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ARDY’s Lending Policy

Time:2009-05-17 22:47:32From: Writer: Click:

I.                   Loan Availability

At the branches, loans are available for agricultural production, family living expenses, small-scare industry workers, service providers, and small business operators.

II.                Loan Amount

1.      Credit loans cannot exceed the amount of 3000 RMB.

2.      For those who have complied to the rules, they can ask for another loan. However, the previous loan must have no violations on record for at least three months before receiving the next loan. The loans will be added up and divided into several payments to be repaid over time.

III.             Loan Deadline

3 types: 1 year, ½ year, 3 months

IV.             Interest on Loan

The fixed interest rate of 9% (honorary interest rate) will be paid in stages every 15 days (half-a-month) until the last payment. Interest payments are determined according to the following: unpaid loans that are less than 3 months old will follow the interest rate for 3 months; unpaid loans beyond 3 months but less than 6 will follow the interest rate for 6 months; unpaid loans beyond 6 months but less than 9 will follow the interest rate for 9 months; and, unpaid loans beyond 9 months but less than 1 year will follow the interest rate for 1 year.

V.                Loan Return

1.      Regulation: All loans and interest will be divided according to the deadline with each separate payment to be repaid every 15 days (half-a-month). Example: (loan amount + annual interest)/number of repayments – amount repaid = payment per half a month

2.      Repayment Method: All loans will be repaid at the appropriate time at the branch offices.

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