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CCB Offers Credit Lines for Personal Loans
The China Construction Bank announced Monday that it now offers lines of credit for personal loans and will extend the new financial option to the whole country.
A CCB spokesman said that loan applicants will be granted a certain amount of credit after they have submitted qualified security, mortgage, third-party guarantee or credit qualification materials.
During the effective term of the credit line, the borrower can get revolving loans from the CCB.
He said that the borrowers do not need to list specific purposes for the loans, and the money can be used for cashing, investment and other purposes.
To coordinate the launching of the new product, the CCB has formulated a method for appraising individual credit, under which the amount of credit will be determined according to borrowers' individual credit record.
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