Personal Banking

Personal Mortgage Loan for Construction Machinery and Equipment

Product Definition     Guide

Product Definition

Personal mortgage loan for construction machinery and equipment refers to a loan that IB grants to a borrower for him or her to purchase a commercial vehicle and construction machine.


• Application requirements

1. Applicant must be Chinese citizens (including Hong Kong, Macau and Taiwan residents) aged between 18 (inclusive) to 60 (inclusive) years old that have full civil capacity, and shall meet the basic requirements for the targets of personal business loan;

2. The borrower must have a permanent domicile in the administrative business area of the branch, provide valid residence certificate, and have lawful and valid identity certificate and register certification;

3. The borrower shall have the operation qualification or be attached to a company with professional operation qualification;

4. The borrower shall have more than one year's relevant working experience and have the capacity of repayment;

5. Other requirements specified by IB.

• Loan line, tenure and interest rate

1. The loan line cannot exceed 70% of the net value of the construction machine or equipment to purchase at the maximum; if the borrower intends to purchase more than one machine or vehicle, the proportion of down payment will be raised for each one.

2. The loan tenure can last for up to five years, and it will be determined by taking into overall consideration the age, incomes, repayment capacity and the available term of mortgage of the borrower.

3. Loan interest rate: It follows the benchmark interest rate for the corresponding term and bracket as announced by the PBOC and related floating ratio.

• Mode of repayment

1. Where the tenure is no more than one year (inclusive), the borrower may pay the interest monthly and settle all the principal and interest upon maturity; or repay the principal in installments; or adopt other method accepted by the bank.

2. Where the tenure is longer than one year, the borrower may choose equal principal and interest repayment, equal principal repayment, principal repayment in installments, or adopt other method accepted by the bank.

• Application materials

1. Valid proof of identification, household register, valid proof of residence address, and marriage certification of the borrower and his/her spouse;

2. Proof of personal income or other materials capable of proving the personal assets of the borrower;

3. Business license of the borrower's business entity that is through annual inspection or the duplicate and cooperative operation agreement of the professional operation company to which the borrower is attached;

4. The certification for the purpose of loan;

5. The construction contracting (leasing) contract, transportation agreement or cooperative operation contract signed by the borrower with the construction, transportation, and logistic organizations;

6. Other materials as required by IB.

(The above contents can only be used as reference. The availability of the business and the specific transaction requirements are subject to the regulations of local IB branches. Please consult the local IB branches for details before going through relevant formalities.)