1. If the borrower fails to repay the loan principal within the time limit stipulated in the contract, it shall apply to the handling bank for extension at least 30 working days in advance, and the handling bank shall decide whether to extend the loan according to the situation. After the application for extension is approved by the handling bank, the borrower and the lender shall sign an extension agreement. The extension agreement shall be agreed in writing by the mortgagor (pledgee) and the guarantor, and the mortgagor (pledgee) shall go through the extension registration and insurance procedures.

2. Deferred loans are limited to one time. The extension of the foreign exchange study loan within one year (inclusive) shall not exceed the original loan term, the extension of the foreign exchange study loan from one year to five years (inclusive) shall not exceed half of the original loan term, and the extension of the foreign exchange study loan for more than five years shall not exceed three years. After the extension, the loan period shall not exceed the maximum loan period stipulated in the foreign exchange study loan.

3. When the loan extension period and the original term reach the new interest rate term grade, the loan interest will be calculated and collected at the new term grade interest rate from the date of extension.

4. If the borrower fails to repay the loan principal within the time limit stipulated in this contract, it shall apply to the lender for extension 30 working days in advance, and the specific extension conditions shall be implemented according to the relevant documents of Bank of China. After the application for extension is approved by the lender, the borrower and the lender shall sign an extension agreement. The extension agreement shall be agreed in writing by the mortgagor (pledgee) and the guarantor, and the mortgagor (pledgee) shall go through the extension registration and insurance procedures. Deferred loans are limited to one time.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

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