On January 8, 2016, ICBC formally launched ICBC e-Buy “Instant Loan”, an online housing mortgage loan product, making it the first bank in the industry to provide full-suite mortgage loan service including online application, online approval, online lending and online tracking for customers. The product provides customers with brand-new house purchase experience. On the day e-Buy “Instant Loan” was launched, one owner of Vanke Shenzhen Park project obtained the first online mortgage loan through the innovative service.

Customers usually need to go back and forth between real estate developers and banks to fill out various forms and documents, requiring significant time while unconducive for developers to handle housing formalities for customers and recover sales accounts receivable. Therefore, ICBC launched online mortgage service featuring simple procedures, quick lending and preferential interest rate based on its leading big data application and e-Buy platform. To apply for the online mortgage loans via the ICBC e-Buy platform, customers only need to fill out necessary information, while most other information can be automatically processed by the Bank based on the big data through system. After loans are approved, customers may experience one-stop application, face-to-face signing for one time and completion in two steps after uploading necessary photocopies. Such loans can be granted within 24 hours at the earliest. Also, ICBC returns the saved cost to buyers, providing them with more preferential interest rate than the interest rate of offline loans.

By integrating its strengths in finance, customer base and online and offline channels with the advantage of property developers in housing source, ICBC has successfully established the one-stop “internet + real estate + finance” housing purchase mode since it formally launched real estate e-commerce service in early 2015，providing customers with convenient and cost-effective housing consumption services. So far more than 40 branded domestic real estate developers, including Vanke, Evergrande Group, Greentown, Shimao Property and R&F Properties, have joined the ICBC e-Buy platform, covering more than 600 house property projects in over 100 cities nationwide. In 2015, 15,000 apartments were sold via ICBC e-Buy platform, with a total trading amount of over RMB 20 billion.