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Personal Home Improvement Loan

☆ Description
Personal Home Improvement Loan is an ICBC RMB loan for home improvement including house decoration and purchase of decorating materials, durable consumer goods and other large-value consumer goods.

☆ Features
1. High loan amount: Up to RMB 1 million.
2. Long tenure: Up to 10 years.
3. Many guarantee options: Mortgage, pledge, surety bond, credit, combined guarantee or partial guarantee, etc.
4. Revolving loan: Apply once, use revolvingly, borrow and repay anytime, fast and convenient. Loan can be drawn by the borrower himself/herself via merchant POS or internet banking. For loan secured by mortgage or pledge, the borrower can apply for the loan and use it revolvingly within the maximum guaranteed amount.

☆ Application Conditions
1. Natural persons with full capacity for civil conduct, age between 18 (inclusive) - 65 (inclusive);
2. Hold valid identity document, certificate of marriage status. Have permanent residence and certificate of domicile (or certificate of residence) where the lending branch is located;
3. Have gone through the appraisal in ICBC internal ratings-based system of retail banking, with the loan score meeting ICBC rules;
4. Have a good credit record and repayment willingness, without any bad loan record in ICBC or other financial institutions;
5. Have sound income source and ability to fully repay the principal and interest on schedule;
6. Have legal, valid, reliable and full-amount guarantee recognized by ICBC, or other conditions for personal loan;
7. Have clear, legal and compliance loan purposes;
8. Hold the personal settlement account with ICBC;
9. Meet other conditions specified by ICBC.

☆ Documents Required
1. Application Form for Personal Home Improvement Loan of Industrial and Commercial Bank of China;
2. Original and photocopy of applicant's valid identity document, certificate of domicile (or residents booklet or other certificate of residence), certificate of marital status (marriage certificate, divorce certificate, declaration of single status);
3. Proof of loan repayment ability, such as tax returns, personal income proof, investment return proof, rental income proof, or financial assets in ICBC or in other banks within the last 6 months;
4. Proof of loan purpose, such as renovation contract, contract of sales and purchase of merchandize, deposit receipt or proof for other purposes;
5. Ownership certificate if the loan is secured by collaterals/pledges;
6. Pledges that meet the requirements of ICBC on the personal pledge loan if the loan is secured by pledge;
7. Details about borrower/guarantor as required by ICBC if the loan is guaranteed by credit or natural person;
8. Documentation required if the loan is backed by combined guarantee or partial guarantee;
9. Other documentation or materials required by lending branch.

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.
Personal Finance