According to the inquiry of Fawang Express, according to the Contract Law of People's Republic of China (PRC), electronic contracts and written contracts have the same legal effect. Therefore, it is valid and legally binding for the borrower of bank loan to sign on the mobile phone.

When signing a mobile phone, it should be noted that before signing a contract, the identity of the signer should be ensured to be authentic, and the signing process should meet the relevant requirements of electronic signature, such as the time and place of signing, which need to be recorded to prove the validity of the contract in the future.