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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Nominal interest rate | 7.50% |
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 € |
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Number of instalments | 60 |
Monthly payment amount | 199.24 € |
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 | 7.50% |
*Effective interest rate | 7.75% |
Total repayment amount | 12.009,40 € |