Definition:
A loan released to borrower to buy first-hand car (private car, commercial vehicle, no second-hand car) where the private car is only for personal use, not for business. Commercial vehicles are for business.
Features:
1. Different guarantee options: full-amount pledge or use the new car bought as collateral, pledge or guarantee or combinations.
2. Easy to settle: Hua Xia Bank handles the mass payment.
3. Low cost: Hua Xia Bank joins with car dealers to attract buyers.
4. Add color to life: Free the financial burden of the borrower in short term.
Applicable Clients:
Chinese residents with full civil capacity, hold valid ID, have permanent address, stable income or personal asset that can be used to fully pay the principal and interest of the loan with guarantee, as well as Hong Kong, Macau and Taiwan compatriots, and foreigners.
Currency and Term:
Loan is released in RMB. Maximum term is 5 years.
Product Price:
Loan rate follows the PBC's rate and floating margin of the same term same class.
Service Channels:
Hua Xia outlets offer loan services in consultancy, application, release and repayment. Phone Banking offers consultancy services. Internet Banking offers consultancy and SMS Alert when loan is due.
Application Documents:
Loan Application Form, valid ID of the borrower and spouse, income proof, Car Contract or Agreement signed with the dealers, guarantee documents, other documentations stipulated by Hua Xia Bank.
Service Flows:
1. Applicant submits an application for loan together with documents required.
2. Once approved, the lending branch, borrower and guarantor sign loan contract and guarantee contract. Loan will be released according to the terms and conditions of the contract. Auto loan advice will be issued to car dealers.
3. Borrower repays the principal and interest of the loan as scheduled.
4. Cancel the collateral once the loan is settled in full.
Important Information:
1. Borrowers can only buy cars from the dealers that have signed Auto Loan Co-operation Agreement with Hua Xia Bank.
2. Loan can be either under full-amount pledge or use the new car bought as collateral, pledge or guarantee or combinations. Pledge is limited to borrower or third party's Hua Xia savings passbook (time deposit in the passbook/card), certificate treasury, non-bearer bond and certificate of deposit, certificate treasury, non-bearer bond issued by other local financial institutions recognized by Hua Xia Bank.
3. Use of the car bought as mortgage must have insurance covered the car damages and third-party responsibility. Borrower must inform Hua Xia Bank at once for any damages outside the coverage during the insurance period. Otherwise, Hua Xia reserves the rights to recall the loan. If borrower is in breach of the contract, Hua Xia reserves the rights to recall the loan, dispose the collateral/pledge or prosecute guarantor on the breach.
4. Borrower is responsible for the registration, appraisal and insurance of the collateral.
Definition:
A secured RMB loan released to individual for family travel, home renovation or other purposes. Loan starts at RMB 5000.
Features:
1. Flexible: Within the agreed term and credit line, borrow and repay at anytime, loan released whenever needed, no need to approve each by each.
2. Diversified guarantee: Under pledge or collateral.
3. Longer term: Maximum 10 years.
4. Wide purposes: For travel, home renovation, body fitness, buying consumables.
Applicable Clients:
Chinese residents with full civil capacity, have permanent address, permanent residence in the local city/town or other proof of residence and the ability to produce guarantee.
Currency and Term:
Loan is released in RMB. Maximum term is 10 years.
Product Price:
Loan rate follows the PBC's rate and floating margin of the same term same class.
Service Channels:
Hua Xia outlets offer loan services in consultancy, application, release and repayment. Customer Service Center offers services in consultancy, checking the account and SMS Alert when loan is due. Internet Banking offers services in consultancy and checking account.
Application Documents:
Document to verify the identity of borrower; proof of showing current address (permanent residence booklet or utility (water, electricity, gas) bills issued recently); proof of job, income and family members (Staff ID and payroll slip, passbook for receiving payroll or other valid documents); use of pledge as guarantee must surrender the ownership proof of the pledge; use of third party's chattels or rights as pledge must surrender the valid ID of the owner, Pledge Authorization Letter. Use of real estate as collateral must surrender Property Rights Certificate; use of property under the name of direct relatives must also surrender ID of the owner, Mortgage Authorization Letter and proof of using the loan.
Service Flows:
1. Applicant submits an application for loan together with documents required.
2. Once approved, the borrower, guarantor and Hua Xia Bank sign loan contract and guarantee contract.
3. Loan will be released to the borrower's savings passbook or Hua Xia card once every detail is confirmed.
4. Borrower repays the principal and interest of loan as scheduled.
5. Cancel the collateral/pledge once the loan is settled in full.
Important Information:
1.To apply by guarantee, borrower must produce the guarantee recognized by Hua Xia Bank, either collateral, pledge, guarantee or combinations.
2. If borrower is in breach of contract, Hua Xia Bank reserves the right to recall or stop the loan, prosecute borrower on the breach, dispose the collateral/pledge to repay the principal and interest of the loan, penalty interest and liquidated damages.
3. Borrower is responsible for the appraisal, insurance, notary and registration of the collateral/pledge.
Definition:
A RMB loan released to subsidize the tuition, accommodation and living expenses of the borrowers during their study. Borrowers are full-time students of university in China (and overseas), undergraduates, postgraduate or second-degree students.
Features:
1. Long loan term: Maximum 10 years.
2. Diversified guarantee: Either under pledge, collateral or guarantee or combinations.
3. Flexible repayment: Start to repay from the next quarter (month) after the loan released, or choose to repay after graduation.
4. More borrowers: Students over 18 years of age can apply themselves, or by their direct relatives and legal guardians.
Applicable Clients:
Borrowers hold permanent residence in local the city/town or valid ID, have permanent address and the ability to produce full guarantee. Students aged over 18 can apply themselves or by their direct relatives and legal guardians. Students under 18 must have their direct relatives or legal guardians to apply on their behalf. Applicant should have good credibility and be able to repay the principal and interest of the loan. Direct relatives or legal guardians apply on student's behalf must have stable job and income.
Currency and Term:
Loan is released in RMB. Maximum term is 10 years.
Product Price:
Loan rate follows the PBC's rate and floating margin of the same term same class.
Service Channels:
Hua Xia outlets offer loan services in consultancy, application, release and repayment. Customer Service Center offers services in consultancy, checking account and SMS Alert when loan is due. Internet Banking offers services in consultancy and checking the account; partnering schools offer consultancy services.
Application Documents:
Original of the ID of the borrower and spouse or other documents to verify the identity; valid ID document of the student, original and photocopy of the student's passport or pass if the applicant student studies overseas; borrower applies on behalf should surrender the documentation issued by State Notary on the relationship between borrower and the applicant student, and the documentation showing the date of birth of the student; proof of stable job and income of the borrower; Enrollment Advice from the school, and the documents issued by the school on the total expenses during the study period or the recommendation letter; Use of the property as collateral/pledge to apply for loan must surrender evidence showing the title of the collateral/pledge and the written consent from the owner of disposal rights to the mortgage/pledge; appraisal report on the collateral issued by the company recognized by Hua Xia Bank; loan guaranteed by the third party should surrender the written consent from the guarantor; other documentations stipulated by Hua Xia Bank.
Service Flows:
1. Applicant submits an application for loan together with documents required.
2. Once approved, the borrower, guarantor and Hua Xia Bank sign loan contract and guarantee contract and complete the formalities for mortgage/pledge.
3. Loan can be released directly to the student's school account or to borrower's savings passbook or Hua Xia card, in different stages (once per year only) or one-time.
4. Borrower repays the loan as scheduled.
5. Cancel the collateral/pledge once the loan is settled in full.
Important Information:
1. Loan can be either under collateral, pledge or guarantee or combinations. Pledge is limited to the borrower or third party's Hua Xia savings passbook (time deposit in the passbook/card), personal finance products, certificate treasury, non-bearer bond and certificate of deposit, certificate treasury, non-bearer bond issued by other local financial institutions recognized by Hua Xia Bank. Collateral can only be the housing property of the borrower or the third party (or jointly owned) and not yet mortgaged.
2. Inform Hua Xia Bank of the current status of the students after graduation or employment.
3. If the borrower or the applicant student is in breach of contract, Hua Xia Bank reserves the right to recall the loan, dispose the collateral/pledge or claim repayment from the guarantor.
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