OREANDA-NEWS.  October 12, 2012. Earlier, ICBC Beijing Branch launched a new loan product - Home Equity Lines of Credit, in response to the national policy of expanding consumption and supporting cultural sector, and the rising demand of financial services from the consumers. This year, the Branch has provided the home equity lines of credit to nearly 3,500 borrowers totaling over RMB 4.5 billion, reported the press-centre of ICBC. 

A home equity line of credit is an ICBC personal loan, a form of revolving credit in which the home of borrowers serves as collateral. The loan can be used for many purposes - home improvements, buying durable, expensive items, educational or training expenses, travel at home or abroad, weddings, healthcare and body fitness. Besides offering more choices by helping borrowers free up their fixed assets to secure the loan, home equity lines of credit are also an innovative loan product of ICBC that is relevant to distinct client needs, either for home improvements, cultural expenses, or overseas study.

Borrowers welcome home equity lines of credit, since the loans offer high amount of credit, good interest rate, easy to apply and can be used for different purposes. The amount of credit can go up to RMB 2 million, fast and easy application, available within two weeks shortest once all necessary documentation is provided.

To attract more borrowers and facilitate them to apply, ICBC Beijing Branch works with different partners, such as home furnishings market, overseas study agencies, training organizations, tour and wedding companies, to provide more information to borrowers through different channels. Eligible applicants are welcomed to apply at any 37 sub-branches under ICBC Beijing Branch, just go to the nearest sub-branch.