Student Loans – Universities in Montenegro and Abroad
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About the loan
Student loans approved by Universal Capital Bank are intended for citizens of Montenegro, including full-time students and postgraduates. These loans enable financing of education on favourable terms. To apply, it is necessary to submit an index, a pro forma invoice for the faculty and a copy of the ID card, and approval is made based on the attached invoice, with 80% of the amount going directly to the account of the educational institution, while a maximum of 20% is paid to the student's account.
This type of loan provides support to students in covering the costs of education, facilitating access to quality education both in the country and abroad.
Don't wait! Take advantage of this opportunity and achieve financial security today. Contact us or visit the nearest branch to submit an application.
Option | Student Loans |
|---|---|
Amount | up to 10,000.00 EUR |
Nominal Annual Interest Rate | 7.50 – 8.50 % |
Maturity | up to 60 months |
Grace Period | up to 12 months (compound interest monthly) |
Repayment Method | annuity |
One-Time Fee | 65 EUR |
Collateral
- Administrative prohibition of guarantor
- Promissory note signed by all participants in the loan with promissory note authorisations
- The bank may also request additional collateral in the form of statements, authorisations, etc.
The bank reserves the right not to approve the loan or to request additional collateral in accordance with the client's credit history and creditworthiness assessment.
Co-debtors
- Permanent employment for at least 6 months with the current employer
- Monthly annuity must not exceed 50% of monthly salary
- Maximum age 65 at the time of loan repayment
Note
Required Documentation:
- Administrative ban for the borrower certified by the employer (if the borrower is employed)
- Evidence of income (regular/extraordinary), for the borrower or for the guarantor/guarantor
- The loan is disbursed to the loan beneficiary's bank account's account in the bank
- Loans up to EUR 1,000 are approved for a maximum of 12 months
Representative Example:
Total Loan Amount | 5,000 EUR |
|---|---|
Number of Installments | 60 |
Monthly Obligation Amount (installment) | 111.89 EUR |
Loan Processing Fee | 65.00 EUR |
Fee for Providing Data from the CBCG Credit Registry | 3 EUR |
Costs for Purchasing Two Promissory Notes | 4 EUR |
Nominal Annual Interest Rate | 13.00 % |
Effective Interest Rate | 13.70 % |
Total Interest | 1,760.50 EUR |
Total Costs * | 1,832.50 EUR |
Total Amount Payable by the Client | 6,832.50 EUR |
Note: The total costs represent the sum of the interest for the entire period in the amount of EUR 1,760.50, the cost of the loan approval fee (65 EUR), the cost of 2 promissory notes (4.00 EUR) and the cost of inquiries to the CBCG Credit Registry (3.00 EUR). The total amount that the client needs to pay is EUR 6,832.50.
A representative example is shown on the calculation example from 26 December 2024.