Industrial Bank, located in Beijing Economic-technological Zone, recently launched a mortgage loan product for home owners in urgent need of money, with temptingly low interest rates.

The product targets home owners who have paid in full for their houses, while in need of money.

Industrial Bank lowered the threshold for mortgagees. Home owners can apply for the loan within three years of getting the property ownership certificate. The interest rate ranges from 115 percent to 120 percent of the benchmark rate.

Applicants can get approval within two days if qualified for the mortgage loan.