The most common way of studying abroad loan is to mortgage the property to the bank, so the longest loan period can reach 10 year, and the longer loan repayment period can reduce the overdue risk.
The application conditions are as follows:
1, users who have reached the age of 18 can apply by themselves, and those who have not reached the age of 18 must be accompanied by their families and guardians.
2. Have full capacity for civil conduct and China nationality.
3. There is an admission notice or other valid admission certificate issued by the school studying abroad.
4. Have good credit and no illegal acts.
5. Be able to provide bank-approved real estate mortgage.
Is the loan for studying abroad paid back after work?
Whether to repay the loan for studying abroad after work depends on the loan contract signed by the user. If you sign the repayment after work, you can repay after work.
Most banks agree not to repay loans during students' studies (usually after they finish their studies). Some banks directly set a grace period for repayment, which is generally 1-5 years. During the grace period, the borrower does not have to repay the principal, but only the interest.
The repayment method also depends on the loan term. Usually, the loan term is less than one year, and it is repaid by one-time repayment of principal and interest; However, if the loan term is more than one year, it is generally repaid in the form of equal principal and interest, and you can also choose to pay interest quarterly, semi-annually or monthly. In short, how and when to repay the loan depends on the regulations of the bank.