In fact, the margin loan will not give the applicant any cash, but just a bank deposit certificate, which proves that you have the required amount of deposit and have the ability to complete your studies. Take the Bank of China as an example. Suppose the school or embassy requires students to provide a deposit of 200,000 yuan, then students can apply to the bank. The premise is that you open an account in China Bank and have a deposit of more than 654.38+00000 yuan for 6 months. Then the bank will contact the relevant guarantee institutions and issue a deposit certificate with a certain maturity of 200,000 yuan for you to fill in the financial statements and visa certificate. The loan interest rate falls by 5% according to the national benchmark interest rate for the same period, and the loan time is determined according to the actual needs of the borrower.
According to the commitment of Bank of China, the margin loan can be processed within 7 working days, without borrower restrictions, quota restrictions, mortgage or guarantee, as long as the interest is deposited in advance. In addition, CITIC Bank also provides margin loan services.
For international students who go abroad, a big difference between deposit loan and study abroad loan is that the deposit certificate is mainly used to apply for a visa, while the study abroad loan is applied after obtaining a visa and confirming that they can go to school. Because some countries, such as the United States, still don't accept the deposit certificate of mortgage loan certificate, banks provide convenience for international students through this business.