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Bank loan contract

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					Bank loan contract


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Chapter I General Provisions
The first support of ordinary urban residents purchase their own housing, standard
individual housing credit management, maintenance of the legitimate interests of both
lenders and borrowers, according to People's Bank "Personal
Housing Loans", to develop the implementation details.
The second refers to individual housing loans to borrowers who have purchased
ownership of housing and other property as collateral or pledged property, or by a
third party to provide guarantees for loans and loan jointly and severally liable.
The third sub-section of individual housing loans with the housing provident fund
loans and loans with credit funds.
Article IV of the Regulations apply to the Agricultural Bank of China at all levels.
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Chapter II of the object and conditions of loans
Article banks to grant housing loans (hereinafter referred to as loans) the object is a
full civil capacity of natural persons, and meet the following conditions:
(A) with urban permanent residence or valid residence status;
(B) have stable jobs and income, good credit, there is the ability to repay the loan
principal and interest;
(C) a contract or agreement to purchase a home;
(D) no housing subsidies to the Agent Bank to open a savings account or deposit paid
housing provident fund deposits, deposits accounted for the proportion of the amount
required to purchase a home shall not be less than 30%, and as a purchase down
payment; have housing subsidies to individuals to bear part of the 30% down payment
to buy a house;
(E) Authorized Agent Bank as security or pledge of assets, or adequate compensatory
ability of the unit or individual as repayment of principal and interest and assume joint
and several liability of the guarantor;
(F) other conditions prescribed by the handling agency.
Article VI of the Borrower to the Agent Bank shall truthfully provide the following
information:
(A) the borrower's ID (ie ID card and residence booklet and other valid
residence certificates);
(B) the borrower to prove income families to stabilize the economy;
(C) the required letter of intent to purchase the housing contract, agreement or other
approved documents;
(D) mortgaged or pledged property inventory, ownership certificates and who have
agreed to dispose of evidence of mortgage or pledge, valuation certificate; guarantor
agree to ensure that the written comments and the guarantor of the credit certificate;
(E) the use of housing provident fund loans, need to hold the housing provident fund
management fund deposits issued by the borrower and the loan balance amount of the
certificate;
(6) Agent Bank requested additional documents or information.
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Chapter loan procedures
Article VII of the borrower should be made directly to the Agent Bank loan
application. Agent Bank and the receipt of loan applications to meet the requirements
of the various types of information from the date the applicant should make a formal
reply within three weeks. Agent Bank review and approve, in accordance with the
"General Rules on Loans" and the relevant provisions of the
Agricultural Bank of China, grant housing loans to the borrower.
Article VIII of the loan application is approved, the loan contract agreed upon by time,
by the way of handling line with a transfer unit transferred to the houses, opening a
bank account.
Article in the loan period, the borrower must deposit the loan account opened less
than two payments of money there.
Article borrower's repayment shall be agreed in the contract, the repayment
plan to repay the loan on time. Term of the loan within a year (including year), the
implementation of a debt service due, with the clear benefit; more than one year loan
term, the implementation of monthly installments to repay the loan. There are two
ways to return in phases: one is equal pay laws, the other is decreasing reimbursement
method. Loans can only 1 each
Kinds of payment methods can not be changed after signing the contract.
Amortization formula:
(A) equal pay laws:
Repayment in months
On a monthly repayment of principal × rate ×〕 〔1 + monthly rate
=------------------
Loan principal and interest payment
Repayment in months
〔〕 -1 1 + monthly rate
(B) decreasing reimbursement method:
Monthly repayment of loan principal
=-----+( Principal - has returned to the cumulative principal amount) × month interest
rate
Loan principal and interest amount of loans on the number of months
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Chapter IV loan term, interest rate and amount
Article loan term, self-determined by the Agent Bank, but no longer than 20 years.
Article XII of the housing provident fund loans with their interest rates Lump in the 3
months deposit rate increase based on the point of execution. Loan period is 1 to 3
years (including 3 years), plus 1.8 percentage points; a period of 3 to 5 years
(including 5 years), plus 2.16 percentage points; a period of 5 to 10 years (including
10 years), plus 2.34 percentage points; period of 10 to 15 years (including 15 years),
plus 2.88 percentage points; period 1
5 to 20 years (including 20 years), plus 3.42 percentage points;
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posted:8/16/2010
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