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Payment Method and Service
 

☆ Introduction
ICBC offers different options for you to repay loan based on your business plan, financial need and repayment capability. ICBC services provide easy access to loan while lowering your borrowing cost so that you could easily arrange your family plan and save money.

☆ Special repayment options and services
Besides two traditional repayment options of straight line repayment and reducing balance method ICBC offers customized repayment options and services to meet your specific need.
Unique repayment options:
(I) Balloon repayment (weekly);
7 days or integral multiples of 7 days are taken as one repayment cycle under straight line repayment or reducing balance method. The shortest cycle is 7 days and not longer than 21 days (inclusive).
(II) Step-up Repayment
You choose the installment amount in the first period (one period is one year), and increase installment amount for each period (increase in equal amount or percentage). At the end of installment periods, repay the loan by straight line repayment, based on the loan balance and remaining periods.
(III) Step-down Repayment
You choose the installment amount in the first period (one period is one year), and decrease the installment amount for each period (decrease in equal amount or percentage). At the end of installment periods, repay the loan by straight line repayment, based on the loan balance and remaining periods.
(IV) "Repay Anytime"
During the repayment period stated in the contract, the repayment amount in straight line repayment will be used as the minimum repayment for each installment. Based on this, you can repay more any time in order to repay the loan in advance.
(V) "Move in and Repay"
When you buy property-right house or buy house under construction with mortgage agreement signed with ICBC and interim guarantee provided by real estate developer, you can repay principal of loan later, only repay the loan interest before moving into the house.
Unique repayment services:
You can judge your income accordingly to choose fixed repayment date for each installment so that you can arrange your expense and income reasonably.

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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