Service Features   Products Available   Target Clients   Applicant's Qualifications      Loan Limit
Loan Period   Interest Computation   How to Apply

If you need to further your education, you may apply to China Merchants Bank for education loans (loan on security). Based on their purposes, the loans fall into four categories: loan for tuition and miscellaneous fee, loan for educational reserve, loan for training, and loan for overseas education.

Service Features
1.  Single application with multi-release;
2.  Maximum loan limit may cover 100 percent of education expenditures;
3.  Relatively long period up to 8 years.

Products Available

1.	Loan for tuition and miscellaneous fee: means the loans released to students to pay tuition and miscellaneous fee charged by universities, colleges and other schools; or the loans released to the parents, other lineal relatives, or guardian of students to pay the tuition and miscellaneous fee charged by domestic schools.
2.	Loan for educational reserve: loans released to parents, other lineal relatives, or guardians of students to pay the cost for the students to attend private schools not funded by government budgets.
3.	Loan for training: loans released to people with stable income, or their lineal relatives or spouses to pay tuition and miscellaneous fee for training or continued education.
4.	Loan for overseas education: loans released to the lineal relatives, guardians or spouses of students studying abroad to pay tuition and miscellaneous fee.

Target Clients
These loans can be applied for by educatees at the age of 18 or older, or by their lineal relatives, guardians or spouses; loans for educatees under 18 and loans for overseas education must be applied for by their lineal relatives, guardians, etc.

Applicant's Qualifications

1.	Applicant's must have legal and valid proofs of their Chinese citizenship (resident ID card, local permanent residence registration, or other valid certificate of residence)
2.	Applicant must have full civil rights;
3.	Applicant should have legal employment and stable/reliable sources of income, good credibility, being able to repay the principal and due interest on time;
4.	Applicant should present the offer or letter of acceptance issued by school, as well as proofs of tuition and miscellaneous fees necessary for the whole course.
5.	Applicant must be able to provide assets accepted by China Merchants Bank for mortgage or collateral, or a third party (natural person or legal person) with sufficient capacity to repay the principal and due interest as a joint-liability guarantor;
6.	Applicant must be able to pay a certain proportion of cost for the educatees;
7.	Other requirements deemed necessary by China Merchants Bank.

Loan Limit

1.	Loan for tuition and miscellaneous fee and loan for training are usually no more than RMB100, 000 yuan;
2.	Loan for educational reserve and loan for overseas education are decided by China Merchants Bank according to fee-related proof document issued by the schools as well as the assessment of the mortgage or collateral provided by the applicant. Maximum loan limit may cover 100 percent of a student’s tuition expenditure.

Loan Period
The period of Education Loans are decided by CMB based on the applicant's school attendance and guaranty, but may not exceed 8 years (inclusive).

Interest Computation

1.	Loan interest rates are the same as those for same periods announced by People's Bank of China;
2.	For loans repayment period shorter than 12 months (inclusive), the interest rates remain as defined in loan contracts, even if there is any adjustment to market interest rates;
3.	For loans repayment period longer than 12 months, the interest rates are subjected to annual adjustment, as the bank revises the interest rate for the next 12 months according to the prevalent interest rates for the same repayment periods.
4.	Extension period interest rate and penalty interest rate is set according to the rules of People's Bank of China.

How to Apply
1. Application: Applicant please carries the following documents to the counters of CMB:
·Valid ID proof;
·Original and photocopy of the student card or offer addressed to applicant or borrower's lineal relatives;
·Proof documents of tuition and miscellaneous fee;
·Proof documents of income indicating applicant's ability to repay the loan on time;
·A list of mortgage/collateral, proof of ownership, written consent by the person having disposal rights agreeing to surrender the objects as mortgage/collateral, value assessment issued by competent authorities; 
·Applicant with 3rd-party guaranty should provide written consent of the guarantor and related credibility proofs.
 
2. Examination and Approval: The bank investigates the applicant's guaranty and credibility, examines and approves the application according to a set of rules; the bank informs the applicant the results after all the examinations.

3. Signing of Contracts: Upon approval from the bank, the applicant goes through the following formalities:
·Sign loan contract and relevant guaranty contract with the bank;
·Secure notary, insurance and mortgage/collateral registration.

4. Release of loans