Brief introduction and process of New Zealand study abroad loan

New Zealand has a well-developed education level and is one of the most beautiful countries in the world. It also has many corresponding advantages in studying abroad. So, do you know anything about the New Zealand study abroad loan? Next, I will give you a detailed introduction.

Introduction of New Zealand Study Abroad Loan

1. Once a New Zealand student loan is obtained, it is one of the factors that must be considered when applying for a student visa that the visa does not require other bank information and deposit records. Sometimes it is difficult for students to prove their financial aid history. It also takes a long time for immigration to review the history of funds. Experts studying in New Zealand pointed out that the loan for studying in New Zealand made it easier for applicants to prove their financial strength, greatly shortened the processing time of the immigration bureau and improved the application efficiency.

If the applicant uses the New Zealand study loan as proof of studying abroad, no other bank proof materials are needed when applying for a visa. However, the Immigration Bureau has the right to require the applicant to provide any necessary documents. For example, Immigration New Zealand will also require applicants to provide proof of their parents' occupation and income. In addition, obtaining a loan for studying in New Zealand does not mean that visa applications can be automatically approved.

2. The minimum loan period is 3 years, and special circumstances can be handled in advance. As far as the loan amount can be applied, students who are directly pursuing degrees or other higher education courses can apply for a loan of 300,000 yuan; Other applicants who want to learn English, plus students with basic courses and diploma or degree courses, can apply for a loan of 50 million to 600,000 yuan. Most applicants need a loan of at least 500,000-600,000 RMB. If the cost of students planning to study in New Zealand is less than 300,000 RMB, the New Zealand Immigration Bureau suggests that students use their own funds as proof of financial ability, especially for students planning to study only for short-term courses or studying in New Zealand for less than three years, the minimum loan requirement is three years. Parents and applicants can choose a loan term of 3-6 years. As far as repayment requirements are concerned, the applicant can repay the loan monthly, quarterly or annually. Only when students finish their studies ahead of time or terminate their studies are they allowed to repay in advance. Applicants must apply for a confirmation letter from the New Zealand Immigration Bureau that issued the visa. Then they can use this letter to pay in advance at the bank. Only when Immigration New Zealand confirms that the applicant has terminated his studies can the bank allow early repayment.

New Zealand study abroad loan guide:

1. Analysis of the reasons why New Zealand Immigration Bureau launched the loan for studying abroad. Immigration New Zealand launched the study loan to make it easier for China citizens to apply for student visas to study in New Zealand. Generally applicable to China applicants who plan to study in New Zealand for more than 65,438+02 months. On the one hand, studying abroad loan provides a new way for applicants to prove their financial ability (in-kind loan/in-kind loan), on the other hand, it also makes visa application more convenient.

2. What kind of people can apply for study abroad loans? Legal China applicants can prove that they have the ability to pay for studying in New Zealand through studying abroad loans, but like other loan forms, they also have certain requirements for the lender's integrity, and at the same time, they should examine other conditions and economic conditions of the lender.

3. At present, all domestic banks that provide loans for studying abroad have this service. At present, only CITIC Industrial Bank and China Bank provide this service, and these two banks provide this service in more than 20 city outlets.

4. Is the loan for studying abroad the same between CITIC Industrial Bank and China Bank? The loan requirements and interest amounts of the two banks are different, but there is no difference in the purpose of applying for studying in New Zealand.

5. What is the loan amount that a third party can apply for? The minimum loan amount of CITIC Industrial Bank's study abroad loan is RMB 300,000, the loan term is 3 to 6 years, and the loan mortgage method is bank deposit. Applicants can repay the loan on a monthly, quarterly or yearly basis according to the requirements of the bank, and can only repay the loan in advance if the students finish their studies or terminate their studies in advance. The minimum loan for studying abroad in China Bank is 200,000 yuan, and the loan term is 1 to 6 years. The loan mortgage method is bank deposit, saleable assets and third-party guarantee.

6. What are the repayment requirements? If the loan period for studying abroad is less than one year (including one year), the principal and interest of the loan will be paid off in one lump sum when the loan expires, and if the loan period is more than one year (excluding one year), the principal and interest of the loan for studying abroad will be repaid by equal monthly repayment. Specifically, the applicant is required to repay the loan according to the requirements of the bank. Only when students finish their studies ahead of time or terminate their studies are they allowed to repay in advance. The applicant must apply to the New Zealand Immigration Bureau where the visa is issued for a letter of proof, and then he can use this letter of proof to go to the bank for early repayment. CITIC Industrial Bank and Bank of China are only allowed to repay in advance if they confirm to the New Zealand Immigration Bureau that the applicant has terminated his studies.

If you use the loan for studying abroad, what is the operation process?

Step 1: The applicant (or his parents) directly applies for a loan from CITIC Industrial Bank. CITIC Industrial Bank has prepared a special application form for this purpose. CITIC Industrial Bank gives priority to its depositors and is willing to serve those who transfer funds to the bank. According to the policy of CITIC Industrial Bank, if the applicant provides sufficient guarantee, the bank can also issue loans.

Step 2: CITIC Industrial Bank will review the loan. CITIC Industrial Bank requires that the applicant's deposit in the bank be frozen, and the deposit amount should be at least 10% more than the loan amount. These deposits also bear interest. As mentioned above, if CITIC Industrial Bank determines that the applicant has sufficient guarantee according to the bank's loan policy, it can also issue loans.

Step 3: If the application is approved, CITIC Industrial Bank will issue a Letter of Loan for Studying Abroad to the applicant or his parents. Please note that if the applicant has deposited in CITIC Industrial Bank when applying for a loan, he can issue the Notice of Studying Abroad Loan when applying.

Step 4: Next, the applicant can submit the visa application together with the notice of studying abroad loan to the New Zealand Immigration Bureau.

Step 5: The New Zealand Immigration Bureau processes the visa application (which may include verifying the Letter of Loan for Studying Abroad). If all documents meet the requirements, it will inform the applicant that his visa has been approved in principle.

Step 6: The applicant takes the original visa application and approval letter to the bank to fill out a special application form and start studying abroad loans. CITIC Industrial Bank will issue a "credit certificate for personal study abroad loan" to prove that the loan has been started. Note: If the applicant cancels the visa application or the visa application is rejected, the New Zealand Immigration Bureau will notify the applicant in writing. Applicants can take this notice to tell the bank that they no longer need a loan.

Step 7: The applicant submits the original "Credit Certificate for Personal Study Abroad Loan" and the approval letter to the New Zealand Immigration Bureau, and the Immigration Bureau will complete the final formalities. Note: If there are no special circumstances, the original loan documents will be filed by Immigration New Zealand.

Step 8: If the applicant has completed his studies in New Zealand before the end of the loan period, he can contact the New Zealand Immigration Bureau to issue a certificate to prove that he has completed his studies. After the New Zealand Immigration Bureau issued this letter, applicants can use this letter to ask CITIC Industrial Bank to unfreeze their funds.