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Personal Banking

Personal Consumption Loan

Personal Consumption Loan is issued to urban and rural residents for living consumption.

Target Customer

Urban and rural residents of Guangzhou

Main features

    High efficiency: loan authorization takes 3-8 working days.

    Flexible loan limit – loan limit will be determined based on a borrower’ qualification, guarantee review and money demand to meet the financial need of the borrower. The maximum loan amount can reach 70% of the value of collateral or pledge.

    Long period - up to 5 years.

    Quick authorization -- loan authorization takes 1-3 working days.

    Low fees – no additional fee is charged during the process of loan.

    Diverse ways of security - mortgage, pledge and other security methods are available

    Loan amount -- the maximum loan amount can reach 70% of the value of collateral security.

    Loan period – loan period of mortgaged (pledged) loans shall not exceed 8 years and loan period in other security methods shall not exceed 3 years.

Documents required for loan application:

1.    The borrower and his/her spouse’s resident identification cards or other legitimate resident status.

2.    The borrower’s household register and marriage certificate.

3.    Proof of the borrower’s income certificates, including a passbook with wage income, bank statement and tax returns.

4.    For loans with a third party (person) as the guarantor, a copy of the business license and the financial statements of last year and this quarter are required if the guarantor is a corporate legal person or an economic organization. If the guarantor is a natural person, valid identifications, proof of household register and income, and other documents of the guarantor are required to be submitted. And the documents proving the guarantor agreed to provide security are also needed.

5.    Following documents shall be provided for mortgaged (pledged) loans application:

1     Property co-owners valid IDs and their copies.

2     An inventory of the mortgaged (pledged) items and proof of their property ownership.

3     Proof of the agreement of people having the disposal right\(including the property co-owners).

4     For loans with capital stock dividends as pledge, the pledged capital stock dividends related documents of the capital stock owner (the pledger) and the documents agreed by the village committee, the association of economic co-operatives or economic cooperative on pledge security are required.

6.    Other documents required by GRCB.

Procedures

1.    The borrower applies for the loan.

2.    GRCB conducts a loan investigation.

3.    GRCB examines and approves the loan.

4.    The borrower and GRCB sign the loan contract and confirm the authorization opinions.

5.    GRCB issues the loan.

6.    GRCB examines and approves the credit limit.

7.    The borrower and GRCB sign a contract and go through the mortgage registration.

8.    The borrower applies for one loan and provides documents regarding the use of the loan.

9.    GRCB examines and approves the loan.

10.   The borrower and GRCB sign a receipt for loan and confirm the authorization opinion.

11.   GRCB issues the loan.

12.   The borrower repays loan on schedule.

Call Centre 961111 Micro Loans Services

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