1, the national student loan interest rate is implemented in accordance with the statutory loan interest rate announced by the People's Bank of China and the relevant national interest rate policies, and does not rise. The current annual loan interest rate is: one to three years (inclusive): 5.76%; Three to five years (inclusive): 5.85%; More than five years: 6. 12%.
2. If the loan is repaid in advance, the handling bank will calculate the interest according to the actual term of the loan, and will not charge any other fees except the interest payable. Interest = loan amount * corresponding annual interest rate * loan days /365. Simply put, you don't have to pay interest when you are still in college before you graduate within one year. Wait until the interest rate is 0.5% one year later, and then repay the loan at the bank or branch.
According to the national student loan policy, college students who apply for student loans do not need to pay interest during their normal study at school, but they have to bear the loan interest from September of the graduation year 1. The actual situation is subject to the local official notice.
Calculation formula of average capital: monthly repayable principal = total loan ÷ repayment period; Monthly interest payable = residual principal × monthly interest rate; Monthly repayment amount = monthly principal payable+monthly interest payable.
Calculation formula of equal principal and interest: monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate) × repayment periods ]=[( 1+ monthly interest rate) × repayment periods]. Where the monthly interest rate = annual interest rate ÷ 12.
2023 college student loan application process:
1. Apply for a loan. Eligible college students log on to the "Student Online Service System", find the "Loan Application", click "Add", fill in the information, export and print the "Application Form for Student-origin Student Loan of China Development Bank".
2. Qualification examination. If it is the first time to apply for a loan, you need to hold the application form to any unit of high school, village (neighborhood) Committee and township (street) civil affairs department for qualification review and build official seal. If it is a loan renewal, there is no need to review it. You can go directly to the county-level funding center for loan renewal procedures.
3. Sign a loan contract. After the seal, the college students and * * * together with the borrower carry relevant materials to the county-level rescue center for loan procedures.