Description

A loan to finance the decoration of the borrower's residential/commercial house.

Handling Guide

Requirements on Applicant

•  Be a natural person with full civil capacity, and own residence household book or other legitimately valid certificates of residing in the city of the handling bank;

•  Be creditworthy with steady income, and have the ability to repay timely the principal and interest of the loan;

•  The house to be refurnished shall locate in the city of the handling bank;

•  Can offer refurnishing budget provided by the refurnishing firms;

•  Can offer guarantee accepted by the bank;

•  Meet other requirements prescribed by the bank.

Documents Prepared

•  The bank's Personal Loan Application Form;

•  Original and photocopy of the borrower's valid ID documents and valid residential certificates;

•  Income certificates from the borrower's present employer or certificates of the latest tax claim for self-employed borrowers;

•  Refurnishing budget and refurnishing contract;

•  Guarantee documents, and

•  Other documents prescribed by the bank.

Line, Period and Rate

•  Credit Line : up to 70% of your refurnishing budget with a maximum of RMB 500,000 for residential house refurnishing.

•  Credit Period: up to 5 years.

•  Credit Rate : in the case of loans within 1 year, the loan rate is contracted with no split upon rate adjustment. For loans beyond 1 year, the loan rate is negotiated annually, and new rate will be quoted from Jan 1 of the next year if any rate adjustment occurs.

Repayment

Two repayment modes are available for loans within 1 year,

•  One-off repayment of the lump-sum principal and interest, and

•  Several payments of interest only by month/quarter and principal and interest of the last term upon due.

For loan with period beyond 1 year, the repayment mode is negotiable in accordance with relevant regulations of the bank.