Insurance policy credit loans
1. Apply for a loan with the policy, the applicant must be the insured rather than the insured.
2. The longer the policy payment working time, the higher the number of payments, the higher the amplification, the greater the impact of the loanable amount, the maximum target amount of 500,000 for a single policy loan
3. policy interruption, re-activation or repayment of a year, you can apply for a loan, 私人貸款年利率or a one-time payment or has completed payment and the term has expired, you can not apply for a policy loan.
4. Most of the policy loans are traditional life insurance policies and only some are participating life insurance policies and universal life insurance policies.
5. The amount of one policy is small, which affects the loan amount. Multiple policies can be stacked, conventional banks can apply for three policies stacked.
6. The policy application for a business loan does not require pledging the original customer policy, which will not have any one effect on the policy. Many policies can be simultaneously underwritten online and developed with electronic versions.
7. The policy loan can only be repaid by matching the principal and interest, and the annual interest rate is generally 15% -. -24%.
8. When applying for a loan with a policy, banks require the policy to be paid more than 3 times a year, more than 25 times a month, more than $2,400 a year and more than $200 a month.
CPF Credit Loan
The CPF credit loan here is not a CPF housing loan. There is a difference between these two.
1. the annual interest rate of the premium credit credit as generally in 5%-12%, and can really do the interest first and then the capital; borrow as you go, is no interest income inside the credit company product design lower type.
2. The minimum requirement for a premium loan application is a fund payment base greater than 4,000, a single side payment of more than 380, and 6 consecutive months of payment.
3. The higher the PF payment base and the longer the payment time, the higher the loan amount. The loan amount is usually 10 to 20 times the reserve balance multiplied by the time factor, normally up to 500,000 yuan
4. According to the nature of the company, premium loan customers can be divided into three categories:ABC customers. class A customers refer to civil servants and employees of institutions, class B customers refer to employees of state-owned enterprises and listed companies above the Fortune 500, and class C customers refer to employees of ordinary limited companies. Some assembly line employees of large enterprises are also recognized as Category C customers. Generally most of the high quality loan products are imported to AB class customers.
5. If the customer's provident fund is not broken for more than one year, the customer cannot apply for a quality loan.
6. For premium loans, as long as the customer pays a high amount of CPF contributions and pays for a long time, most banks sign the loan in a single way and do not review the loan by email
7. General formula for CPF base = Personal payment amount / CPF payment ratio
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