☆ Introduction
Personal brand new housing loan is issued by the loaner to the borrower to finance the purchase of a house legally built and sold (pre-sold) by real estate developer.

☆ Target Client
The borrower of personal brand new housing loan shall be the natural person of full civil capacity within 18-65 years old (including 18 and 65 years old) with good credit history and willingness for payment.

☆ Features
1. Long term-30 years at most. 
2. High loan limit -80% of the market value of the house purchased at most. 
3. Low financing cost--free of service fee. The lowest interest rate is 70% of benchmark interest rate of People’s Bank of China.  
4. Flexible payment choice--various repayment methods like equivalent repayment of principal and interest, equivalent repayment of principal, repayment of principal and interest by week, increasing repayment by degrees, decreasing repayment by degrees, random payment and pro-residence, post-payment as well as some special repayment services like self-determined repayment date and grace period. Borrower can choose according to demand. 
5. Timely loan issuance--after you offered effective phased guarantee, we can issue the loan before formal housing mortgage registration.

☆Application Conditions
Following requirements must be satisfied when applying for ICBC personal brand new housing loan:
1. Legal valid identity certificates (ID card, resident population register card or other valid identify certificates) and marriage status certificate;
2. Good credit history and willingness for repayment;
3. Stable income resource and ability to timely full repayment of principal and interest;
4. Contract or Intention of Commodity House Sales (Pre-sales) for the house purchased;
5. Ability to pay for the down payment of the house purchased;
6. An ICBC personal settlement account;
7. An effective guarantee accepted by loaner;
8. Other criteria set by ICBC.

Following documents must be prepared and offered in advance when you apply for a personal brand new housing loan:
1. Legal identity certificates of borrower;
2. Income and occupation certificates of borrower; 
3. Resident population register card of borrower; 
4. Conjugal relationship certificate of borrower (if applicable);
5. The written promise signed by all parties of common borrowers to define common repayment responsibility (if applicable);
6. “Deal Contract of Commodity House” or “Contract for Commodity Housing Sale (Pre-Sale)” signed by borrower and real estate developer.  
7. Bank deposit slip of the down payment or copy of receipt or invoice issued by real estate developer.
8. Other documents or materials required by loaner. 

☆Loan limit
80% of the market value of the house purchased at most. 

☆Loan Interest Rate
The lowest interest rate is 70% of benchmark interest rate of People's Bank of China. 

Interest shall be debited on each account based on actual-over-365. Repayment options are: equal repayment of principal and interest; equal repayment of principal; principal repayment and interest payment by cycles, increment repayment, decrement repayment. Date of repayment each period is the corresponding date in each period starting from the month next to actual loan drawdown date, or the last day of the period if no date matched under. Last repayment date is the maturity date of the loan.

In equal repayment of principal and interest, loan is averagely repaid by equal amount of principal and interest every month during the term. In equal repayment of principal, every month the principal is repaid by equal amount with decreasing interest payable.

☆Loan term
The loan term is 30 years at most, and the sum of the ages of the borrowers and the loan term shall not exceed 70 years. In case there are 2 or more borrowers, the loan term can be determined in terms of the younger borrower meeting the relevant loan requirement. 

☆Service Channel and Time
You can submit the loan application to ICBC consumer manager at showroom of the real estate cooperating with ICBC in mortgage loan, or ICBC personal loan center or credit loan business department of local ICBC branch. 

☆Operation Guide
Business Flow

1. Submit application. You submit a written application for loan and relevant documents to ICBC;
2. Approve loan. ICBC checks and approves the loan according to your application documents; 
3. Sign contract. After received the notice about ICBC’s approval of the loan, you need to sign a loan contract and corresponding guarantee contract at the bank issuing the loan and go through some necessary procedures like notarization and mortgage (pledge) according to the requirements;
4. Issue loan. As to the loan allowed to be issued by ICBC, after the completion of relevant procedure, ICBC will transfer all loan funds to an account established by the real estate developer in the bank or an account co-appointed by buyer and seller in one time according to the provision of loan contract;
5. Repay on schedule. After the issuance of loan, you must repay the principal and interest of the loan according to repayment schedule and method provided in the loan contract;
6. Settle loan. Include settle on schedule and settle in advance.
(1) Settle on schedule: settle the loan in the last phase of the term.
(2) Settle in advance: If you want to settle a part or all loan in advance before the repayment due day, you shall submit the application to ICBC in advance and repay the loan at the appointed counter after the approval of ICBC.
After the settlement of the loan, you shall take back the legal certificates and other relevant certificates mortgaged in ICBC with your valid identity certificate and loan settlement certificate issued by transacting bank, and go through mortgage registration cancellation procedure at initial mortgage registration department with the loan settlement certificate. 

☆Product Linkage
Besides traditional two methods including equivalent repayment of principal and interest and equivalent repayment of principal, ICBC will customize personalized repayment methods and service for you

Characteristic repayment methods include:

1. Repayment of principal and interest by week
Based on repayment methods of equivalent repayment of principal and interest or equivalent repayment of principal, You could make your payment in the term of seven or integral multiple of seven days. The minimum of the term is 7 days and the maximum is 21 days (including 21 days).
2. Increasing repayment by degrees
You could choose the amount of your term payment within the first period, (one period is calculated by one year) and increase the repayment based on that. You could make the increase by fixed-amount or geometric proportion. After the increasing period, you could make the repayment by the method of equivalent repayment of principal and interest, based on the residual quantity and time of your loan.  
3. Decreasing repayment by degrees
You could choose the amount of your term payment within the first period, (one period is calculated by one year) and decrease the repayment amount based on that. You could make the decrease by fixed-amount or geometric proportion. After the decreasing period, you could make the repayment by the method of equivalent repayment of principal and interest, based on the residual quantity and time of your loan.
4. Random payment
You could make the minimum repayment, which is calculated by the method of equivalent repayment of principal and interest, and add a random amount on that as your term payment within the contract period. In this case, your payment might be advanced. 　　
5. Pro-residence, post-payment
Pro-residence, post-payment offers you an opportunity to delay the payment of loan principal but only repay the interest before you move into your purchased house, as long as the house that you are purchasing holds the property or is forward delivery from the seller, who has signed mortgage cooperation contract with ICBC and who is willing to provide interim guarantee.

Characteristic repayment services include:
1. You can choose a fixed repayment date of each phase based on your income status in order to reasonably plan personal income and expense. 
2. In the repayment period provided in the loan contract, the repayment date can be graced for 10 natural days based on the agreed repayment date. 

☆ Interest rate information
RMB Loan Interest Rate Table

☆FAQs
1. How to determine the loan limit and term?
We suggest the monthly repayment not exceed 50% of you monthly income. You can determine the sum of monthly repayment based on above principle. Accordingly ICBC consumer manager will offer various combinations of loan limit and term based on your ages and the house price. You can choose the best loan limit and ternure.

2. How to choose the best repayment method?
Presently the most common and frequently used repayment methods include equivalent repayment of principal and interest and equivalent repayment of principal. According to equivalent repayment of principal and interest, when interest rate is fixed, the sum of the monthly repayment of principal and interest is fixed. If only you deposit a certain sum before the repayment date of each month, the bank will deduct a fixed sum for repayment. So it is very convenient.  According to equivalent repayment of principal, in case the interest rate is fixed, the monthly principal repayment is also fixed, while the interest is decreasing monthly. It is suitable for the consumer who has strong repayment capacity in the initial period or chooses more repayment in initial period to release the pressure in the future. In addition, aiming at your special repayment plan and requirement, ICBC offers 5 special repayment methods like repayment of principal and interest by week, increasing repayment by degrees, decreasing repayment by degrees, random payment and pro-residence, post-payment. You can consult local ICBC branch and ICBC consumer manager will recommend the suitable repayment method according to your demand. 

☆Responsibility Statement
The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.