What is the interest rate on college student entrepreneurship loans?
The interest rate on college student entrepreneurship loans is generally based on the benchmark interest rate announced by the People's Bank of China. However, you can apply for an interest rate discount when taking a loan. Generally, banks will lower the interest rate by about 20 to encourage entrepreneurship. Some local governments also provide interest discounts for college student entrepreneurship loans. Generally speaking, the interest rates for college student loans to start a business are relatively low. In 2018, the benchmark interest rates (annual interest rates) for various types of loans stipulated by the People's Bank of China are related to the loan term, of which within one year (including one year) is 4.35, from one to five years (including five years) is 4.75, and for more than five years is 4.90; the term of college student entrepreneurial loans is generally 1 year, and the longest will not exceed 3 years. Entrepreneurship loans for college students are generally open to fresh graduates or students within two years of graduation, with a college degree or above, and must be over 18 years old. Applicants must have good credit, which is a prerequisite for applying for entrepreneurial loans for college students. College Student Entrepreneurship Loan Process: The borrower applies to the College Student Entrepreneurship Management Service Center and submits relevant materials at the same time. At this time, the management center will conduct a preliminary review. After the borrower passes the preliminary review, it will be reviewed. Once passed, it will be announced. There is nothing Loans are disbursed after the issue.
1; The "Three Principles" refer to safety, liquidity and efficiency, which are the fundamental principles of commercial bank loan operations. Article 4 of the "Commercial Bank Law of the People's Republic of China" stipulates: "Commercial banks take safety, liquidity, and efficiency as their operating principles, implement independent operations, bear their own risks, be responsible for their own profits and losses, and self-discipline."
1. Loan safety is the primary issue faced by commercial banks;
2. Liquidity refers to the ability to recover loans within a predetermined period or to liquidate them quickly without loss, satisfying customers The need to withdraw deposits at any time;
3. Efficiency is the basis for the bank's continued operations. For example, when issuing long-term loans, the interest rate is higher than that of short-term loans, and the efficiency is good. However, if the loan period is long, the risk will increase, the safety will be reduced, and the liquidity will become weaker. Therefore, there must be harmony between the "three natures" so that there will be no problems with loans.
2. The occurrence of loan risks often begins during the loan review stage. From comprehensive judicial practice, it can be seen that the risks that arise during the loan review stage mainly occur in the following links.
(1) Omissions in the review content may cause credit risks to bank loan reviewers. Loan review is a meticulous work that requires investigators to conduct systematic inspection and investigation on the qualifications, qualifications, credit, and property status of the loan subject.
(2) In practice, some commercial banks do not conduct due diligence, and the relevant loan review personnel often only focus on the identification of documents and lack due diligence. In this way, it is difficult to identify fraud in loans. It is easy to create credit risks.
(3) Many erroneous judgments are caused by banks not seeking expert opinions on the relevant content or having professionals make professional judgments. During the loan review process, it is not only necessary to ascertain the facts, but also to make professional judgments on the relevant facts in legal, financial and other aspects. In practice, most loan review processes are not very rigorous and in place.
3. Legal content of pre-loan investigation
(1) Examine the legal status of the borrower regarding its legal establishment and continued effective existence. If it is an enterprise, it should be examined whether the borrower is established in accordance with the law, whether it has the qualifications and qualifications to engage in relevant business, check the business license and qualification certificates, and pay attention to whether the relevant licenses have passed annual inspections or relevant inspections.
(2) Regarding the borrower’s credit standing, examine whether the borrower’s registered capital is suitable for the loan; examine whether there is any obvious evasion of registered capital; past lending and repayment status; and the borrower’s products Whether there are any illegal situations such as quality, environmental protection, tax payment, etc. that may affect the repayment.
(3) Regarding the borrower’s borrowing conditions, whether the borrower has opened a basic account and a general deposit account in accordance with relevant laws and regulations; whether the borrower’s (if it is a company) foreign investment exceeds 50% of its net assets. ;Whether the debt ratio of the borrower meets the requirements of the lender;
(4) Regarding guarantees. For guarantee guarantees, the guarantor's qualifications, creditworthiness, and ability to perform the contract shall be investigated.
Four;, the borrower and his/her responsible person should also be subject to special examination. In order to reduce the moral hazard of the lender, the borrower and his/her responsible person should also be subject to special examination. When financial institutions grant loans, in addition to reviewing the loan In addition to the qualifications, conditions, operating conditions, etc. of the person, the personal qualities of the company’s investors, legal representatives, and key managers must also be strengthened to be reviewed and controlled, including:
(1) The chairman of the board, General managers, factory directors, managers and other key personnel engage in gambling, drug abuse, whoring, keeping mistresses, frequenting dance halls and saunas, excessive arrangements for weddings and weddings, purchasing high-end cars that are not commensurate with their economic strength, and frequently renting high-end hotels, etc. , its corporate loans must be strictly controlled.
(2) Loans to family-owned groups or companies must be strictly controlled. The so-called family group or company refers to an enterprise in which the main persons in charge of the group and its subsidiaries or branches, and the main leadership positions within the enterprise are all or mainly held by blood-related personnel and their family members and relatives.
(3) If the legal representative holds a foreign passport or has permanent residence in a foreign country, his or her enterprise or company has branches abroad, or its main family members have settled abroad or have established a company abroad. Loans must be strictly controlled, and legal representatives' overseas trips and capital transactions of enterprises must be closely monitored. In particular, transfers of funds to foreign countries or transfers whose purpose is unclear must be strictly reviewed, supervised and stopped in a timely manner.
(4) Before granting a loan, the situation of the legal representative of the enterprise must be investigated. Loans to related companies where one person serves as the legal representative of multiple companies must be strictly controlled.
(5) When reviewing a loan, it must be based on the borrower's qualifications, conditions, operating conditions, repayment ability, the quality of the principal person in charge of the enterprise, etc., and shall not be based on the borrower's political identity, such as " "Model workers", "advanced elements", "overseas Chinese", "people's congress representatives", "members of the Chinese People's Political Consultative Conference", etc., lower loan conditions or fail to grant and manage loans in accordance with rules and regulations.
(6) The loan-lending relationship only occurs between the parties. The review of loan conditions must not be relaxed for those loans that are introduced through greetings or written notes through or using relationships such as leaders, relatives, friends, classmates, comrades-in-arms, etc. Loans will not be granted to those who do not meet the loan conditions.
(7) When granting guaranteed loans, the relationship between the borrower and the guarantor must be carefully investigated. For enterprises whose borrowers and guarantors belong to the same group company, loans must be strictly reviewed. Guarantees provided by branches that are not independent legal persons are invalid.
5. Suggestions for loan review: Carefully review each loan, and do not base loan risk judgments on past reviews or credit. The review cannot be relaxed or the investigation procedures reduced just because a borrower has paid principal and interest on time in the past. Establish a regular appointment system for the borrower's legal representative and its key management personnel. The appointment period can be determined based on the size of the loan amount, changes in the borrower's production and operations, etc. If the loan amount is large, the appointment period should be shortened accordingly. Loan officers (loan officers, credit review team members, credit review committee members) and borrowers are not allowed to have improper personal contact during lending activities. Loan officers and their immediate family members are not allowed to accept cash, valuable gifts, shopping vouchers, etc. from borrowers; they are not allowed to participate in entertainment activities paid for by the borrower; and they are not allowed to reimburse any expenses to the borrower. For loans with large amounts, long periods, or loans used by borrowers for specific purposes, professionals such as lawyers and accountants should be hired to make professional judgments and provide expert opinions on relevant matters.
***Qingcheng College Student Entrepreneurship Loan Interest Rate
***Qingcheng College Student Entrepreneurship Loan Interest Rate is 4.35.
The interest rate of college students' entrepreneurial loans is calculated according to the formula of interest = principal × number of years (months) .
How much can college students get entrepreneurship loans?
Bank of China provides entrepreneurship loans for college graduates. The entrepreneurial loan limit for college graduates is: the maximum loan amount granted to qualified individuals is adjusted to 100,000 yuan. For partnerships, the loan scale can be appropriately expanded based on the number of people and business projects. For partnerships with 3 or more people, the loan scale will be reasonably determined based on 50,000 yuan per person, and the total maximum amount shall not exceed 200,000 yuan. If you have loan needs, it is recommended to contact the local branch for detailed consultation.
The above content is for your reference, please refer to actual business regulations.
The maximum entrepreneurial loan for college students is 50,000. For some special loan projects, the loan period can be extended to four years on the basis of the two years stipulated by the state. The interest on loans for low-profit projects that comply with the provisions of national loan interest subsidy funds will be fully subsidized by the central government for the first two years, and the interest will be subsidized by the district-level finance for the next two years. The interest on loans for non-subsidized projects will be subsidized by the district-level finance for the same period during the loan period. An interest discount of 10% of the loan base interest rate is provided. The municipal finance will subsidize 60% of the interest subsidy funds borne by each region's finances. Just bring your ID card and household registration book to a bank to get a business loan for college students.
What is the interest rate on entrepreneurial loans for college students?
Entrepreneurship loan requirements for college students Entrepreneurship loan refers to a special project that is issued to individuals who have certain production and operation capabilities or are already engaged in production and operation. They apply for capital needs due to starting a business or re-starting a business, and are approved by the bank as an effective guarantee. loan. Below are the requirements for entrepreneurial loans for college students that I have compiled. Let’s take a look. Entrepreneurship loan requirements for college students 1 Graduates from colleges, technical secondary schools and technical schools within two years of graduation can apply to the handling financial institution for a small guaranteed loan with a maximum amount of 100,000 yuan according to prescribed procedures. For qualified personnel, partnership and For those who are organized for employment, the loan limit can be appropriately expanded. Interest discounts can be provided for small secured loans that comply with industrial policies. Loan target: Shenzhen local registered college graduates and technical school graduates. Loan amount: up to 100,000 yuan. Loan term: 2 years. Within the legal working age, have certain labor ability, be honest and trustworthy, start a business independently or set up a partnership to raise funds. The following people who are insufficient: registered unemployed persons, college and technical school graduates within two years of graduation, unemployed persons who have transferred from rural to rural areas, persons who have returned to study abroad, demobilized and demobilized veterans, family members of the military and the disabled can all apply. For those who apply for a small-amount guaranteed loan for the first time, the personal loan amount shall not exceed 100,000 yuan; for a partnership, the cumulative amount shall be 100,000 yuan per partner who meets the loan conditions, but the total loan amount shall not exceed 500,000 yuan. The loan term is 2 years. If the borrower continues to need small-amount guaranteed loan support when it expires, it can apply for a loan extension on the premise that the project it runs is running well, the interest is paid on schedule, and the loan is repaid. Application for extension should be made in writing two months before the loan expires. The extension period is 1 year. Requirements for Entrepreneurship Loans for College Students 2 After the adoption of the "Implementation Plan for the Implementation of the "Tianjin Municipal People's Government's Policies and Measures on Developing Maker Spaces to Promote Mass Innovation and Entrepreneurship" issued by the Tianjin Municipal Human Resources and Social Security Bureau, "college students" starting businesses in Tianjin You can enjoy four good policies: entrepreneurship training, guaranteed loans, rent subsidies, social security subsidies, etc. "College students" refer to students who are enrolled in ordinary colleges and universities starting a business in Tianjin two years before graduation and graduates within five years after graduation. Friends who meet the regulations can enjoy government support. 1. Entrepreneurship training College students can participate in free entrepreneurship training at training institutions with entrepreneurship training qualifications. Current students can apply for entrepreneurship training at the employment and entrepreneurship guidance department of their institution with their ID cards and student IDs; graduates can apply for entrepreneurship training at the human resources and social security bureaus of various districts and counties with their ID cards and employment and entrepreneurship certificates (employment and unemployment registration certificates). 2. Guaranteed loans: College students who start a business and obtain a business license can apply for small guaranteed loans.
Loans of up to 300,000 yuan can be provided; entrepreneurs who have successfully started a business and have created more than 5 jobs and have stable operations can be provided with further loan support, with a total loan limit of up to 500,000 yuan and a loan period of no more than 2 years. Interest discounts will be given to those that comply with the national and municipal interest discount regulations. 3. Rent subsidy: College students who have obtained industrial and commercial business licenses and rented houses for production and operation can enjoy rent subsidies. Subsidies will be provided based on the actual rent costs, with a maximum of 1,800 yuan per month and a maximum of 24 months. 4. Social security subsidies Entrepreneurial college students and their recruited graduates from ordinary universities in this city or graduates with household registration in this city within 2 years can enjoy one-year job subsidy and three-year social insurance subsidy. 5. Other preferential policies: If there is a fixed incubation place in Tianjin, a management service team established in accordance with the law, the construction area of ??the entrepreneurial incubation base is not less than 1,500 square meters, it can absorb more than 30 households of first-time college student entrepreneurs, and create more than 100 jobs, Anyone can apply for subsidies. If more than 30 households of first-time entrepreneurial college students are recruited and more than 100 people are employed, a financial support of 500,000 yuan will be provided; if more than 45 households are recruited and more than 150 people are employed, a financial support of 750,000 yuan will be given; if more than 50 households are recruited, a financial support of 750,000 yuan will be provided. , and create more than 200 jobs, a financial support of 1 million yuan will be given. Those who have enjoyed the support policies for more than 1 year, and the number of new first-time entrepreneurial college students and the number of new jobs created meet the above conditions can still enjoy the relevant support policies again. College students from other places with household registration in other provinces and cities who start their own businesses in Tianjin can enjoy corresponding policy support from Tianjin. This implementation plan will be implemented from June 1, 20XX and will be abolished on May 31, 20XX. Requirements for College Student Entrepreneurship Loans 3 Liaoning College Student Entrepreneurship Loan Application Process: What is the procedure for College Student Entrepreneurship Loans? College graduates are exempt from five fees for working as individuals for one year. (2) College students’ self-employed businesses can be archived for free for 2 years. (3) You can start a business with just your ID card and university student ID card. (4) Free risk assessment, free policy training, free loan guarantees and partial tax exemptions. (5) Low-interest loans. (6) College students and graduate students can take a leave of absence to retain their student status and start high-tech enterprises. (7) The "Rainbow Project" will help support college student entrepreneurial leaders through various methods. (8) Three major preferential policies will be provided for applying for the "Self-entrepreneurship Certificate": priority in acceptance, priority in license application and simplified registration procedures; those who apply to engage in small-scale private enterprises will implement a trial period system, during which registration is exempted Fees, change fees, annual inspection fees; reduction and exemption of corporate income tax. In addition, they also enjoy loan guarantees, and the loan amount is generally around 20,000 yuan. This certificate is valid for three years. Preferential Policies for College Student Entrepreneurship The Complete Handbook for College Student Entrepreneurship Policies focuses on preferential policies for college students' entrepreneurship. In recent years, in order to support college students' entrepreneurship, national governments at all levels have introduced many preferential policies, covering many aspects such as financing, business opening, taxation, entrepreneurship training, and entrepreneurship guidance. For college students who plan to start a business, only by understanding these policies can they take the first step in starting a business. According to relevant regulations of the state and the Shanghai Municipal Government, fresh college graduates starting their own businesses in Shanghai can enjoy four preferential policies: free risk assessment, free policy training, free loan guarantees and partial tax exemptions, including: ■College graduates (including university graduates) Those who engage in self-employment (junior college students, undergraduate students, graduate students) will be exempted from paying self-employed registration fees, self-employed management fees, economic contract sample text production fees, etc. for one year from the date of approval. In addition, if you set up an informal enterprise, you only need to register it at the district or county street where you are located, and you will be exempt from tax for 3 years. ■College students who start their own business can apply for a business loan guarantee limit of up to 70,000 yuan from the bank and enjoy loan discounts. ■Shanghai has established an entrepreneurship education and training center specifically for fresh college graduates, providing free project risk assessment and guidance to college students to help them better grasp market opportunities. Liaoning University Student Entrepreneurship Loan Application Process: Liaoning Provincial Government Supports University Student Entrepreneurship Loan Financing for college students' entrepreneurship has always been a difficult problem, and issuance is not new, but Dalian Shahekou District's free distribution of entrepreneurial funds is still eye-catching.
From 20XX to 20XX, a college student entrepreneurship leadership plan was implemented. College graduates who are willing to start a business can obtain free entrepreneurial guidance services provided by public employment and talent service agencies. Various regions have built college student entrepreneurship incubation bases according to local conditions and provided relevant policy support. 6. Preferential policies for settlement. Eliminate the restrictions on the settlement of college graduates and allow college graduates to go through the settlement procedures in the places where they start their businesses. Requirements and conditions for application for entrepreneurial loans for college students in Xi'an in 20XX (1) Applicants for entrepreneurial loans for college students must be over 18 years old, have legal and valid identity certificates and proof of legal residence in the location of the loan bank, and have a fixed residence or business place; (2) Entrepreneurship by college students The loan applicant holds a business license issued by the industrial and commercial administration and a business license for related industries, is engaged in legitimate production and business activities, and has a stable income and the ability to repay principal and interest; (3) Investment projects for college student entrepreneurship loan applicants Already have a certain amount of self-owned funds; (4) The purpose of college student entrepreneurship loans complies with relevant national laws and bank credit policies, and is not allowed to be used for equity investment; (5) Open a settlement account in the bank, and the operating income is settled by the bank. Requirements for Entrepreneurship Loans for College Students 5 Nowadays, many college students no longer choose "employment" in the traditional way, but choose to be self-reliant - starting a business. This has to mention "college student entrepreneurship loans". Entrepreneurship loans for college students are preferential entrepreneurial measures provided by the state to college students. In order to support college students' entrepreneurship, national governments at all levels have introduced many preferential policies, covering many aspects such as financing, business opening, taxation, entrepreneurship training, and entrepreneurship guidance. Taoqianbao is here to tell you about the preferential policies for entrepreneurial loans for college students and their application requirements. Preferential policies for entrepreneurial loans for college students: 1. Interest exemption. Go to a local bank to apply for a business loan. Local policies will provide certain interest exemptions for business loans. The main manifestation is that the interest rate of entrepreneurial loans will be reduced by 20% according to the interest rate of the same grade specified by the People's Bank of China. 2. Interest discount policy. The small entrepreneurial loans provided by the state to college graduates are government subsidized loans with a term of 1 to 2 years. After 2 years, they will no longer enjoy financial discounts. 3. Local government. The amount of entrepreneurial loans for college students has its own policies and regulations across the country, and the relevant preferential policies depend on the actual situation of the local government. In order to support local college students to start their own businesses, local governments have introduced relevant policies and regulations, which are more detailed and closer to reality. Application requirements for college students' entrepreneurial loans: 1. College graduates or above; 2. Unemployed for more than 6 months after graduation, and registered as unemployed with the local labor and social security department; 3. Loan applicants must have a fixed residence or business place; 4. Business license and operation permit, stable income and the ability to repay principal and interest; 5. The entrepreneur's investment project has a certain amount of own funds. Information required for college students’ entrepreneurial loans: 1. Documents proving marital status, personal or family income and property status and other repayment capabilities; 2. Relevant agreements and contracts for the purpose of the loan; 3. Guarantee materials, involving collateral or pledges The ownership certificate and list, and the mortgage (pledge) valuation report issued by the bank's recognized appraisal department. The amount and term of entrepreneurial loans for college students: 1. The maximum amount shall not exceed 70% of the total funds required by the borrower for normal production and operation activities, purchase (installation or repair) of small equipment (machines), and franchise chain operations; 2. State-owned commercial Banks, joint-stock banks, urban commercial banks and qualified urban credit cooperatives should provide loans to graduates who start their own businesses, with a loan amount of about 50,000 yuan; 3. The term is generally 2 years, with a maximum of no more than 3 years, including production The maximum term of operating working capital loans is 1 year; 4. Personal entrepreneurial loans are subject to the term loan interest rate promulgated by the People's Bank of China, which can fluctuate up or down within the prescribed range. Requirements for Entrepreneurship Loans for College Students 6 Measures 1. Improve entrepreneurial capabilities. Encourage college students to participate in entrepreneurship training. Those who complete the prescribed training content and independently complete the entrepreneurship plan will be given a training fee subsidy of 500 yuan per person. Measure 2: Improve entrepreneurship policies. College students who open "online stores" on e-commerce online platforms and are registered with the industrial and commercial administration can enjoy policy support such as small guaranteed loans and social security subsidies.
Measure 3: Improve entrepreneurial services. If college students start a business and rent a house, they will be given rent subsidies. The subsidy standard is calculated based on 10 square meters per person, with a subsidy of 1 yuan per square meter per day, up to a maximum of 60 square meters, and the subsidy is for 2 years. Measure 4: Improve the entrepreneurial environment. Coordinate the use of existing resources such as university science parks and technology business incubators to establish college student entrepreneurship incubators, provide services or business premises for college students to start their own businesses, and provide entrepreneurial guidance, entrepreneurial training, entrepreneurial incubation, project promotion, and subsidy applications to the settled entrepreneurial college students. , legal, policy consulting and other one-stop entrepreneurial services to improve the success rate of entrepreneurial incubation. The series of measures introduced and implemented by Tianjin to promote and support college students' entrepreneurship will further provide a good entrepreneurial environment and support for entrepreneurial college students, and provide strong support for college students' entrepreneurial work. Requirements for Entrepreneurship Loans for College Students 7 Application conditions for Entrepreneurship Loans for College Students generally need to meet the following points: 1. College graduates or above; 2. Applicants are between 18 and 35 years old and can provide valid identification and proof of residence; 3. , have a fixed business place; 4. The applicant must hold a business license and operating license issued by the industrial and commercial administration department, and engage in legitimate and legal production and business activities; 5. The applicant has a certain amount of self-owned capital for starting a business; 6. Have a stable Income and ability to repay when due; 7. Good credit record, no bad credit record; 8. The purpose of the loan complies with relevant regulations. Extended information Application process: 1. Acceptance. The applicant applies to the University Student Entrepreneurship Park Management Service Center and submits relevant application materials, which will be initially reviewed by the University Student Entrepreneurship Park Management Service Center; 2. Review. For commercial loan interest discount objects and amounts that have passed the preliminary review, the Personnel Bureau, together with the Finance Bureau and other relevant departments, will review the information of the commercial loan interest discount objects based on factors such as industrial orientation, enterprise size, number of employees, registered capital, profits and taxes, and determine the interest discount. Amount; 3. Publicity. The commercial loan interest discount objects and interest discount amounts that have been reviewed and approved will be publicized by the Personnel Bureau and the applicant's unit or community. The publicity period is 5 working days; 4. Approval. If there is no objection after publicity, the Personnel Bureau will issue an approval notice; 5. Appropriation. According to the approval notice from relevant departments, the Finance Bureau will allocate funding from the special funds to support college students' independent entrepreneurship after the interest discount recipients provide interest payment certificates. 6. Things to note when applying for entrepreneurial loans for college students. According to the staff of the Individual Division of the Provincial Industrial and Commercial Bureau, the relevant policies have been implemented. When college graduates go through the relevant procedures for self-employment, in addition to bringing the required materials and submitting relevant applications, they also need to You should bring relevant information such as employment recommendation forms for college graduates, graduation certificates, etc. Requirements for Entrepreneurship Loans for College Students 8 1. Application conditions: 1. College graduates or above; 2. Not employed for more than 6 months after graduation, and registered as unemployed with the local labor and social security department. 2. Loan term: The small entrepreneurial loans provided by the state to college graduates are government subsidized loans with a term of 1 to 2 years. After 2 years, they will no longer enjoy financial interest subsidies. 3. Loan methods: The methods for college graduates to start their own businesses are guaranteed and mortgage (pledge) loans. 4. Relevant instructions: For specific operation methods, please consult the local Labor and Social Security Bureau. In addition, there are other preferential policies for college students to start their own businesses. Those who engage in self-employment are exempted from industrial and commercial registration and management administrative fees for one year; those who start their own businesses and are self-employed can also keep their household registration files in the city's universities and technical schools. Graduate Employment Guidance Service Center.
Extended information: Loan channels for college students: The main ways for college students to apply for entrepreneurial loans include: applying for loans directly from banks, applying for discount loans for small and medium-sized technological enterprises, and using new technological achievements or intellectual property and patent rights for guarantees loan. However, because banks are very strict in reviewing personal loan applications, they pay special attention to the repayment ability of loan applicants. College students have just started their own business and have little repayment ability in the eyes of the bank's loan review department, so it is difficult to get what they need. For loans, it is recommended that college students should not use the first method to apply for a loan.
Requirements for College Student Entrepreneurship Loans 9 The conditions for College Student Entrepreneurship Loans are: 1. Applicants applying for College Student Entrepreneurship Loans must be Chinese citizens who are over 18 years old and have full capacity for civil conduct; 2. They must have a business license issued by the industrial and commercial administration and relevant Business license of the industry; 3. Already have a certain amount of entrepreneurial capital, have good repayment ability and stable income, and need to apply for a loan in the area of ??permanent residence; 4. The loan applied for must be used within the specified scope of use; 5. In The bank opens a settlement account. ;