1. Target customer
The applicant must be SRCB’s Personal Housing Mortgage Loan customer.
2. Intended use of the loan
It can be used to purchase a car or large consumer durable goods, decorate, travel, educate, etc. It also can be used for the business production and operation.
3. Application requirements
1) The applicant should be natural person of full civil capacity, more than 18 years old (including 18 years old) with legal valid identity certificates.
2) The applicant should be SRCB’s Personal Housing Mortgage Loan customer with the repayment record over 1 year (including 1year), following normal repayment schedules.
3) The applicant and his/her spouse should meet the credit record condition of SRCB’s Personal loan management approach.
4) The applicant should have steady job, source of income and fixed residence, with sound credit record, and have the capability of repaying principal and interest.
5) The applicant has SRCB’s debit card or personal settlement account with SRCB.
6) Other conditions prescribed by SRCB.
4. Application materials
1) Valid identity proof of applicant and his/her spouse, evidence of marital status and proof of residence.
2) Valid proof of income or salary details or tax bill.
3) Certificate on the real estate ownership, evaluation of mortgaged property or book-building report (if need be).The applicant who has not got the certificate on the real estate ownership should provide with Contract of House Sales and its Contract of Personal Housing Mortgage Loan.
4) Proof of Intended use of the loan
5) Other application materials prescribed by SRCB.
5. Credit limit, loan term and interest rates
1) Credit limit is mainly set according to the Intended use of the loan, the value of house and the repayment ability.
Use for consumption: Maximum limit is RMB 1, 000,000. Credit loan can be granted if the limit is within RMB 500,000(including RMB 500,000).
Use for business：Maximum limit is RMB 5, 000,000. Credit loan can be granted if the limit is within RMB 1, 000,000 (including RMB 1, 000,000).
The sum of Xin Lian Loan amount and the Personal Housing Mortgage Loan amount cannot be over 70% of the house price. The house prise is on Contract of House Sales.
2) The loan term is determined taking consideration of the loan amount, the repayment ability and the income of the applicant. It is generally within 3 years. The term of Xin Lian loan cannot be over the remaining term of the Personal Housing Mortgage Loan.
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)
