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Wealth Management Account Linked Housing Loan Account

Overview

The Wealth Management Account Linked Housing Loan Account is a service we provide for personal housing loan borrowers to effectively use money and save interest on loans. The wealth management account is linked to a personal housing loan of the borrower. We calculate and pay returns based on the balance of the borrower’s wealth management account and the loan.

Features

Offset loan interest payable by the deposit interest income; easy mortgage payments to realize wealth increase.

Benefits

1. Low threshold

Daily balance of the wealth management account, in excess of RMB50,000, is eligible for wealth management returns.

2. High returns

Wealth management returns are much higher than demand deposit interest; it is calculated on a daily basis and paid regularly.

3. Daily accrual and regular payment

4. Simple procedure

Simple application procedure at all times.

5. Flexible use of funds

Funds deposited may be used flexibly. Surplus may be deposited into the wealth management account to generate extra returns. Funds are immediately available for use when money is tight.

Calculation of wealth management returns

Wealth management returns accrue on a daily basis and are rewarded after each installment of loan is successfully paid.

Daily wealth management return = (balance of wealth management account at the close of each business day × withdrawal percentage for the relevant deposit level – quick calculation factor) × (applicable annual interest rate of loan – annual interest rate of demand deposit) /360

Calculation parameters are listed in the table below:

Balance of wealth management account at the close of each business day (RMB10,000)

Withdrawal percentage

Quick calculation factor (RMB10,000)

5-50 (inclusive)

60%

3

50-100 (inclusive)

70%

8

Over 100

100%

38

Application Channels

Authorized outlets of ABC.

Tips

1. Wealth management returns are paid regularly. When you make your installment payment for a personal housing loan before the deadline, we will pay you the wealth management returns for that period; if you fail to do so, the wealth management returns for that period will be revoked.

2. If there is a default on any installment of loan principal or interest relating to your wealth management account designated as the loan repayment account, we will suspend accrual of wealth management returns until the principal amount and interest is paid off.
Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599

Outlet

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