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Personal Banking > Intermediary Service > Guarantee
Guarantee

Definition:
In Personal Guarantee, the customer pledges the Certificate of Time Deposit of Hua Xia Bank and guarantees the borrower to get loans from Hua Xia Bank while collecting guarantee fee from the borrower.

Features: Credit enhancement, address the needs of both sides.
1. Credit enhancement: The guarantor backs the borrower's loan with the pledged personal deposit to boost the borrower’s financing capacity and credit. It helps to closethe deal. 
2. Address the needs of both sides: It both fulfills the borrower's financing needs and fulfills the pledger's need for higher income.

Applicable Clients:
Staff of the borrower company; individual customer with idle fund and in need of financing service. The availability of the service is currently limited to Nanjing.

Service Channels:
At Hua Xia Bank outlets provide guarantee service consultancy, application, and processing. The Telephone Banking and Internet Banking provide advisory services.

Service Flows:
1. Application: The customer approaches Hua Xia Bank outlets, deposits the underlying Time Deposit in Hua Xia Card, and signs pledge contract to freeze the pledged Time Deposit on the bankcard. 
2. Loan release: Hua Xia Bank releases the loan and collects guarantee fee. 
3. Loan repayment: In case the borrower repays loan principal and interest, the guaranteed liabilities are cancelled and the customer completes procedures to lift pledge. 
4. After the pledge is lifted and the account is un-locked, the personal customer may withdraw on deposit upon presentation of Hua Xia Card.

Important Information:
1. The loan tenor under herein service shall be less than 3 years. The single minimum amount of pledged Time Deposit herein is RMB 10,000 and may be increased in integralmultiples of RMB 10,000. The guarantee tenor commences on the guarantee starting date and ends on the repayment date for all principal and interest. The guaranteed liabilities are only limited to the customer's pledged Time Deposit principal and interest at Hua Xia Bank. 
2. Upon loan maturity, in case the borrower fails to repay all loan principal and interest, Hua Xia Bank has the right of direct deduction from the pledged deposit in Hua Xia Card for loan repayment.

Note: This page is for reference only, part of the business to local outlets announcement with specific provisions prevail.