inclusive Finance will be credited. Inclusive Finance is the abbreviation of Inclusive Financial Information Service (Shanghai)**, and now the company has access to the central bank's credit system. The user's borrowing in inclusive finance, including the amount of the loan and the repayment situation, will be reported to the credit information system. If the user is able to repay the loan on time after borrowing, then this will have a positive impact on the user's personal credit;Conversely, if the user is late in repayment, then this will have a negative impact on the user's personal credit, which may affect the user's future credit loan application, etc.
Here's a specific example:
Mr. Li borrowed 50,000 yuan from Inclusive Finance for personal consumption, and according to the contract, he was required to repay the loan within one year. During the loan period, Mr. Li repaid the loan on time and did not incur any overdue records. A year later, he managed to pay off the loan.
Since Mr. Li's borrowing behavior in Inclusive Finance was reported to the credit information system, his good repayment record was also recorded. This allows his personal credit score to improve, and when he applies for other lines of credit in the future, it will be easier for banks or other financial institutions to approve his application and may give him a more favorable interest rate on the loan.
Conversely, if Mr. Li incurs an overdue record during the borrowing period, then this will be recorded in the credit reporting system, negatively affecting his personal credit. When he applies for other lines of credit in the future, the bank or other financial institution may have doubts about his creditworthiness, resulting in his loan application being rejected or receiving a higher interest rate.
Therefore, inclusive finance will be credit-based, and users need to repay on time after borrowing to maintain a good personal credit history.