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Q: Can foreigners borrow money from a Chinese bank?

I'm an American and I'm looking to borrow about 30,000 rmb. I have a stable job and a residence permit, but is this even possible?

 

I'd appreciate any info.  Thanks Laughing out loud

8 years 14 weeks ago in  General  - China

 
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Emperor

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If you have the collateral (house, car, ayi) in your name then you should be able to get a loan.  But, it will most likely be a very short term.  Normally, though, if you are just looking for a loan based off of your salary & residence permit, then the banks will just say no.

 

Depending on how desperate (and perhaps silly) you are there are black market loans you can get if you have the right contacts.  But just like the black market loans in your home country, they come with huge interest rates and the potential for broken kneecaps if you are late with your payments.

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8 years 14 weeks ago
 
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Governor

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loan from the banks requires assurances that you are going to return it . loan from chinese bank needs a chinese person having house on his name , property on his name, cute bank balance, sexy job for returning it....... otherwise loans are just a dream for foreigners. but money talks as well if you show them some thing tangible so maybe you get luck with it.

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8 years 14 weeks ago
 
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In China, if you are a foreigner and walk into a bank to request a loan, the first thing the officer talking to you will think is that since you are a foreigner, you will take the money loaned and next day fly back home and do not repay a jiao of it.

 

As ExpatJohn said, you will also need to show that you have a steady job for over one year, a nice salary, savings account at the institution you solicit the loan, and collateral.  Otherwise, you may have to "borrow" the money from one of your foreign credit cards if you have one.

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8 years 14 weeks ago
 
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i m married to Chinese citizen can she get loan on appartment

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1 year 13 weeks ago
 
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married to retired Chinese Citizen with small pension (about 300.00 USD)I have large stock account can Iget a loan in her name? we have 3000.00 USD income mostly mine I am a US citizen can we get a loan based on your dual income?Appartment loan % down and % 

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1 year 13 weeks ago
 
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