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 |
|---|---|
| Nominal interest rate | 8.50% |
| Maturity* (including grace period) | up to 60 months |
| Grace period | up to 12 months (intercalary monthly interest) |
| Repayment | in instalments |
| One-time fee | 0.50% |
Representative example:
| Total Loan Amount | 10,000.00 € |
|---|---|
| Number of instalments | 60 |
| Monthly payment amount | 203.70 € |
| Administrative Fees | |
| 1. Loan Processing Fee 0.5% | 50.00 € |
| 2. RKB Report cost | 3.00 € |
| 3. Purchase price of bill of exchange | 2.00 € |
| Nominal annual interest rate | 8.50% |
| *Effective interest rate | 8.73% |
| Total repayment amount | 12,277.00 € |
