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ICBC e-Loan
 

☆ Description
ICBC e-Loan is an RMB loan product which is neither guaranteed nor secured, and disbursed by the Bank to borrowers meeting specific conditions for legitimate and compliant purposes.

☆ Features
Low financing cost: The interests of ICBC e-Loan are accrued on differentiated interest rates in accordance with the natural days of actual loan. For details, please follow the instructions when actually applying for it.
Recycling credit: Loans can be applied for and repaid at any time. Repayment can be made in advance, and two repayment methods including average principal method and average principal plus interest method are supported. Some customers can have monthly interest payment and one-time repayment of principal.
Flexible term: The term of the product is two months at the shortest and normally two years at the longest. Some customers can enjoy longer term, and can be flexible to choose the number of installments in the longest term.
Better experience: No security or guarantee is required. The pure-credit product can be applied for through ICBC Mobile Banking, Internet Banking, "ICBC e-Life" app, "ICBC Link" app, or at ICBC outlets. Loans can be disbursed on a real-time basis.

☆ Qualification
1. The borrower shall be a Chinese citizen with full capacity for civil conduct at an age between 18 and 60;
2. The employer or habitual residence of the applicant shall be at the place where the loan disbursing institution is located;
3. The borrower shall have a regular job, stable sources of income or reliable repayment guarantee;
4. Other conditions required by ICBC.

☆ FAQs
1. What is ICBC e-Loan?
ICBC e-Loan is an RMB loan product which is neither guaranteed nor secured, and disbursed by the Bank to borrowers meeting specific conditions for legitimate and compliant consumption purposes.
2. How long is the term of ICBC e-Loan?
The term of the product is two months at the shortest and normally two years at the longest. Some customers can enjoy longer term, and can be flexible to choose the number of installments in the longest term.
3. What is the interest rate for ICBC e-Loan?
You can query the specific loan rate via Internet Banking, Mobile Banking or our outlets when applying for the product.
4. What is the credit line of ICBC e-Loan?
The line of credit ranges from RMB600 to RMB800,000. Please refer to the actual amount on display when applying for the product.
5. What are the repayment methods of ICBC e-Loan?
Two repayment methods including average principal method and average principal plus interest method are supported. Some customers can have monthly interest payment and one-time repayment of principal.
6. Is early repayment allowed? Is there any penalty for early repayment?
Repayment can be made in advance, and there isn't any penalty now.
7. What is the purpose of ICBC e-Loan?
ICBC e-Loan can be used for car purchase, home decoration, travel, shopping, etc. But it shall not enter the securities or futures market, or be used for equity investment, or in the real estate market. Moreover, it shall not be used for private lending, or other activities explicitly prohibited by the laws and regulations of the PRC.
8. How to apply for ICBC e-Loan?
You can apply for ICBC e-Loan via online channels (Internet Banking, Mobile Banking, and ICBC e-Life app), or offline (the Bank's outlets).

The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.

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