 You may go directly to a nearby SPDB branch and apply for a personal loan for commercial housing once you conform to the following basics |
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- You are a Chinese citizen or a resident in China.
- You have a fixed job and stable income.
- You are definitely intended to buy a house(s) or have signed the formal house-purchasing contract and paid at least 40% of the total price as the down payment.
- You own the proprietary of the property to be bought.
- You are able to provide the type of guarantee required by the bank (including mortgage, pledge and/or warrantee).
You shall provide the following documents to the bank |
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- A valid ID card and a certificate of permanent residence.
- Certificate of marital status.
- Certificate of personal income.
- Documents confirming the consumption action, such as the house-purchasing contract etc.
- Loan application form (available at any SPDB branch).
- Other documents required by the bank.
Loan Amount |
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The maximum loan amount that you may get from such loan service will be equivalent to 60% of the total price of the property.
Loan Tenor |
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Maximum 10 years.
Repayment |
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A borrower shall repay the principal and interests accrued at the due date if the loan has a tenor within 1 year. For loans with a tenor over 1 year, a borrower may choose one of the repayment patterns as follows:
| | Principal and interest to be repaid every month | | Same principal and same interest repayment | total loan amount× monthly interest rate + total loan amount× monthly interest rate÷[（ 1＋monthly interest rate）total months number-1] | | Same principal repayment | Loan principal÷total months number+（loan principal- aggregate repaid amount）×monthly interest rate |
Loan Guarantee |
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You should provide one of the following three types of guarantees, e.g. mortgage, pledge and warrantee: - Mortgage(namely, to secure the loan with the borrower's proprietary property).
- Pledge (namely, to secure the loan with a Certificate of Term Deposits issued by SPDB or Treasury Bond sold by SPDB).
- Warrantee(namely, to provide a qualified third-party guarantee pursuant to the requirements of SPDB).
Interest Rate |
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Interest Rate Annualized | | Personal loan for Commercial Housing | | Tenor below 6 months (incl. 6 months) | 5.04% | | Tenor between 6 month to 1 year (incl. 1 year) | 5.31% | | Tenor between 1 year to 3 years (incl. 3 years) | 5.49% | | Tenor between 3 years to 5 years (incl.5 years) | 5.58% | | Tenor above 5 years | 5.76% |
For loans with a tenor below 1 year (incl.1 year), the interests shall be calculated at the fixed interest rate specified in the Loan Contract. Should any regulatory readjustment be made in the interest rates during the loan period, the interest rate for the loan in question shall not be adjusted. For loans with a tenor over 1 year, starting from the first due date in the next year, the interest rate shall be reset once a year, with the first due date each year being the specific day for such rate resetting. Starting from the first due date each year, the regulatory loan rates promulgated by the People's Bank of China on January 1st of the year shall apply. Should any disparity of interest rates occur during the period, the interests shall be calculated separately according to the different rates.
Procedure |
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