An ICBC loan to borrower to buy vehicle for business purpose.
1. High credit line, many guarantee options, flexible in repayment;
2. Types of commercial vehicles available including metro taxi, urban transport bus, passenger vehicle, cargo truck and engineering machinery (dozer, digger, mixer, and pump).
☆ Application Conditions
1. Natural persons with full civil capacity of age between 18 (inclusive) and 60 (inclusive) years old. Borrowers of foreign nationality or from Hong Kong, Macau and Taiwan must live in mainland China for over a year, have permanent address and stable job, and a local contact person must be given;
2. Hold legal ID document, certificate of marital status, proof of permanent residency (or proof of residence) in the city where the loan is applied;
3. Good credit history, willing to repay;
4. Stable source of income and ability to repay all principal and interest of loan when due;
5. Vehicle has been bought with down payment made already;
6. Under 3 loans (except the settled) from ICBC for buying commercial vehicles by single account of the borrower (and spouse);
7. Contract of buying the vehicle, vehicle insurance contract, borrower has the license to run the vehicle for transportation;
8. Besides the metro tax, borrower buying passenger vehicles or cargo trucks must be under a transportation company, and a letter of commitment must be supplied, signed by the shareholders or board of directors of the transportation company affixed with the company stamp;
9. Produce a guarantee recognized by ICBC;
10. A personal settlement account opened in ICBC;
11. Other conditions stipulated by ICBC.
☆ Loan Amount
Up to 70% of the vehicle's price.
☆ Loan Term
Maximum is 5 years, loan term of cargo vehicle is 2 years.
☆ Service Channel and Hours
To apply, submit the application to ICBC personal loan center or personal credit loan business department of the local ICBC branches.