1. Target customer
The applicant must be civil servant or the staff with the budgeted posts of public institutions
2. Intended use of the loan
It can be used to purchase a car or large consumer durable goods, decorate, travel, educate, etc.
3. Application requirements
1) The applicant should be natural person of full civil capacity, more than 18 years old (including 18 years old),within 60 years old, with legal valid identity certificates.
2) The applicant and his/her spouse should meet the credit record condition of SRCB’s Personal loan management approach.
3) The applicant should have fixed residence and source of income, with sound credit record, and have the capability of repaying principal and interest. The applicant should be the cardholder of Xin Feng Card or civil servant or the staff with the budgeted posts of public institutions.
4) The applicant has SRCB’s debit card or personal settlement account with SRCB.
5) Other conditions prescribed by SRCB.
4. Application materials
1) Valid identity proof
2) Cardholder of Xin Feng Card: Xin Feng card original principle, original proof of income or original Salary details or original tax bill.
Applicant without Xin Feng Card: Certificate of Employment which can improve that applicant is civil servant or the staff with the budgeted posts of public institutions; original proof of income or original Salary details or original tax bill
3) Proof of Intended use of the loan
4) Other application materials prescribed by SRCB.
5. Credit limit, loan term and interest rates
1) Maximum limit is RMB 500,000. Credit limit is mainly set according to the Intended use of the loan and the repayment ability.
2) The loan term is determined taking consideration of the income of the applicant and the repayment ability, and it is generally within 3 years, the maximum is 5 years. In addition, when the loan is due, the age of applicant should not be over the state pensionable age.
3) Loan interest rates are prescribed by SRCB according to the customer risk or profit contribution.
6. Repayment
1) Loan term is within 1year or 1year: One time repayment / Repayment by months (seasons);
2) Loan term is over 1year: Repayment by months/ monthly certain principal payment/ monthly (seasonal) interest repayment / principal repayment by years (seasons)
The explanation right belongs to SRCB’s Personal Consume Loan.
