Auto Loan


This is the RMB loan issued by our bank to a borrower for purchase of automobile (excluding second-hand automobile);

The applicant should

1.      be a citizen of the People’s Republic of China or a resident of Hong Kong, Macao and Taiwan or a foreigner who has lived consecutively for more than one year (included) in the People’s Republic of China;

2.      Be aged above 18 and below 60, with full capacity for civil acts (the sum of borrower’s age and the loan term shall not exceed 65 years);

3.      Have valid identity certificate and the certificate of fixed local residence, the former meaning ID card, passport and Home Return Permit and the latter being limited to household register;

4.      Have good credit record, a stable career, assets like house and the ability to repay the principal and interest of the loan on time;

5.      Have the voucher for payment of the first installment or deposits in our bank that are no less than the amount of the first installment of payment for automobile;

6.      Be able to provide the guaranty accepted by our bank;

7.      Have the qualifications for transportation operations, if the application is for a loan for commercial vehicle;

8.      Meet other requirements we specify.

Materials Submission

1.      For purchasing private car

(1)     Application Form of Loan

(2)     Legal and valid ID certificate and residence certificate of borrower

(3)     Income certificate or other certificate that may prove the borrower has the capability to repaythe principal and interest on schedule.

(4)     Auto purchase agreement or contract

(5)     Payment certificate of initial payment or deposit certificate in our bank that is not less than the amount of initial payment for auto purchase

(6)     By means of mortgage or pledge, checklist of mortgage or pledge, ownership certificate, appraisal certificate, and certificate that may prove that the owner agrees to mortgage or pledge shall be provided; by means of warranty, document or credit certificate that prove the warrantor agrees to make warranty shall be provided.

(7)     Other materials required by our bank.

2.      In addition to the information necessary for a loan for purchase of a private car, the following must be provided:

(1)     Certificate proving borrower’s qualifications for passenger or cargo transportation, or proving the transportation qualifications of the company to which the borrower is affiliated; Certificate proving the operation route of the borrower;

(2)     According to the regulations of the related authority, the registered owner of a commercial vehicle may not be a natural person. Therefore, the borrower must submit the contract for his/her affiliation with a business operation unit and the certificate issued by the unit to prove the actual owner of the vehicle.

Loan Amount

The maximum amount of loan for private car issued to natural person shall be 70% of the price of auto purchased by the borrower, and the maximum amount of loan for commercial car shall be 60% of the price of auto purchased by the borrower.

Loan Term

The longest term can reach 5 years

Interest Rate of Loan

The interest rate shall be subject to the floating proportion of existing interest rate of our bank based on the existing benchmark interest rate for loan issued by People’s Bank of China.

Repayment Method

1.      Repayment Tool:

You may repay the loan by Licaitong Card, current passbook, or cash.

2.      Repayment Method:

(1)     Repay once a week

(2)     Repay twice a week

(3)     Repay once per month

(4)     Repay once per quarter

(5)     Repay once per half a year

(6)     Repay the principal and interest by instalments

(7)     Repay the interest by instalments and repay the principal when expires

(8)     Repay principal and interest as a lump sum when expires