Student Loans

Option

Student Loans

Interest rate

7.50%

Maturity

up to 60 months

Grace period

12 months (monthly interest)

Mode of repayment

monthly

Collateral

Administrative ban, exchange bill signed by all participants of the loan, other

Loan processing fee

0.50%

Remark

 

Full time employment, at least 6 months with the current employer

  • Guarantor can be a retiree
  • Maximum 65 years at the moment of loan repayment
  • The value of monthly annuity should not be more than 50 % of regular monthly income decreased by existing monthly obligations and garnishments.
  • Bank reserves the right to approve a loan to the regular clients without cosigners, and to request one or two cosigners / co-borrowers, insurance policy or other means of additional collateral, from the clients with whom the Bank had no prior business cooperation, all in accordance with estimated creditworthiness of the client and its employer.

 

 

Example:

Total loan amount

10,000.00 €

Number of monthly installments

60

Monthly installment

199.20 €

I Administrative fee

 

       1. Loan processing fee 0.5%

50.00 €

       2. Cost of RKB report

3,00 €

       3. Cost of one exchange bill

2,00 €

Nominal interest rate

7.50%

Effective interest rate

7.73%

Total repayment

12007 €