liuxue86.com provides comprehensive coverage of overseas study-related news for international students: "Three tips for "those with poor money" to go abroad to apply for a deposit for studying abroad," reported by the Beijing Morning News on April 11.

For every family who intends to study abroad, March and April are the busiest times every year. The deposit for studying abroad is the “top priority” of studying abroad. Countries have different standards for the amount and deposit period of study abroad deposits. If the "money poor" do not have enough deposit or the funds do not meet the deposit period requirements stipulated by the embassy, ??they can apply for a study abroad deposit through three channels: banks, pawn shops and study abroad agencies.

Bank:

"Loan less, borrow more" to issue a certificate

Another type of study abroad deposit loan is "Loan less, borrow more". This kind of loan Parents only need to deposit a loan deposit in the bank at a ratio of 8% to 20% of the loan amount. No mortgage or pledge is required. However, after the loan is issued, it can only be deposited in the bank for issuance of deposit certificates and cannot be withdrawn. Bank financial planners said that the loan period for study abroad deposits is generally 1 to 3 years, with the minimum being no less than 3 months and the longest being no more than 5 years. The loan interest rate is based on the same RMB personal loan interest rate of the People's Bank of China.

Pawn shops:

Fast and high fees

Due to the simple and fast loan procedures, pawn shops’ study abroad study deposit business has also been favored.

Since he has spent most of his savings to raise tuition and living expenses, Mr. Li, who plans to send his son to study abroad in Singapore, has been having trouble proving the 200,000 yuan, three-month study abroad deposit. After being introduced by a friend, he pawned a house worth 1 million yuan where he lived and obtained a 200,000 yuan fund certificate. Moreover, during the period of pawning the house, Mr. Li did not need to move elsewhere.

The reporter learned from Baoruitong Pawn Shop that the number of customers seeking pawn services for studying abroad has increased rapidly. The pawn shop’s recent study abroad deposit business has increased by 30% compared with the same period last year. Dong Yi, chief operating officer of the pawn shop, said that families who can provide their children with study abroad have certain financial conditions, but due to the large initial investment, the deposit makes it difficult for some families who lack cash flow to cope.

Yang Jingkun, deputy general manager of Huaxia Pawn Shop, said that most of the customers who go to the pawn shop to handle related business are "not short of money." For example, some customers are just holding stocks or their funds are temporarily used for other purposes. They just need Temporary turnover of short-term funds.

Simple and fast loan procedures are a major advantage of pawn shops. Taking real estate pawns as an example, it only takes one day at the fastest from the time a customer applies for mortgage financing to the issuance of a certificate of deposit. Customers can choose the financing method that suits them based on the characteristics of different types of properties, such as real estate, cars and personal goods.

Depending on the type of pawn, the interest fees that customers need to pay are also different. The lowest is for real estate pawns, with a monthly interest fee of 2.5% to 3%; the highest is for civilian pawns, with a monthly interest fee of 2.5% to 3%. is 4.7%. This means that compared with banks, the interest rate for study abroad deposit loans through pawn shops is higher. In addition, pawns require a one-time repayment of principal and interest, and since visa processing often takes longer than expected, it may exceed the originally booked period. Therefore, when the current period expires, pawn shops will let customers choose whether to renew the pawn or repay directly. If the loan is renewed, the interest may not be settled temporarily and will be calculated together when the loan is redeemed. In order to reduce the burden on customers, the renewal time can be selected as a minimum period of 15 days.

Intermediaries:

Low threshold and risky

Some intermediaries can also handle deposits for studying abroad. The reporter saw on a certain deposit certificate website that the website stated that no proof of funds or deposit was required, and it could be processed on-site. After getting the certificate of deposit, you need to pay a certain fee to the intermediary agency. Taking the issuance of a three-month deposit certificate of 100,000 yuan as an example, the customer needs to pay a fee of 3,000 yuan.

The threshold for applying for this type of deposit certificate is low, but most "study abroad" people will not choose this method to apply for a study abroad deposit. Industry insiders say that proof of funds must be authentic and credible, and do not commit fraud. If the visa officer finds out in person that your deposit receipt or certificate of deposit is forged, you may be permanently rejected.

Morning News reporter Chen Qiong

Comparison of study abroad deposit loan business

Loan method provides item fee processing time

Real estate pawn real estate monthly interest rate 2.5% to 3% The fastest is 1 day

The monthly interest rate for car pawns is 3% to 4%. The fastest is 1 hour

The monthly interest rate for private pawning of jewelry, jewelry, gold, etc. is 4.7% Immediately

The intermediary agency does not charge a one-time charge of 3,000 yuan to 7,000 yuan for 3 days