China Hana Bank Launches Ctrip Mobile Loan... Borrow Up to 150,000 Yuan

[Asia Economy Reporter Minyoung Kim] Hana Bank's Chinese subsidiary, Hana Bank China Limited, has partnered with Ctrip, China's largest and the world's second-largest online travel platform, to launch a mobile loan product.

Hana Bank announced on the 11th that China Hana Bank is the first foreign bank in China to launch the 'Jiequihua' loan product in collaboration with Ctrip.

This product offers small, short-term consumer finance services similar to credit cards to individual customers using Ctrip's mobile platform. It particularly utilizes Ctrip's customer big data based on travel-related consumption patterns such as hotel and flight reservations for credit evaluation, thereby enhancing risk management and expanding the digital customer base.

Applications and credit limits can be checked on the mobile loan screen of the Ctrip platform, and after a few clicks for setting the loan amount, term, and confirmation, the funds are immediately deposited into the applicant's account.

The loan limit ranges from 2,000 yuan to a maximum of 150,000 yuan depending on creditworthiness. The interest rate is between 10% and 24% per annum, with no prepayment penalty within one year, allowing free repayment and withdrawal at any time.

Lim Young-ho, President of China Hana Bank, stated, “We will contribute to Hana Financial Group's global digital transformation through further development of business with Ctrip and active partnerships with leading Chinese ICT platforms.”

Meanwhile, China Hana Bank previously partnered with Alibaba’s Ant Technology (Ant Financial) to launch the mobile loan product 'Maijiebei' last year, achieving a balance of 2 billion yuan (approximately 340 billion KRW) and a cumulative transaction amount of 7.74 billion yuan (approximately 1.3 trillion KRW) within one year of launch.

This content was produced with the assistance of AI translation services.