Sina Launches Study Abroad Installment Loan Product
Sina Tech, 6/08/16
Chinese internet company Sina (Nasdaq: SINA) recently launched a new study abroad installment credit service product, (Sina Liuxue Fenqi).
The product is currently being tested in Beijing, Shanghai, and Guangzhou and is expected to be available in more than 10 first- and second-tier cities throughout China by the end of the year.
A representative for Sina Liuxue Fenqi said that the product is aimed at middle- and lower-income households with students who are interested in studying abroad, but who are unable to make a full one-time payment covering all academic fees and living expenses. The product can be used for tuition and living expenses for undergraduate and graduate study programs. Applicants can contact the service online or by phone to apply for a loan. The loans have no maximum size limit, may be paid back across up to 60 installment periods, and may be repaid using either USD or RMB.
A representative for Sina Liuxue Fenqi said that the program plans to offer additional overseas installment payment services in the future.
Keywords: financial services Internet Sina online lending installment plan
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