1. Limit expiration, Bank of China eLoan funds are valid for 12 months. After expiration, they cannot be used and need to be reactivated.
2. Late repayment. As the amount in Bank of China e-loan is recoverable, if the user has bad behavior such as late repayment, the system may freeze the amount in the user's account, so the funds in the account can not be transferred
3. System failure. Sometimes it may be a system failure that causes the transfer to fail. Try again after some time.
4. For illegal use, the loan funds of BOC E-Loan can be used for personal legal and reasonable consumption expenditure, such as home renovation, car purchase, education, medical treatment, etc., and shall not be used for non-declared purposes and personal expenditures prohibited by laws and regulations. The bank will also freeze your quota if you use it in violation of the regulations.
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1. Bank of China's eLoan credit quota can be reused within the validity period. The loan accrues daily interest based on the actual number of days of the loan. After the approval of Bank of China e-Loan, users only need to click the withdrawal button, select the purpose, amount and term of the loan as needed, and enter the mobile verification code and dynamic password. The funds will be credited to the account immediately after the withdrawal is successful.
2. On November 2, 2020, the China Banking and Insurance Regulatory Commission (CBIRC) and the People's Bank of China (PBOC) publicly solicited opinions on the Interim Measures for the Administration of Online Microfinance Business (Draft for Opinion) regarding the use of the loans, the draft opinion clearly states that microfinance companies should clearly agree with borrowers on the use of the loans and monitor the use of the loans in accordance with the contractual agreement. Online small loans shall not be invested in bonds, stocks, financial derivatives, asset management products, etc. ; they are not allowed to buy houses and repay home mortgages.
3. In order to prevent the risk of excessive lending, the opinion draft proposes that the balance of online small loans for a single natural person should not exceed 300,000 yuan in principle, and not more than one-third of the average annual income of the last three years. The lower of these two amounts is the maximum loan amount.
4. Consumers should be reminded that when using personal consumption loans, they should follow the principle of small risk, short-term and controllable, try to avoid excessive consumption in advance, no malicious fraud or default loans, and beware of overdue loans that affect personal credit.
Why can't I transfer my BOC eLoan?
The reasons why BOC eLoan can't be transferred out: BOC eLoan's quota has expired; BOC eLoan is overdue in the process of using; the system is busy or the system is malfunctioning; the loan funds of BOC eLoan are used illegally, and the purpose of the funds is not in line with the requirements. Since BOC eLoan is a consumer loan service supplied by Bank of China for quality customers, only some users can apply for this loan.
After BOC eLoan is approved, you can directly choose to withdraw the funds, and the successful withdrawal of the funds will lead to the immediate withdrawal of the funds, which requires a dynamic password token, which the user needs to prepare one.
BOC e loan money how to transfer outThere are several reasons:
1, quota expiration, BOC e loan funds have a validity period, the validity of 12 months, after the expiration of the can not be used, you need to re-activate.
2, the first late repayment, BOC e loan inside the quota although can be recycled, but if the user late repayment, the user may freeze your account inside the quota, the natural transfer out of the.
3, system failure, sometimes it may be a system failure, resulting in the transfer out, after a period of time to try again.
4, violation of the use of the loan funds can be used for home furnishings, car, education, medical and other personal legitimate and reasonable consumer spending, shall not be used for non-declared purposes and personal expenses prohibited by laws and regulations. If it is used in violation of the law, the bank will also freeze your credit limit.
The BOC eLoan credit line is revolving and repayable within the validity period. Interest is accrued on a daily basis according to the number of days the loan is actually used. After the approval of BOC eLoan users only need to click on the withdrawal, according to the need to choose the purpose of the loan, the amount and period, and enter the cell phone verification code and dynamic password, the withdrawal of funds immediately after the success of the account. If you can't withdraw your credit limit, the probability is because of the above said reasons.
Expanded Reading
Bank of China eLoan
Bank of China utilizes the Internet and big data technology to provide high-quality payroll customers, wealth private banking customers, home loan customers, and some regional contributing provident fund/social security/taxation customers with a full-process online credit and consumer loan service, which enables them to enjoy the convenience and high efficiency of applying online, getting approval in a second, making withdrawals in real time, and making flexible repayments, all without having to leave their homes. The service provides a convenient and efficient way to enjoy online application, approval in seconds, real-time withdrawal and flexible repayment without leaving your home.
I. Loan amount: up to 300,000 RMB.
Second, the loan period: the validity of the loan amount is 12 months, the borrower can use the amount of money within the period of time, and the amount can be reactivated after the expiration of the amount of money.
Third, the purpose of the loan: the loan can be used for home furnishings, car purchases, education, medical care and other legitimate and reasonable personal consumption expenditures, and shall not be used for non-declared purposes and personal expenditures prohibited by laws and regulations.
Fourth, the use of: credit line validity period can be used on a revolving basis, borrowing and repayment. The loan is interest-bearing on a daily basis in accordance with the actual number of days of use.
V. Repayment Methods: A single loan can be repaid by a lump sum at maturity, or by monthly interest payments at maturity.
Fifth, the guarantee mode: credit loans, no need to pledge guarantee.
Why can't I transfer money even though I've applied for a personal loan at the People's Bank of China?
Some loans have a fixed purpose, so loans with a fixed purpose cannot be transferred at will, but only by the bank to a designated account.
In addition, it is known that the money released by the bank down, if it is earmarked for a specific purpose, then it can only be used for the agreed consumption, but can not be transferred. The user is applying for a consumer loan, and the bank has not stipulated that it can not be transferred, then whether it is a card consumption, transfer, cash withdrawal is allowed. When the user applies for a loan, it is important to see if there are any additional regulations on the use of the loan funds. Of course, if the loan funds are used in violation of the law and detected by the bank, the bank will require the user to settle all outstanding payments at once.
Secondly, because the loan is based on the loan contract, the use of the loan must be in line with the appropriate purpose, so the loan is issued in accordance with the contractual agreement on the way to pay the loan funds are generally not directly issued to the borrower. According to Article 31 of the Interim Measures for the Administration of Personal Loans, which adopts the lender's fiduciary payment, the lender shall require the borrower to submit an application for payment when using the loan and authorize the lender to disburse the loan funds in a contractually agreed manner. The lender shall examine whether the relevant transaction information and vouchers of the borrower meet the contractual conditions before the disbursement of the loan funds, and make a good record of the determination of the relevant details after the disbursement.
Finally, if you need to use the loan, you can take the following methods. You should submit materials for the use of funds. Under the amount of money should be used in the original agency, a single use of money need to be submitted one by one application for the use of money, and provide the following materials, approved by the approval before use:
1, loan purpose materials: invoices for the purchase of goods, contracts, and other relevant documents; for the provision of a statement of the purpose of the loan for the special circumstances, to ensure that the legitimacy of the use of the loan shall not be in violation of the relevant laws and regulations and the People's Bank of China, CBRC on the use of personal loans on the relevant provisions, shall not be arbitrarily misappropriated.
2. According to the Interim Measures for the Administration of Personal Loans of the CBRC, the use of fiduciary payment shall provide valid counterparty account information. For those who fulfill the conditions for autonomous payment, personal account information shall be submitted.
3. If the time of using the loan is six months or more between the time of using the loan and the time of approving and passing the line of credit, it is necessary to submit the latest supporting documents of income proof, etc. The details are subject to BOC's requirements.
4. Other materials required by BOC.