1. Let's talk about ICBC products first. The monthly interest rate should be 0.225% and the annual interest rate should be 2.7%. When the interest is paid off, it will be displayed as a credit card, which is equivalent to the real interest rate of 4.94% (annualized interest rate). Of course, this is 9% lower than the annualized interest rate of 5.39% of the mortgage, so it is still cost-effective in terms of interest rate.
2. The loan depends not only on the interest rate, but also on the amount. The other party may tell you that you can handle 6,543,800 yuan, but in fact most of them are 300,000 yuan. The requirement of reaching 6,543,800 yuan is very high. It is understood that there is no approval of 6,543,800 yuan.
3. The mortgage term is longer and the monthly payment will be lower. In the long run, mortgage is more suitable.
First, the applicant's conditions
China citizens with permanent residence in China, permanent residence in local towns (or valid certificates), full capacity for civil conduct and meeting the following conditions may apply for personal credit loans.
1. Have a proper occupation and a stable income source (the monthly salary income must be above 1000 yuan), and have the ability to repay the loan principal and interest on schedule;
2. The borrower's unit must be an administrative, enterprise or institution recognized by the bank and having a good cooperative relationship with the bank, and the bank needs to pay wages on its behalf;
3. Abide by the law, and have no illegal acts and bad records;
4. Open a personal settlement account in China Industrial and Commercial Bank, and agree that the bank will deduct the loan principal and interest from its designated personal settlement account;
5. Other conditions stipulated by the bank.
Second, the loan amount
The starting point of personal credit loan is 2000 yuan, and the loan amount does not exceed 6 times of the borrower's monthly salary.
Third, the loan term.
The term of personal credit loan is below 1 year (inclusive), and it is generally not extended. If the loan cannot be repaid on schedule due to force majeure, it can be extended once with the consent of the lender, and the cumulative loan period shall not exceed 1 year.
Fourth, the loan interest rate.
The loan interest rate is calculated according to the loan interest rate for the same period stipulated by the People's Bank of China. In case of interest rate adjustment during the loan period, it shall be calculated according to the contract interest rate, and interest shall not be calculated by stages. If the loan term is less than 6 months, the interest shall be calculated at the interest rate of 6 months.
Verb (abbreviation for verb) loan process
1. The borrower submits the following information to the bank:
(1) loan application approval form;
(2) my valid identity certificate and a copy;
(3) proof of residential address (household registration book or receipt of rent, water, electricity and gas expenses for the past three months);
(4) proof of occupation and income (original and photocopy of work certificate; Banks will issue salary passbooks, etc. );
(5) Effective contact information and telephone number;
(6) Personal settlement account voucher opened in China Industrial and Commercial Bank;
(seven) other information required by the bank.
2. After the application materials submitted by the borrower are approved by the bank, both parties sign a loan contract.
3. The bank issues loans to borrowers through transfer.