How to apply for a personal travel loan

Personal travel loan

Personal travel loan refers to a RMB loan issued by the lender to the borrower, which is used by himself or a member of his family to pay the travel expenses of a specially appointed travel agency. Tourism expenses refer to the total tourism expenses consisting of transportation expenses, accommodation expenses, tickets, services and related expenses involved in the tourism projects handled by special tourism units and designated by the lender.

The starting point for a personal travel loan is RMB 2,000. The maximum loan limit is different from commercial banks in different regions. For a loan applied for a single personal travel consumption, the maximum limit is RMB 50,000; The maximum loan limit applied for travel expenses for the applicant and his family members is RMB 100,000.

1 Application conditions

1. Chinese citizens who have a fixed residence in China, a permanent residence in a local urban area (or a valid residence certificate), and full capacity for civil conduct;

2. Have a legitimate occupation and stable income, and have the ability to repay the principal and interest of the loan on time;

3. Be able to provide valid rights recognized by the lender as a pledge guarantee, or have a unit or individual with the ability to compensate as a guarantor to repay the principal and interest of the loan and assume joint and several liability;

4. Abide by laws and regulations, and have no illegal activities or bad credit records;

5. Open a Peony credit card or current savings account at the Industrial and Commercial Bank of China;

6. Sign an agreement with the lender agreeing to deduct the loan from his Peony credit card or current savings account;

7. Provide a down payment of no less than 30% of the actual quotation of the tourism project;

8. Other conditions specified by the lender.

2 Required information

When the borrower applies for a loan, the borrower must submit the information to the lender. When the borrower applies for a loan, the borrower must truthfully and completely fill in the "Application Approval Form" and other relevant content, and provide the following information:

1. "Application Approval Form";

2. Valid identity document;

3. Proof of residential address (household registration book and recent water, electricity, gas, etc. bills);

4. The "Travel Agreement" signed by the borrower and the travel agency and the "Voucher of Receipt of the Initial Travel Payment" issued by the travel agency;

5. Proof of occupation and income and basic information of family members (work permit, payslip and bankbook for payment of wages or other valid certificates);

6. If you apply for a loan by way of pledge guarantee, you should submit the rights pledge required for the guarantee. If you pledge the rights of a third party, you also need to provide the right holder's identity document and pledge authorization letter;

7. If you apply for a loan with a third-party guarantee, you should submit a written document indicating that the guarantor agrees to provide guarantee and the guarantor’s credit certificate;

8. Other information required by the bank. The borrower is fully responsible for the authenticity, legality and completeness of the information provided by it.

3 Application Procedures

(1) Select a travel agency and travel items

First of all, you need to select your travel route and the travel agency that provides the service. The amount of loan you need to apply for. Then pay a down payment of no less than a certain percentage to the travel agency. At this time, the travel agency will give you two copies of the "Bank Personal Travel Loan Application Approval Form". What you have to do is to check whether it has the official seal of the travel agency. Because the lending bank only recognizes the "Bank Personal Travel Loan Application Approval Form" with the official seal of the travel agency;

(2) Submit the application and submit the materials

Fill in two copies of the "Bank Personal Travel Loan Application Approval Form" After completing the "Travel Loan Application Approval Form", sign the relevant contract text, prepare the borrower information required by the bank, and prepare the guarantor information or relevant pledges and mortgage certificates according to the guarantee method you adopt, and send them to the nearest lending bank Business outlets are fine. All you need to do is that simple, and the rest is up to the bank.

(3) Bank loan review

The bank will accept your application and agree on relevant matters with you based on the loan guarantee method:

A. If it is a credit loan or For a pledged loan, the bank should reply to the borrower within the next working day;

B. If it is a guaranteed loan, the guarantor needs to go to the bank with you to sign a guarantee contract, or you can make an agreement with the bank to underwrite and sign a guarantee contract. The time and method;

C If it is a mortgage loan, the bank must agree with the borrower on the time and method of handling the collateral evaluation, notarization, insurance, mortgage registration, etc. and how to handle the corresponding fees. This is probably the most troublesome thing for both parties.

(4) Loan issuance

Travel loans are not issued to you, but directly to the travel agency. After the bank approves the loan and completes all required procedures with the borrower and guarantor, the lending bank will transfer the loan to the travel agency in the name of the borrower within 3 working days and notify you or the travel agency in writing or by phone.

(5) Return of loan

A. Refund of excess amount. After the travel is completed, the borrower notifies the bank in writing and authorizes the travel agency to transfer the excess balance to the bank within 3 working days after the completion of the travel contract. The interest on the remaining balance shall be deducted by the bank on its own initiative when the borrower deposits the money in the current deposit account designated by the bank.

B Repayment of the remaining principal and interest of the loan.

The borrower shall comply with the terms of the contract. Deposit the loan principal and interest in full into the current deposit account designated by the bank before the repayment date agreed with the bank, and the bank will voluntarily deduct it upon maturity.

Repayment of all principal and interest of C loan. After the loan principal and interest are fully repaid, you need to go to the lending bank and retrieve the pledge or mortgage certificate with the relevant mortgage or pledge receipt at the time of payment.

4 Approval Process

Personal travel loans implement the loan management method of "separation of review and loan, and hierarchical review and approval". The borrower's application will be initially reviewed by the savings bank outlet manager, reviewed by the head of the retail business section of the branch, and finally approved by the president (director) of the branch. Generally, lenders will respond to borrowers within 3 working days after receiving complete application procedures submitted by borrowers. For those that meet the conditions, the lender should sign a loan contract with the borrower; if the right is pledged as a guarantee, the lender should also sign a guarantee contract with the guarantor and go through the underwriting procedures [1].

5 Guarantee methods

(1) Credit loan

The meaning of credit loan is that the borrower does not need to provide other guarantees, but can guarantee it with his own credit loan. At present, there are two ways of credit loans for personal travel loans:

A If you are an academician of the Chinese Academy of Sciences, a person enjoying special allowances issued by the State Council, a national model worker, or a special teacher at the provincial or municipal level, then with If you have relevant certificates or certificates, you can apply for a credit loan;

B If you hold a bank card with a credit overdraft function, you can apply for a credit loan (issued by the bank) for a loan within the credit overdraft limit. After applying to the bank for a bank card, you can activate the overdraft function and enjoy the credit limit).

(2) Pledge method

If you have a deposit certificate or passbook issued by a lending bank, or a certificate-style treasury bond purchased at a lending bank outlet, these can be used as pledge guarantee. The amount of guarantee shall not exceed 80% of the face value of the pledged property.

(3) Mortgage method

If you have a property or car with clear title and can be mortgaged, you can also use mortgage guarantee. However, this method requires an evaluation to determine the value of the mortgage, and notarization, insurance, and mortgage registration are also required. The above procedures will incur certain fees, although not many, but they are all borne by the borrower. Therefore, for travel loan borrowers, most people will not be inclined to use this method as a guarantee for the bank first.

(4) Guarantor guarantee method

A legal person guarantee. Ordinary residents generally ask their workplace or another legal entity to act as a guarantee.

B natural person guarantee. You can find one or several guarantors with guarantee capabilities to guarantee you.

6 Disbursement and recovery

After reviewing and agreeing to grant the loan, the lender shall transfer the loan to the travel agency account selected by the borrower according to the time stipulated in the loan contract. . Loans can be repaid in one lump-sum payment of principal and interest upon maturity, or in installments. To repay the principal and interest in installments, the borrower needs to deposit enough money to repay the principal and interest of the current loan in the Peony Card or current savings account opened by ICBC according to the agreed repayment plan before each repayment date. , entrusting the lender to deduct the loan from its Peony credit card or current savings account as agreed.

When the borrower fails to repay the entire principal and interest of the loan within the specified period, the lender shall issue a collection notice to the borrower and hold the borrower responsible for breach of contract in accordance with the provisions of the contract. After the borrower repays the principal and interest of the loan, the loan contract terminates automatically. Within 30 days after the termination of the loan contract, the lender shall handle the registration and cancellation procedures of the pledge and return the certificate of pledge rights to the pledgor.

Within 30 days after the contract is terminated, the pledge registration and cancellation procedures shall be completed, and the pledge right certificate shall be returned to the pledgor.

7 Contract Rules

When the borrower and the lender need to change or terminate the loan contract, they must notify the other party in writing and reach an agreement in writing after negotiation and agreement by both parties. If the negotiation fails, Previously, the original loan contract continued to be valid. If the borrower dies or is declared dead within the repayment period, the lender shall promptly claim that the creditor's rights are repaid within the scope of the borrower's estate, and the shortfall shall be promptly sought from the guarantor or the pledged property shall be disposed of; if the borrower disappears during the repayment period, or loses capacity for civil conduct, the asset manager or guardian should be required to pay off the debt within the scope of the borrower's property, and the shortfall should be promptly recovered from the guarantor or handle the pledged property.

When the guarantor loses its guarantee qualification or ability, the borrower should promptly notify the lender and provide a new guarantor, and with the lender's consent, sign a new guarantee contract. Without the consent of the lender, the original guarantee contract remains valid.

8 Default handling

Any borrower who has one of the following circumstances is deemed to be in breach of contract:

1. The borrower fails to repay the principal and interest of the loan;

2. The borrower provides false information or conceals important events or information, which has caused or is likely to cause loan losses;

3. The borrower refuses to accept or obstructs the lender's supervision and inspection of loan usage;

4. Other acts by the borrower that violate the provisions of these Measures.

If the borrower defaults, the borrower has the right to dispose of the borrower's pledge to repay the principal and interest of the loan, overdue penalty interest, and liquidated damages; if a guarantee is used, the lender has the right to pursue the principal and interest of the loan and the overdue penalty from the guarantor. Penalty interest and liquidated damages. When a borrower adopts a mortgage or pledge method, the lender shall properly keep the pledged property. If the pledged property is lost or damaged due to poor storage, the lender shall bear the responsibility and compensate for the loss.

9 Constraints

1. Tourism credit consumer subjects

Constraints from traditional consumption concepts.

From the perspective of consumer psychology, China's current consumption level and consumption concept have not yet reached a situation where tourism loans can flourish. The change of this situation requires multi-faceted and long-term efforts. The difference between loan travel and loan to buy a house or a car is that Chinese consumers believe that the latter two are inseparable from daily life and are necessities of life, while the former is a kind of luxury consumption. Therefore, consumers are willing to take out loans to purchase necessities, but are not willing to take out loans to enjoy luxuries and increase their burden. The few people who can accept the concept of travel loans generally have higher incomes and do not need to borrow money to travel.

Consumer income and expenditure expectations are uncertain.

Our country is in a period of major adjustment of social structure and economic structure. Old systems such as unreasonable employment system and welfare system are disappearing, but new systems such as social insurance system, unemployment insurance system and minimum living security system are disappearing. The system has not yet been fully established and in place, and people lack accurate expectations for future income and expenditure, creating and increasing worries about the future. In addition, large expenditures on house purchase, children's education, and medical care require years or even decades of accumulation. Because of the uncertainty about future income and expenditure expectations, consumers will choose to deposit the saved money in the bank just in case, rather than taking out a loan to travel.

2. Tourism credit consumer providers

Weak profit drive.

As an enterprise, commercial banks should of course pursue maximizing corporate interests. Therefore, commercial banks tend to favor credit projects with larger profits and are generally less enthusiastic about tourism consumption credit business with smaller amounts. Small business volume and difficult to control risks are the main reasons why commercial banks cautiously develop tourism consumer credit.

The credit application process is too complicated.

In the current consumer credit, commercial banks are both consumer acceptors and credit grantors. They solely bear the financial pressure and risks of credit consumption, which restricts the further development of credit consumption. In order to reduce risks, lending banks must require lenders to perform complicated loan procedures with harsh credit conditions. The demand for tourism credit is often sudden, and the cumbersome and complicated credit application procedures will inevitably affect the enthusiasm of lenders and borrowers. For each loan, the bank requires a lot of documents, certificates and other materials; for loans of several thousand yuan, some even require guarantees, mortgages, appraisals and other procedures. The cumbersome procedures result in a long application period (at least 10 days). At this time, consumers may not have decided whether to travel or the specific route of travel, and of course it is impossible to apply for a travel loan. This overly complicated credit application process has seriously restricted consumers' enthusiasm for credit.

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