Name
Personal Mortgage (Pledge) Revolving Loan
Introduction
Personal Mortgage (Pledge) Revolving Loan is a convenience-oriented financial product provided to individual customers according to customers' credit status and the mortgage or pledge provided by customers and accepted by Bank of China. During a certain valid term, borrowers can cyclically use the loans within the sum set by Bank of China.
I. Loan Qualifications
The borrower should provide mortgage (pledge) item accepted by the bank as guarantee. And the borrower should open deposit accounts in Bank of China.
II. Loan Term
Generally, the single loan term of Personal Mortgage (Pledge) Revolving Loan should be three to five years, for VIP customers, it should be five to ten years.
III. Interest Rate
In accordance with loan terms, the interest rate is set based on the corresponding rate published by the People's Bank of China.
IV. Loan Quota
According to zone division, the maximum limit of single customer's Personal Mortgage (Pledge) Revolving Loan ranges from RMB 4 million to RMB 20 million.
V. Repayment Method
Matching the principal and interest repayment; matching the principal repayment, etc.
VI. Loan Application
Documents required for the application for Personal Mortgage (Pledge) Revolving Loans are as follows:
1. Application Form of Personal Mortgage (Pledge) Revolving Loan Quota;
2. Valid identity documents;
3. Proofs of employment and income;
4. Certificates of education and technical background and other certificates
5. Ownership certification and value assessment documents of the mortgage and pledged items;
6. Other documents proving personal credit status;
7. Other documents required by the bank.
Target Customers
1. Natural persons with full civil capacity;
2. Citizens of the People's Republic of China;
3. Having permanent residence and stable income as well as the capacity to refund the principal and interest of loans on schedule but no bad credit record in Bank of China and other financial institutions
Process
Please contact relevant branches of Bank of China.
Kind Reminder
Since there are a lot of documents required for loan application; for any other questions, please consult local branches of Bank of China with the brand mark "Ideal Home", or just call 95566.
