Consumer Loan for Payment of Tuition Fees

Loans for easier start of school year

The Bank helps families with students by granting its customers consumer loans for payment of tuition fees and purchase of textbooks and school supplies, without charging the loan processing fee.

Conditions for obtaining a loan

Loan is granted to the client who meets the following conditions:

Client is an employed person or a beneficiary of pension and disability insurance (pensioner).
Client's financial status and creditworthiness are assessed by the Bank as positive.
Client has a current account opened with the Bank.

Loan amount and repayment period

From RSD 10,000 to RSD 300,000 per product.
Loan is repaid in 6, 9, 12 monthly installments. Loan repayment starts one month after signing the Loan Agreement.

Interest rate

Nominal interest rate is 6.99% annually.
Default interest is equal to the statutory default interest or the contracted (regular) interest if it is higher.

Loan costs

No loan processing fee
Credit Bureau report fee in the amount of RSD 246.00.
Cost of one promissory note in the amount of RSD 50.00.

Security instruments

One blank solo promissory note containing a "no protest" clause signed by the loan beneficiary.

Early repayment

Upon a written request to the Bank, the Borrower can make a partial or early repayment of the entire outstanding loan without a fee.

Required documentation

Pro forma invoice issued be the seller;
Certificate of employment and amount of income (only for employed persons).

REPRESENTATIVE EXAMPLE OF THE LOAN

Type of loan

Consumer loan for payment of tuition fees and purchase of textbooks and school supplies

Loan amount

RSD 100,000

Repayment period

12 months

Loan currency

RSD

Nominal annual interest rate

6.99% fixed

Indexing criteria

No indexing criteria

Monthly annuity

RSD 8,652.21

Loan security

2 promissory notes

Promissory note cost

RSD 50

Credit bureau report

RSD 246

Fee

RSD 0

Total loan amount
(principal + interest + costs)

RSD 103,826.55

Effective interest rate

7,69%*

*Representative example as of 12 August 2019

Consumer Loan for Payment of Tuition Fees and Purchase of Textbooks and School Supplies