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 |
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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 | 0 % |
Representative example:
Total Loan Amount | 10,000.00 € |
---|---|
Number of instalments | 60 |
Monthly payment amount | 199.22 € |
Administrative Fees | |
1. Loan Processing Fee 0% | 0.00 € |
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 | 7.56 % |
Total repayment amount | 11,967.20 € |