Loan for Personal Consumption

Introduction to service:

Loan for personal consumption refers to the loan for personal consumption granted by CGB with the house which the borrower himself or a third person is legally entitled to dispose of or other pledges CGB accepts or by other mortgage (impawning) means.

The uses of the loans are diverse, including but not limited to house fitting up and decoration, purchase of furniture and household appliances, studies abroad, academic education, tourism, wedding and other kinds of legal individual consumption.

Service Features

1.      Simplified and shortened application process and preferential loan rate in the market

2.      Flexible selection from multiple repayment methods;

3.      One-stop quality services provided by senior CGB credit personnel.

Application Conditions

1.      Holding legal and valid identity certificate or residence certificate;

2.      Working, investing or residing in mainland China;

3.      Having legal and stable sources of income and the ability to repay the principal and interest of the loan on time;

4.      Having a good personal credit standing and no bad credit record;

5.      Having a settlement account with our bank and being willing to accept our credit supervision;

6.      Being able to provide the guaranty CGB accepts or having the credit eligibility evaluated or accepted by CGB;

7.      Other conditions specified by CGB.

Information to be submitted

1.      Identity certificate of borrower;

2.      Evidentiary document proving the income or other evidentiary documents proving the debt-paying ability of the borrower;

3.      Marital status certificate (marriage certificate or singlehood certificate);

4.      Certificate of loan use;

5.      Voucher or certificate of payment;

6.      Other documents and information CGB requires.

Loan term

The longest term is 10 years.

Loan Interest Rate

The loan rate will be in line with current CGB floating rate based on the current benchmark loan rate announced by the People's Bank.

Repayment Arrangement

1.      Repayment means:

Repayment by Licaitong, deduction from current passbook, or cash.

2.      Repayment methods:

(1)     Weekly repayment

(2)     Biweekly repayment

(3)     Monthly repayment

(4)     Quarterly repayment

(5)     Biannual repayment

(6)     Principal and interest repayment by installments

(7)     Interest repayment by installments and principal repayment at maturity

(8)     Principal and interest repayment at maturity