 You may go directly to a nearby SPDB branch and apply for a personal consumption loan once you conform to the following basics: |
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- Local permanent residence or other valid certificate of local residence.
- You have a fixed job and stable incomes.
- You are definitely intended to make the consumption or have signed the relevant purchase contract.
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 income.
- Documents confirming the consumption action, such as the purchase 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 the bank shall not exceed the price of the commodity or service you have bought and a relevant guarantee is required.
Loan Tenor |
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Maximum 5 years and for loans to finance fit-up of residence, the maximum tenor will be 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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