1. Target customer
The applicant must have steady job and source of income, with sound credit record, and have the good capability of repaying principal and interest.
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) , with legal valid identity certificates. When the loan is at maturity, the age of applicant should not be over 60 years old. If the applicant is the resident with residence registration of the municipality, he/she should have fixed residence in Shanghai. To the applicant without residence registration of the municipality, he/she should have valid proof of residence of the municipality and has fixed assets in this city.
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 steady job and source of income, with sound credit record, have fixed residence and the capability of repaying principal and interest. The applicant should have worked for/over 6 months continuously in current working place.
4) The applicant has SRCB’s debit card or personal settlement account with SRCB.
5) Other conditions prescribed by SRCB.
4. Application materials
1) Effective identity proof of applicant, evidence of marital status and proof of residence.
2) Valid proof of income or salary details or tax bill, job certificate
3) Proof of Intended use of the loan
4) SRCB’s personal settlement account
5) 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. In addition, when the loan is due, the age of applicant should not be over 60 years old.
3) Loan interest rates are prescribed by SRCB according to the customer risk or profit contribution.
4) The estimation method of credit limit
The term is within 1 year (inclusive), loan limit is not exceeding 60% of the applicant’s annual income.
The term is over 1year but within 2 years (inclusive), loan limit is not exceeding 80% of the applicant’s annual income.
The term is over 2 year but within 3 years (inclusive), loan limit is not exceeding100% of the applicant’s annual income.
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)
