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personal pledge loan refers to a personal loan business in which the borrower pledges legal and valid collateral that meets the bank's requirements, applies for a rmb loan from a banking financial institution approved by the china banking regulatory commission to open personal credit business, and repays the principal and interest of the loan on schedule. it has the characteristics of diverse collateral, simple procedures, and high loan amount.

definition and characteristics

• definition: a personal mortgage loan is a loan issued with the movable property or rights of the borrower or a third party as collateral.
• features:

1. no collateral: no property collateral is required, only collateral that meets the requirements.
2. convenient application: the application process is simple and quick, and you can apply through a variety of channels.
3. long period: the loan period can be up to several years, depending on the bank's regulations and the borrower's needs.
4. high loan amount: the loan amount is determined based on the value of the collateral and the borrower's credit status, and can be as high as hundreds of thousands of rmb.
5. fixed interest rate: the loan adopts a fixed interest rate, which is not affected by market interest rate fluctuations and reduces interest rate risk.

scope of collateral

according to the property law and relevant bank regulations, the collateral that can be used as personal pledge loans mainly includes: