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Students' Loans

Invest in education and secure your future!

These loans are intended for all the students, to help them prepare for a new academic year and successfully continue their education. Maximum loan amount is EUR 1,500, with repayment period up to 24 months.

Loan eligibility requirements

Eligible to become beneficiaries of this loan are students of all universities and higher education institutions present in the territory of Montenegro.

If a loan beneficiary is a student, his credit rating cannot be established. If a parent is the loan beneficiary, his credit rating is established as follows:
  • if a loan is granted without guarantors - monthly installment (annuity) may not exceed 1/3 of average monthly net salary, pension or other monthly personal income derived from a business, real estate or property rights
  • if a loan is granted with one guarantor - monthly installment (annuity) may not exceed 1/2 of average monthly net salary, pension or other monthly personal income derived from a business, real estate or property rights
The sum of age of the party to a loan agreement and the repayment term may not exceed 70 years (for example, if a loan beneficiary is 69, the repayment term may be maximum one year).

If a loan beneficiary is the Bank client and receives his salary to a current account with Hipotekarna Bank, the Bank may grant this loan without guarantors required.

A guarantor’s credit rating is established as follows:
  • if there is just one guarantor, the amount of monthly annuity for loan repayment may not exceed 1/2 of his monthly salaries after withholdings have been deducted
  • if there are two or more guarantors, a sum of available thirds of their monthly salaries must equal the amount of monthly loan installment, at a minimum

Documents required

  • loan Application Form, filled out by the loan beneficiary
  • copy of student registration book with official statement of student status or a copy of a school certificate
  • certificate issued by a faculty or primary or secondary school proving that the loan beneficiary is enrolled with the faculty/school
  • evidence of credit rating of the loan beneficiary (where the student’s parent is the loan beneficiary) and of a guarantor
  • decision on salary attachment for the loan beneficiary (where the student’s parent is the loan beneficiary) and of a guarantor
  • copy of the loan beneficiary’s ID (as well as of the guarantor, where the loan granted requires a guarantor)

Loan security

  • blank bill of exchange signed by loan beneficiary and guarantors
  • decision on salary attachment for the loan beneficiary (if the loan beneficiary is employed)
  • decision on salary attachment for one or more guarantors

Loan example:

  • amount of loan: €1,500.00
  • repayment term up to 24 months
  • interest rate 10% p.a.
  • annuity €70.61
  • one-off processing fee 2% (€30.00)
  • effective interest rate (EKS) 15.65%
  • total amount of loan with interest included €1,694.64
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