Under what circumstances do you need proof of income?

When applying for loans, whether personal loans or corporate loans, financial institutions need to evaluate the borrower's repayment ability.

Secondly, when handling credit cards, banks need to verify the applicant's financial status to ensure that the applicant has sufficient repayment ability. Therefore, applicants need to provide proof of income to prove their income level, which is helpful to obtain higher credit limit or more favorable credit card conditions.

In addition, when applying for a visa or immigration, some countries or regions require applicants to provide proof of income to prove that they have sufficient economic ability to live abroad and pay related expenses. This helps to ensure that the applicant will not become a financial burden to the receiving country, and helps to obtain a visa or immigration approval.

In addition, when renting or buying a house, landlords or developers usually need the lessee or buyer to provide proof of income to assess their ability to pay rent or mortgage. This helps to ensure that tenants or buyers can pay the relevant fees on time and maintain the stability of the lease or purchase relationship.

Finally, when handling some businesses that need to prove their financial situation, such as withdrawing provident fund and paying social security, they also need proof of income. These businesses usually involve personal rights and economic interests, and it is necessary to provide income proof to prove personal economic status.

To sum up:

When applying for a loan, handling a credit card, applying for a visa or immigration, renting or buying a house, and handling other businesses that need to prove one's financial situation, proof of income is essential. In these cases, providing proof of income helps to evaluate the repayment ability, economic situation and payment ability of individuals, thus helping to obtain corresponding services or rights.

Legal basis:

People's Republic of China (PRC) Commercial Bank Law

Article 35 provides that:

Commercial banks should strictly examine the borrower's loan purpose, repayment ability and repayment method. Commercial bank loans shall be subject to the system of separating loan review from grading approval.

People's Republic of China (PRC) Civil Code

Article 1 1 1 stipulates:

Personal information of natural persons is protected by law. Any organization or individual who needs to obtain other people's personal information shall obtain and ensure the information security according to law, and shall not illegally collect, use, process or transmit other people's personal information, or illegally buy, sell, provide or disclose other people's personal information. As a part of personal information, proof of income should be provided to ensure legal compliance and protect personal privacy.