The loan for studying abroad refers to the foreign exchange consumption loan issued by the bank to overseas students or their immediate family members or spouses to pay tuition and fees and living expenses for studying abroad. The loan amount for studying abroad shall not exceed the sum of the registration fee, tuition, living expenses and other necessary expenses within one year specified in the admission notice or other valid admission certificates of foreign study schools, and the maximum amount shall not exceed RMB 500,000. Loans for studying abroad can be unsecured mortgage loans (new loans) and unsecured personal loans for personal consumption. Just provide the application materials: ID card, proof of income, proof of work and proof of loan use.
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According to the relevant personage of Guangfa Bank, there are generally two loan methods to choose from when handling the loan for studying abroad in Guangfa Study Abroad Financial Center: one is the mortgage loan for valuables such as house mortgage, and the loan amount can generally reach 60% of the assessed house price; The second is unsecured credit loan, with a maximum loan of 500,000 yuan, which can be obtained only by family credit, but the lender generally requires local permanent residents. Generally speaking, the loan period is generally 6 months to 5 years.
The interest rate of general study abroad loans is the same as that of RMB loans of the same grade stipulated by the People's Bank of China. However, in some banks, students have the opportunity to apply for preferential interest rates for RMB loans of the same grade.
If the customer can't repay the loan due, the bank will generally take different measures according to different loan methods. If mortgage loans and unsecured credit loans are adopted, they will be collected according to the general provisions of the bank on repayment default. In reality, most families will repay their loans in advance and only need to pay several thousand yuan in loan interest.
Borrower conditions
The borrower must meet the following seven conditions:
1. The borrower has full capacity for civil conduct, and the actual age of the loan due date is no more than 55 years old;
2. The borrower has no violation of laws and regulations, is healthy, and is honest and trustworthy;
3. If the borrower is an overseas student, he should have a permanent residence or other valid residence status at the lender's place before studying abroad;
4. If the borrower is an immediate family member or spouse of a student studying abroad, he should have a permanent residence or other valid residence status in the area controlled by the lender, have a fixed residence, have a stable occupation and income source, and have the ability to repay the principal and interest on schedule;
5. The borrower shall hold an admission notice or other valid admission certificate issued by the school where the student intends to study abroad;
6. The borrower shall provide property mortgage, pledge or third-party guarantee recognized by the lender. Mortgaged property is currently limited to mortgaged property; Pledged goods are currently limited to government bonds, bank certificates of deposit, corporate bonds and other securities; The guarantor shall be a legal person or natural person with compensatory ability, and be willing to bear joint and several liability for repayment; 7. Meet other conditions stipulated by the lender.
The starting point of a single study abroad loan of CITIC Industrial Bank is not less than 65,438 yuan+0,000 yuan, and the maximum is not more than 2 million yuan. According to the specific purpose of the loan, it is determined by the borrower and the borrower through consultation, generally not exceeding five years. The loan currency of China Bank Beijing Branch is USD foreign exchange, which does not exceed 80% of the borrower's tuition, miscellaneous fees and living expenses, and does not exceed USD 40,000. The longest loan period is 6 years and the shortest is 6 months.
Limit of overseas loan for studying abroad
The starting point of a single study abroad loan of CITIC Industrial Bank is not less than 65,438 yuan+0,000 yuan, and the maximum is not more than 2 million yuan. According to the specific purpose of the loan, it is determined by the borrower and the borrower through consultation, generally not exceeding five years. The loan currency of China Bank Beijing Branch is USD foreign exchange, which does not exceed 80% of the borrower's tuition, miscellaneous fees and living expenses, and does not exceed USD 40,000. The longest loan period is 6 years and the shortest is 6 months.
Repayment of study abroad loan and calculation of interest rate
There are several ways to repay the loan principal and interest of CITIC Industrial Bank: 1. Equal repayment, that is, the total amount of principal and interest in each period of the loan is fixed. Two. Matching principal repayment, that is, the amount of principal repaid in each period is the same, and interest is calculated according to the current loan balance. 3. Equal-ratio incremental repayment, that is, the annual debt service amount is increased by a certain proportion on the basis of the previous year's debt service amount. Four, equal proportion of diminishing repayment, that is, the annual debt service amount is reduced by a certain proportion on the basis of the previous year's debt service amount.
Interest rate of China Bank's foreign exchange loan for studying abroad: if the loan term is within one year (including one year), the fixed interest rate will be implemented; If the loan term is more than one year, the floating interest rate will be implemented from the date of loan issuance and adjusted once every six months.
The loan interest rate of CITIC Industrial Bank: it shall be implemented according to the loan interest rate grade and floating range published by the People's Bank of China. When the People's Bank of China adjusts the loan interest rate, the new interest rate will be implemented from the next repayment period when the People's Bank of China adjusts the loan interest rate.
How to guarantee the loan for studying abroad?
In order to reduce the risk of loans and ensure the repayment of loans, banks generally require guarantees.
The types of loans guaranteed by China Bank Sichuan Branch are: real estate mortgage-the mortgage rate does not exceed 60% of the assessed value; Pledge of certificates of deposit and government bonds-the bank where certificates of deposit and government bonds are opened must be China Bank Beijing Branch, and the pledge rate shall not exceed 90%; Third-party joint and several liability guarantee-The borrower and the guarantor must have permanent residence in Beijing, and the guarantor is limited to the borrower's parents and must not be over 60 years old. Ensure that the repayment amount does not exceed 50% of the monthly income, and the monthly income must have a personal income tax payment certificate of not less than three months.
CITIC Industrial's loan for studying abroad is divided into pledge and real estate mortgage. Pledges are the bank's local and foreign currency time deposit certificates and voucher-type government bonds issued by CITIC Industrial Bank. The pledge guarantee shall meet the following conditions: the maturity date of pledge or transfer is later than the maturity date of loan, and the maturity date is earlier than the maturity date of loan, which can be handled separately. Property mortgage stipulates that the collateral is the mortgaged house that the borrower or the third person (natural person) has the right to dispose of.