Introduction to Functions   Product Features   User Guide

[Introduction to Functions] 

Personal Business Loans refer to loans granted to borrowers by IB for carrying out legal production operation activities, such as the circulation of working capital, purchasing or updating of business equipment, payment of business premises rental, decoration of commercial property, etc.

[Product Features] 

1. Simple application and quick examination and approval 

Procedures for loan applications are simplified. An application can be examined and approved quickly, within five business days if application materials are complete. It helps customers to grasp business opportunities.

2. Cyclical utilization utilization with one credit extension 

Xingyetongprovides a single credit extension for up to 10 years and cyclical credit lines throughout the term of extension, thus avoiding the troubles of applying over and over again. 

3. Self-service utilization, convenient and interest-saving 

After receiving the self-service line, customers may, staying at home, customers may stay at home and have loans issued or repaid on the IB internet banking and telephone banking via self service. Hence, this can save financial expenses. 

4. Diversified guarantees and easier loans 

Flexible and diversified guarantee methods are provided, including mortgages, pledges, warranties by natural person, warranty by professional guarantor companies, warranty by market management authorities, joint guarantees, mutual guarantees, and combined guarantees, etc.

5. Online application and fast response 

Apart from the conventional applications over the counter, customers may apply for loans on the IB website (www.cib.com.cn). The IB Pass’s exclusive Customer Manager will contact customers within two business days to provide full-range services such as loan consultations and business transactions.

[User Guide] 

• Application requirements

Personal business loans aimed at Chinese citizens (including Hong Kong, Macau and Taiwan citizens) that meet the policies of IB for personal business loans and have full capacity for civil conduct, including individual industrial and commercial entities, and major partners or major natural-person shareholders of individual proprietorship enterprises, partnerships or limited liability companies, etc.

1. Applicants must be aged between 18 (inclusive) and 60 (inclusive) and have a fixed address in the area covered by the branch concerned and possess a permanent household residence certificate or valid certificate of residency.

2. A borrower and his or her business entity should have sound credit rating and stable operation.

3. Other requirements specified by IB.

• Credit line, tenure and interest rate

1. The line of credit shall be determined in consideration of the borrower’s circumstances, including credit rating, actual loan needs, the guarantee provided, etc. 

2. Loan tenure will vary with the loan purpose and the guarantee provided, and it may be upto 10 years at most.

3. Loan interest rate: Follows the benchmark interest rate for the corresponding term and the corresponding bracket as announced by the PBC and the responsive floating ratio.

• Method of loan

Single loan can be applied and application for line of credit is also allowed. 

• Method of repayment

1. If the loan term is less than one year (including one year), both the principal and interest can be repaid in a one-lump sum upon maturity or interest may be paid each month (quarter) and the principal is repaid in a lump sum.

2. If the loan term is more than one year, the principal and interest may be repaid monthly or via other methods of repayment approved by IB.

• Application materials

1. Valid proof of identification of the borrower and his/her spouse.

2. Business license with annual audit record.

3. Supporting descriptions of the operational situation of the business entity.

4. Proof of income and other assets of the borrower.

5. Relevant agreement or contract on the loan purposes, or other certification.

6. Guarantee-related materials.

7. Other materials required by IB.

(The above information is for reference only and specific handling requirements are subject to provisions of local IB branches. Please consult your local IB outlet for details before going through relevant application procedures.)

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