Summary: Although BOC Consumer Finance was punished by Shanghai Banking Regulatory Commission for its non-compliant development, it is still a legal lending financial institution, and users who apply for loans need to repay in full and on time. Among them, the loan principal and interest need to be repaid in one lump sum at maturity, and the interest can be repaid in installments at maturity, with monthly interest, and the principal can be repaid after maturity.
Extended data:
China Bank Consumer Finance
Product characteristics
No mortgage guarantee is needed.
Customers who have a stable job in Shanghai, have worked in the current unit for 6 months continuously, have payment records, and have a monthly income of more than 2,000 yuan can apply.
Small repayment pressure
You can choose the minimum repayment method and the active repayment method, and decide your repayment behavior at any time according to your own economic situation.
Flexible borrowing and returning
There is no fixed repayment period, and the loan period ranges from 1 day to several years. It is entirely up to you to decide the time and amount of installment repayment according to your own needs.
Rapid application
There are two ways to apply:
A) Apply at the consumer finance service point, and notify the approval result within 1 hour;
B) Apply online on the website of BOC Consumer Finance Company, and notify the approval result within 3 working days.
According to the Measures for the Pilot Management of Consumer Finance Companies, consumer finance companies are "non-bank financial institutions that do not absorb public deposits and provide loans for consumption purposes for individual residents in China on the principle of small amount and dispersion". Consumer finance companies mainly provide loans for consumption purposes for individual residents, such as purchasing durable consumer goods such as household appliances and electronic products, and personal and family travel, wedding, education and decoration, but do not include mortgage loans and car loans.
Handling methods and consequences of non-repayment of bank loans
1. If it is really unable to repay, it shall negotiate with the bank to extend the repayment period or return it in installments.
2. If the bank fails to perform the judgment of the court within the performance period after suing the court and winning the case, it will apply to the court for enforcement.
3. When accepting enforcement, the court will inquire about the real estate, vehicles, securities and deposits in the name of the lender according to law.
4. If the lender refuses to perform the effective judgment of the court because there is no enforceable property under his name, negative information such as overdue repayment will be recorded in the personal credit report, which will restrict high consumption and entry and exit, and may even lead to judicial custody.
5. Refusing to execute a judgment or ruling is suspected of refusing to execute a judgment or ruling.
Article 313 of the Criminal Law: Crime of refusing to execute a judgment or ruling. Whoever refuses to execute a judgment or ruling, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or a fine.