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This refers that the holder of “CMBC Debit Card” get short term RMB loan by putting fixed savings (No matter it’s RMB or foreign currency) of the card in pledge in its own operation through on line Business Platform.
A. Who is it for?
1. Natural person with full capacity for civil conduct;
2. The person with legal and valid identity document;
3. The person who has opened an account of “CMBC Debit Card” in our Bank;
4. Fixed savings deposit (No matter it’s RMB or foreign currency) in the card;
5. Other requirements as required.
B. Amount, Term and Interest Rate
1. Amount of the loan
(1) The minimum amount of the loan is RMB 2000 Yuan and the maximum amount of the loan is RMB 100,000 Yuan.
2. Collateral security
(1) Collateral security of the loan shall be only fixed savings in a card;
(2) The currency of savings as collateral security: RMB, US Dollar, Hongkong Dollar, JPY, SF, English Pound and Euro.
3. Pledge rate
Pledge rate= principal of the loan/ principal of fixed savings in pledge
Prevailing pledge rate for each aforesaid currency is as follows:
| Currency |
The Highest Pledge Rate |
| RMB |
90% |
| US Dollar |
90% |
| Hong Kong Dollar |
90% |
| JPY |
85% |
| Other Currencies |
85% |
4. Term of the loan
The shortest term of the loan is one day and the longest term is a year. Expiration date of the loan may be later than the expiration date of the collateral.
5. Interest rate
The interest rate will be as per relevant regulations set by People’s Bank of China at the time of getting the loan.
6. Repayment method
Repayment method for the loan is that the interest shall be paid at the time of repaying the principal.
C. What needs to be done?
(1) Fill an application for the loan in a service department;
(2) Bank verifies the application and approve it;
(3) The card can perform the function of help-self loan;
(4) Signs “Contract of Online Self-service Pledge Loan”;
(5) The borrower gets loan from the Internet Bank;
(6) The borrower repays the principle and interests per loan of agreement
D. Documents to be provided by applicant:
(1) Borrower’s valid identifications like ID card, Residence Registration(Hukou), Officer’s ID or Passport;
(2) Borrower’s “CMBC Debit Card”;
(3) “Application Form of CMBC for the business open (alteration/ cancellation) of Online Self-service Pledge Loan” filled in duplicate;
(4) “Contract of Online Self-service Pledge Loan” signed in duplicate.
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