What? You still don't know, on September 14, 2020, China Development Bank issued the Announcement on the Conversion of the Pricing Benchmark of National Student Loans in China Development Bank, and the conversion of the pricing benchmark of national student loans in China will be started from now on. How to convert the pricing benchmark of China Bank's mobile banking stock student loan?

How does the mobile banking of Bank of China change the pricing benchmark of existing student loans?

1 Open and log in to Bank of China Mobile Banking on your mobile phone, click Loan on the home page or find a loan in More;

2 Click to convert the LPR interest rate, and after entering, select the national student loan that meets the conversion conditions under my name for conversion;

3 Select the interest rate conversion method as LPR floating interest rate or fixed interest rate through the drop-down box. Read and check the change confirmation, and then click Next;

4 The conversion is completed after being verified by security tools.

Since the national student loan is issued once every academic year, it is necessary to convert each loan separately. In other words, after the conversion of a loan is completed, it is necessary to continue to convert the next national student loan.

Finally, if you choose LPR, it will become 4.5% immediately after conversion, interest will start to accrue, and the repayment amount will be reduced next month. But it is not static, and the future repayment depends on the trend of LPR; If you choose a fixed interest rate, the loan interest rate will always be 4.5% until the loan is settled.