Petty consumer credit loans of the Bank of China are consumer credit loans granted by the lender to borrowers with good credit standing to facilitate normal consumption, labor service and other fee payments.

Lending Conditions

A borrower (natural person) applying for petty consumer credit loans of the Bank of China must meet the following conditions:

1.    Being a natural person aged 18-60 with full capacity of civil conduct;

2.    Having city/town registered permanent residence or a valid residence permit;

3.    Having a legitimate occupation and a stable income, and having the capacity of repaying the loan principal and interest accrued on schedule;

4.    Having opened a demand account or Great Wall credit card account with the Bank of China;

5.    The personal credit is evaluated and accepted by the lender. For a holder of the Great Wall golden card of the Bank of China or a holder of the Great Wall ordinary card for two years or more, separate evaluation of personal credit is unnecessary; and

6.    Other conditions made by the lender.

Length of Maturity

•     The longest maturity of a petty consumer credit is one year.

Credit Limit

•     The maximum borrowing limit of a petty consumer credit is temporarily set at RMB100,000.

Lending Rate

•     To the interest rate for petty consumer credit loans, the interest rate for loans of the same grade set by the People's Bank of China applies. Upward fluctuation of the interest rate shall not surpass the range provided for by the People's Bank of China.

Loan Application

The application by the borrower to the lender for a loan, shall be supported by the following materials:

1.    An application for borrowing;

2.    Valid credentials of the borrower (referring to an I.D. card, a residence booklet and other valid residence certificates);

3.    Testimonials of occupation and income (an employee's card and a pay sheet, or a passbook for salary payment through an agency or other valid certificates);

4.    For a Great Wall card holder, his credit card to be produced; and

5.    Other documents or materials required by the lender.