 You may go directly to a nearby SPDB branch and apply for the overseas study loan once you meet the following basics |
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- In case the borrower is the student him/herself, he/she shall have a local permanent residence or other valid local residence certificate where the creditor is located before he/she goes abroad;
- In case the borrower is a directly family relative or spouse of the student in question, he/she shall have a permanent residence or other valid local residential identity from a place that is within the control of the creditor; have a fixed residence, a stable job and income resources and the capacity to repay the principal and interests in due course.
- The borrower shall present an enrollment notice or other valid certification of school recruitment issued by an overseas school in the name of the student.
You shall provide the following documents to the bank |
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- A valid ID card and a certificate of permanent residence.
- A certificate of marital status.
- A certificate of income.
- Valid certificate of enrollment and relevant payment notices (such as the enrollment notice, tuition fee list and so on) issued by the school.
- Loan application form (available at any SPDB branch).
- Other documents required by the bank.
Loan Amount |
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The maximum loan amount shall not exceed the RMB equivalent of the aggregate of the registration fee, tuition fee for each years, living expenses and other necessary expenses specified in the enrollment notice or other valid enrollment certificate issued by the foreign school.
Tenor of the Loan |
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To be set according to overall time span of the study overseas, the borrower's income and the form of guarantee provided and the maximum: 6 years.
Loan Guarantee |
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You should provide one of the following three types of guarantees, e.g. 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).
Repayment |
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Repayment of loan within credit facility shall be made in accordance with SPDB's relevant regulations and stipulations on personal consumption loans.
A borrower shall repay the principal and interests accrued at the due date if the loan has a tenor within 1 year. For loans with a tenor over 1 year, a borrower may choose one of the repayment patterns 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] | | Same principal repayment | Loan principal÷total months number+（loan principal- aggregate repaid amount）×monthly interest rate |
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.
Procedure |
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