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Personal Business Loan for Farmers

Overview
The Personal Business Loan for Farmers refers to the large-amount credit granted to individual members of farmer households to meet their fund demands on scale production and operation.

Features
1. Flexible mode of loan. If related requirements are met, farmer households may apply for loans by means of guarantee, mortgage, pledge, and joint guarantee of farmer households.
2. Flexible mode of loan use. According to different modes of loan use, the Personal Business Loan for Farmers is divided into self-service revolving mode and general mode. Under theself-service revolving mode, the customer may borrow and repay a loan anytime, namely withdraw and repay money through self-service borrowing within the approved maximum amount and term; under the general mode, we grant loans to the customer in a lump sum, and recover the loan in the same way or by installment. The specific mode of loan use will be determined after negotiation between the customer and ABC.
3. Interest saving. Under the self-service revolving mode, the interest on Personal Business Loan for Farmers will be calculated according to the actual days of service, which can reduce the customer's interest expenditure to the largest extent.

Procedures

FAQs
1. Who can apply for the Personal Business Loan for Farmers?
The customer who applying for the Personal Business Loan for Farmers shall be farmer households meeting the following conditions:
• The customer shall be over 18 full years old (included), and the sum of his/her age when he/she applies for a loan and the loan term shall not be over 60 years (included). Also, the customer shall have fixed residence in rural areas, be in good health, have complete civil capacity and work ability, and hold effective identity document.
• In accordance with the Administrative Measures for Credit Rating of Agro-related Customers of Agricultural Bank of China, customers' credit rating result shall be good or better;
• The customer shall have stable income source, and the ability to repay credit on schedule;
• The customer's production and operating activities shall be lawful, and meet national industrial, vocational and environmental-protection policies;
• The customer shall provide lawful, effective, and full-amount guarantee;
• The customers and their spouse shall have good credit record; when applying for loans, he/she shall have no overdue loan and malicious overdraft of credit card; and within the latest 24 months, the customer shall have no overdue record of over 90 days (included) continuously or over 6 installments accumulatively.
2. Documents Required for the Application 
• Original and copy of the customer's effective identity certificate;
• When security guarantee is involved, it's necessary to provide a documentary evidence proving that the guarantor agrees to provide it; when mortgage and pledge guarantee are involved, it's necessary to provide the ownership supporting documents of estate under mortgage or pledge right, and the written evidence proving that the party who is holding the right of disposing agrees with the mortgage (pledge);
• The customer having obtained business license shall provide the business license which has passed the annual inspection, while the customer dealing with license operation shall provide the original and copy of the permit for operation issued by related competent administrative department;
• Other materials required by the lender.
3. What are the term, interest rate, and line of the Personal Business Loan for Farmers?
• Under general mode, the loan term shall not be over 3 years in principle. For production and operating activities with long production cycle, such as forestry and fruit industry, the loan term may be extended to 8 years at the longest.
• Under self-service revolving mode, the term of credit shall not be over 3 years at the most, the term of single loan within the line shall not be over 1 year generally, and the expiration date shall not exceed 6 months after the effective period.
• For the specific interest rate of the Personal Business Loan for Farmers, please consult local operating bank. For faithful and contract-abiding customers, we may provide preferential interest rate.
• The line of the Personal Business Loan for Farmers for single farmer household starts from RMB50,000 (excluded). The balance of single household will not exceed RMB1million (included) at the most, whereas, the balance of single household adopting self-service revolving mode will not exceed RMB500,000 (included) at the most.
4. What is self-service borrowing?
• Self-service borrowing means that the customer borrow money and repay after password verification and operations as instructed, with the bank card regulated in contract as the settlement instrument for loan withdrawal and repayment. It can be done through self-service borrowing channels, including our business counter, self-service banking (including ATM, Cash Recycling System (CRS), self-service terminal, and transfer telephone), online banking, telephone banking and mobile banking.
• Except for our separate announcement and notification through outlet or website, self-service banking channels are automatically open to the customer; online banking, telephone banking and mobile banking shall be opened after he/she apply for loans and get our confirmation. Once the contract takes effect, the change of self-service banking channels shall be subject to our announcement or notification; other channels opened by us, except for those that should be applied for separately by the customer, will be automatically available to him/her.

Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599

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