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About Loan Program
A1: When the deposit interest rate is 3.75% or less, a special loan rate will be applied from the first day of the third month after the deposit rate has been revised. For example, when the deposit interest rate was revised on the 15th of March, the revised loan rate will become effective on the 1st of June, and accordingly your monthly repayment will change from the month of June. We will notify your school in advance in paper when there is any change in the repayment. We will also notify you through your school office with the Individual Repayment Schedule (Form 5) in the month before the month of repayment change.
A2: You cannot have more than one loan of the same category at one time. You could, however, pay off the current loan balance to newly apply for a General loan, or refinance the current loan, by which we could remit the remaining balance of the new loan after deduction of the unpaid balance of the current loan.
A3: For voluntary repayment of partial balance, submit the “Request Form for Voluntary Loan Repayment / Group Credit Life Insurance Withdrawal” by specifying the amount you wish to repay. Upon receipt of the form, we will send your school office the “Voluntary/Immediate Loan Repayment Advice” referring to the amount repayable not exceeding the amount you have specified. Remit the amount through your school office using the money-transfer slip enclosed by the designated due date.