What does it mean that Bank of Ningbo financial management can be pledged?

Financial pledge refers to a kind of credit business that takes the income right of local and foreign currency financial products sold by the bank under my name as collateral, obtains RMB loans from the bank, and repays the loan principal and interest at maturity. Mortgage with bank wealth management products has nothing to do with the yield of bank wealth management products. After the pledge, it will also invest in accordance with the previous contract to obtain income.

Financial pledge loan process:

1. Signing the subscription book: the applicant signs the subscription book with the real estate development company that has signed the contract with the bank and pays the down payment to the real estate development company;

2. Application: The applicant applies for mortgage at the law firm entrusted by the bank, including submitting personal data, paying various fees and filling out legal documents;

3. Loan review: the law firm conducts a preliminary review of the applicant's application, and then the bank approves it. If it fails to pass the examination, it shall return the information and the fees charged;

4. Other legal procedures: the law firm handles the insurance, notarization and mortgage registration of collateral;

5. Loan issuance: The bank will transfer the loan amount to the developer's account and notify the customer to start mortgage payment.