Student Loans – University of Montenegro/Abroad – Universal Capital Bank AD Podgorica

Student Loans are granted to citizens of Montenegro. All regular students and postgraduates can apply, as well as applicants for a master’s degree abroad. Student logbook, a university pro-forma invoice and a copy of the personal ID must be provided with the loan application form.

Option	Student Loan
Loan amount	up to 10,000.00 EUR
Nominal interest rate	7.50 % – 8.50 %
Maturity* (including grace period)	up to 60 months
Grace period	up to 12 months (intercalary monthly interest)
Repayment	in monthly instalments
One-time fee	65.00 EUR

Collaterals

Attachment of Salary or Garnishment on the earnings of the Guarantor;
Bill of exchange signed by all loan participants with draft authorisation;
Bank may also request additional collaterals in the form of statements, authorisations etc.;

The Bank reserves the right to not approve the loan or to ask for additional security instruments in accordance with borrower’s credit history.

Guarantors

Full-time employment for at least 6 months at current employer;
Monthly annuity may not exceed 50% of monthly earnings;

Additional benefits:

These benefits apply to students up to 29 years of age:

Transactional account – no monthly maintenance fee
Debit Visa payment card – no monthly maintenance fee
Electronic and mobile – no monthly maintenance fee
SMS notification – free of charge

Representative example:

Total Loan Amount	10,000.00 €
Number of instalments	60
Monthly payment amount	199.20 €
Administrative Fees
1. Loan Processing Fee	65.00 €
2. RKB Report cost (borrower + guarantor)	6.00 €
3. Purchase price of 4 bills of exchange (borrower + guarantor)	8.00 €
Nominal annual interest rate	7.50 %
Effective interest rate	7.86 %
Total interest	1,952.00 €
Total costs*	2,031.00 €
Total repayment amount	12,031.00 €

The loan calculator is informative. The costs involved in the processing of the loan are shown in a representative example.