KBank's Car Rental Loan Product

KBank's car rental loan is a consumer loan which is used to repay the borrower's financial lease. At present, our bank only carries out car leasing under the model in which the financial lease company pays the vehicle financing funds directly to car dealers or other vehicle sellers. The maximum loan amount for each client’s car rental loan must not exceed RMB 200,000. The loan tenure shall not exceed 3 years, and an equal monthly installment (EMI) shall be adopted. All loans under the project are guaranteed by the financing guarantee company.

1. Who can apply for a KBank car rental loan?

a. The borrower is 21 years old or above, and less than 60 years old (inclusive);

b. The borrower has a stable, legal source of income and the ability to repay the principal and interest of the loan in full;

c. The borrower is a Chinese resident with good credit;

2. How to apply for a KBank car rental loan?

a. The client and the financial leasing company shall first complete the financial leasing business.

b. The client must submit basic personal information and sign the letter of authorization online to apply for a car rental loan.

c. Once the loan is approved, the funds will be released after binding the bank card, and once loan contract and relevant procedures are completed.

3. How does the borrower of a car rental loan repay the Bank (normal procedure)?

When you sign a loan contract, you need to first bind the bank card. Our bank will automatically deduct the fund on the repayment date from the bank card bound to you during the loan application process. We suggest that you have enough money in your account one day prior to the repayment date of each month.

4. Is prepayment allowed for car rental loan products?

Our bank only allows one-time prepayment, thus partial prepayment is not allowed. If you apply for prepayment with a financial leasing company, our bank will send an SMS to you. The client shall then remit the total amount of prepayment to the account designated by our bank according to the content of the SMS.