The millions of deposits and hundreds of thousands of study fees have caused many families to face the problem of insufficient funds for studying abroad. For this reason, most parents choose to apply for a study loan from a lending institution in order to allow their children to study abroad. Then, what is the interest rate of the individual study abroad loan? How to calculate the
personal study loan refers to the loan institution's payment to the overseas students or their immediate family members or their spouses, which is used to pay the tuition fees and basic living expenses for overseas students. personal loan.
As for the interest rate of individual study loans, how to calculate? How much is the loan amount, and how long the loan period is. It is reported that the maximum loan amount for individual study abroad shall not exceed the sum of the registration fees, the tuition fees, living expenses and other necessary expenses for the annual enrollment notices or other valid admission certificates. In general, the higher the loan amount, the more the loan interest rate.
In addition, the loan period for individual study loans is generally one to six years, and the maximum period is no more than ten years (including ten years). Different loan years, the corresponding interest rate for individual study loans is different, the shorter the age, the less interest.
Under normal circumstances, if the legal interest rate adjustment is encountered, the loan period is within one year (including one year), and the interest rate is calculated at the contract interest rate; the term is more than one year, the interest rate is fixed for one year, and the bank is adjusted according to the next interest rate determination date. After the interest rate is executed; if the loan is overdue and the extension is not approved, the interest will be charged according to the overdue loan interest rate stipulated by the bank.
Of course, in the case of applying for individual study loans in different applicants, the specific rules for interest rates for individual study loans are different. Therefore, individuals who have a study loan requirement should preferably confirm the relevant matters to the lending institution of their choice.