Will the student loan repayment be automatically deducted

Yes, it will be automatically deducted. Before the repayment date, the funds to be repaid need to be recharged to the borrower's Alipay account. The Alipay system will deduct the corresponding funds from the borrower's Alipay account on the deduction date and transfer them to the China Development Bank.

The 21st of each month is the Alipay deduction day. Please check your Alipay account balance on the 22nd. If the funds have not been deducted, the repayment will be unsuccessful. If the funds have been deducted, please log in to the loan on the 1st of the following month. The system confirms whether the repayment is successful

1. Short-term loans: within 1 year (including 1 year) is 4.35;

2. Medium- and long-term loans: 1-5 years (including 5 years) ) is 4.75; more than 5 years is 4.90;

3. Personal housing provident fund loans: less than 5 years (including five years) is 2.75; more than 5 years is 3.25.

The loan interest rates of different banks are different, but they are all based on the loan interest rates announced by the central bank. The actual interest rates may rise. Bank loan interest rates can be divided into: short-term loan interest rates, medium and long-term loan interest rates and provident fund loan interest rates. Taking the central bank as an example for detailed analysis:

1. Short-term loans: the loan interest rate for six months (inclusive) is 4.35; the loan interest rate for six months to one year (inclusive) is 4.35.

2. Medium and long-term loans: The interest rate for loans from one to three years (including three years) is 4.75; the interest rate for loans from three to five years (including five years) is 4.75; the interest rate for loans over five years is 4.75 4.9.

3. Provident fund loan: the interest rate for loans under five years (including five years) is 2.75; the interest rate for loans over five years is 3.25.

Loan is a form of credit activity in which banks or other financial institutions lend monetary funds according to certain interest rates and must be returned. Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts. Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.

Principles

The "Three Principles" refer to safety, liquidity and efficiency, which are the fundamental principles for commercial bank loan operations. Article 4 of the "Commercial Bank Law of the People's Republic of China" stipulates: "Commercial banks take safety, liquidity, and efficiency as their operating principles, implement independent operations, bear their own risks, be responsible for their own profits and losses, and self-discipline."

1. Loan safety is the primary issue faced by commercial banks;

2. Liquidity refers to the ability to recover loans within a predetermined period or to liquidate them quickly without loss, satisfying customers The need to withdraw deposits at any time;

3. Efficiency is the basis for the bank's continued operations.

For example, if a long-term loan has a higher interest rate than a short-term loan, the efficiency will be good. However, if the loan period is longer, the risk will increase, the safety will be reduced, and the liquidity will become weaker. Therefore, there must be harmony between the "three natures" so that there will be no problems with loans. Will the student loan be deducted a second time if it is overdue for one day?

Yes. If the student loan is not repaid on time and becomes overdue, the system will still automatically deduct it as long as you repay the debt into the exclusive Alipay account. Student loans from the student's place of origin will be deducted a second time if they are overdue for one day. Loans from the student's place of origin are credit loans. The student and his or her parents (or other legal guardians) are the same borrowers, and both parties bear the responsibility for repayment. If there is an abnormality in the online bank card account, can the student loan be automatically paid?

Student loan is a frequently mentioned type of loan business. If there is a need, users can try to apply. Compared with other loan businesses, the application process for student loans mainly requires local street certification. Many children from poor families can try to apply, mainly to solve the tuition problem.

Will the student loan be automatically deducted again if it fails to be deducted?

After the student loan is failed to be deducted, it will not be automatically deducted again.

If the user fails to repay the initial loan successfully, the lender needs to manually repay the loan. If the deduction fails due to other reasons, the bank will make up the deduction. However, if you want the repayment to be successful, the user needs to ensure that the amount in the personal repayment account is sufficient.

Normally, when repaying a student loan, if it is due to insufficient account balance, the payment will not be automatically deducted. If it is overdue, it will directly affect the student's personal credit report. To put it simply, if the bank fails to deduct the money and the lender fails to pay off the debt in time, it will cause the lender to be overdue.

Student loans are interest-free loans issued by the China Development Bank. If you repay all the loans before graduation, there will be no interest. You do not need to repay them all at once, but you can repay part of them. When applying for student loans, users need to submit university admission notices, family poverty certificates, documents stamped by the village committee or civil affairs office, etc.

After the user applies for a student loan, he or she will begin to repay the principal and interest starting from the fourth year of graduation or graduation. The principal repayment date is the same as the interest repayment date. Those who continue to study for a degree during the repayment period after graduation can continue to enjoy financial discounts while studying in school.