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  Home Page > Personal Banking >Cross-border Financial Services >Personal Loan for Overseas Study
Overseas Study Loan

ICBC personal loans are "happy loans for happy life". ICBC is dedicated to provide top-quality and highly efficient loan services for you in case of need, for your better life or opening business. While you are traveling or staying abroad, ICBC personal loan is your reliable source to cover your expenses. Different loans (consumer loan, pledge loan, housing mortgage loan) can be applied under pledge, collateral or guarantee. Among the personal loans, overseas study loan is a loan for students to pay all the necessary expenses while studying abroad. The service aims to prove financial support to the students.  

☆ Introduction
Overseas study loan is a loan released by the lender to the borrower for paying the necessary expenses of his/her or related person while studying abroad, or a RMB loan for the proof of deposit/loan for overseas study. Depending if the borrower is allowed to draw the loan, the overseas study loan can be for "drawdown" or "non drawdown". Overseas study loan for drawdown is mainly used for covering actual expense including tuition fee, miscellaneous fee and living expenses. Overseas study loan not for drawdown is the security deposit required by the foreign embassy when the student or his/her related person applying for visa (student visa /visa for staying with the student to study). The loan amount is in "frozen" status during the loan period. The borrower cannot draw the loan (except the loan is pledged under ownership certificate).

☆ Features and Advantages
1. Long loan tenure: up to 10 years.
2. Different guarantee options: The overseas study loan for drawdown can be guaranteed under house mortgage or pledged under ownership certificate. The overseas study loan not for drawdown can be guaranteed under house mortgage, ownership certificate or guarantee produced by guarantee company recognized by ICBC.
3. Flexible drawdown option: the loan can be released one-time during application, or in different periods according to the payment periods of the tuition fee, accommodation fee, living expenses.
4. Complete service after the loan: Once the loan is released, ICBC will offer services such as buying foreign exchange or traveler cheque using the loan amount or for cross-border outward remittance. If ICBC has branches in the country/region where you go for study, you can open account in ICBC overseas branches via ICBC branches in China. ICBC will supply the addresses of the overseas branches and details about the financial services available

☆ Target Client
Students going abroad to study, or their spouses, parents and children. If the student is under 21 years old, the guardian acts as borrower on behalf. Borrower should not have any bad record.

☆ Service Channel
ICBC outlets with loan service available.

☆ Operation Guide
To apply for overseas study loan, the applicant should submit the following:
1. Valid identity documents of the borrower, student, pledgor, including ID card, permanent resident booklet, the original of other valid permanent residency document.
2. Proof of the relation between borrower and the student.
3. Proof of income of the borrower or family members.
4. The admission letter of the school, documents issued by the school about the tuition fee, accommodation fee, living expense, or documents to prove the borrower studying in the school and the miscellaneous fees (tuition fee, accommodation fee, living expense).
5. When using property as the collateral (pledge), submit the ownership certificate and the written commitment signed by the owners (including co-owners) of the property to agree to use the property as the collateral (pledge). Submit valuation report on the collateral issued by the organization recognized by the lender and submit ownership certificate for the pledge.
6. The borrower and guarantor should submit and sign written authorization in front of ICBC and agree ICBC to check his/her personal credibility.
7. Other documentary proof and material stipulated by the lender.

The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.