 You can apply for an education loan in our branch once you meet the following requirements |
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- You are of 18 years old or above.
- You have a valid ID card and certificate of permanent residence.
- You have a valid certificate of student and vouchers for tuition payment.
- In case the bank requires guarantee, you shall be able to provide a loan guarantee recognized by the bank.
You shall provide the following documents to the bank |
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- A valid ID card and certificate of permanent residence.
- Certificate of marital status (if applicable).
- Certificate of income (if applicable).
- A valid certificate of student and relevant payment notice or certificates( such as recruitment notice, registration notice, tuition fee list).
- Loan application form (available at any SPDB branch).
- Other documents required by the bank.
Loan Amount |
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The maximum amount of a tuition loan shall not exceed the tuition rate charged by the school (to be based on the tuition list/receipt issued by the school). The maximum amount of a living expense loan shall not exceed the basic living standards at the school.
Loan Tenor |
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If you are an undergraduate in a higher-education institution, the maximum tenor of an education loan granted to you shall be no longer than 4 years upon graduation.
If you are a direct family member or the legal guardian of a student, the maximum tenor of an education loan granted to you shall be no longer than 5 years.
Repayment |
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During period the student in question is at school, the education loan may be repaid on the basis of "first in , first out". The principal and the interests may be repaid in part or as a whole at very short notice. And the interests will be calculated according to the actual period for which the amount of the loan to be repaid has been used.
If the student borrower still has some outstanding loan upon completion of his/her training program, starting from the next month upon the graduation, the outstanding loan balance (with the sum of the outstanding principal and the outstanding interests being the total amount of the loan) shall be repaid by same principal and same interest payment method as follows:
| | Principal and interest to be repaid every month | | Same principal and same interest repayment | total loan amount× monthly interest rate + total loan amount× monthly interest rate÷[（ 1＋monthly interest rate）total months number-1] |
Interest Rate |
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Interest Rate Annualized | | Personal loan for Commercial Housing | | Tenor below 6 months (incl. 6 months) | 5.04% | | Tenor between 6 month to 1 year (incl. 1 year) | 5.31% | | Tenor between 1 year to 3 years (incl. 3 years) | 5.49% | | Tenor between 3 years to 5 years (incl.5 years) | 5.58% | | Tenor above 5 years | 5.76% |
For loans with a tenor below 1 year (incl.1 year), the interests shall be calculated at the fixed interest rate specified in the Loan Contract. Should any regulatory readjustment be made in the interest rates during the loan period, the interest rate for the loan in question shall not be adjusted. For loans with a tenor over 1 year, starting from the first due date in the next year, the interest rate shall be reset once a year, with the first due date each year being the specific day for such rate resetting. Starting from the first due date each year, the regulatory loan rates promulgated by the People's Bank of China on January 1st of the year shall apply. Should any disparity of interest rates occur during the period, the interests shall be calculated separately according to the different rates.
Loan Guarantee |
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We grant clean education loans to full-time students of 18 years old and above, however the school must provide a loan referral and a witness.
We grant secured education loans to direct relatives or legal guardian of a student. The guarantee may come in any one form of the following: mortgage, pledge and warrantee: - Mortgage(namely, to secure the loan with the borrower's proprietary property).
- Pledge (namely, to secure the loan with a Certificate of Term Deposits issued by SPDB or Treasury Bond sold by SPDB).
- Warrantee(namely, to provide a qualified third-party guarantee pursuant to the requirements of SPDB).
Procedure |
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