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Personal Banking

Mortgage Loan for New House

Mortgage loan for new house is an RMB personal loan business issued to the borrowers for the purpose of purchasing newly built house in the primary market from real estate developers with the house mortgaged to the bank. Mortgaged houses include residential houses (villas), shops, office buildings, parking spaces, plants and so on. Mortgage loan for first-hand house of GRCB enjoys the advantages of low cost, long duration, simply procedure, convenient repayment and efficient services.

Target Customer:

1.    Natural persons aged between 18 and 65 with full civil capacity, good credit standing and the ability and intention to repay the loan;

2.    House buyers who have bought house that has been approved by GRCB and signed related agreements with GRCB.

Main features:

     High loan Limit: the maximum loan limit can be 70%. Favorable interest rates: as low as the base interest rate. Long period: up to 30 years.

     Flexible loans: “fast loan” is available.

     Convenient repayment with banking outlets all over Guangzhou, .

     Low cost and no additional mortgage cost.

Item

Regulation

Loan Period

1.    The loan period varies according to the types of house and the maximum loan period shall not exceed 30 years.

2.    The age of the borrower plus the loan period shall not exceed 70 years (if so, the borrower has to provide a guarantor for warranty who has ability to repay the loan).

3.    The mortgage loan period related requirements of GRCB shall also be met.

Loan

 Percentage

1.    The loan percentage varies according to the types of house and the maximum percentage shall not exceed 70% of the house value or purchase price (based on the lower of the two).

2.    The loan percentage related requirements of GRCB shall also be met.

Loan

 Interest Rate

1.    The loan interest rate varies according to the types of house and can be as low as the base interest rate.

2.    The mortgage loan interest related requirements of GRCB shall also be met.

Qualification

1.    The borrower is a Chinese citizen with full civil capacity or foreign natural persons in accordance with China law.

2.    Any borrowers from Hong Kong, Macau and Taiwan shall provide a person with registered residence in Pearl River Delta as the contact. Any foreign borrower shall provide a person with registered residence in Pearl River Delta as the guarantor.

3.    Any borrower of non-local resident shall provide the certificate of local tax payment or social insurance premium payment for over a year.

 

Documents required for loan application:

1.    Borrower’s identification documents, including resident identification card, passport or other legitimate identification documents.

2.    Borrower’s household register.

3.    Proof of the borrower’s marital status.

4.    Proof of borrower’s repayment ability, including wage income, business income, rental income or other asset certificates.

5.    Legal and valid sales contract of commercial house or purchase agreement.

6.    Receipt or invoice of down payment.

7.    Contribution passbook opened in GRCB.

8.    Identification documents or business license of an additional guarantor if necessary.

9.    Other documents required by GRCB.

Procedures

1.    The borrower makes an application, fills out the loan application form and provides relevant documents.

2.    GRCB conducts a loan investigation.

3.    GRCB examines and approves the loan.

4.    The borrower and GRCB sign a contract and confirm the loan conditions.

5.    GRCB issues the loan.

6.    The borrower repays the loan on schedule.

Call Centre 961111 Micro Loans Services

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