Students' Loans

Reward your efforts and invest in your future with a loan of up to € 1,500 and repayment period of 2 years!

This loan is tailored for all University and Higher Education Institution students on the territory of Montenegro.

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, its credit rating cannot be established. If a parent is the loan beneficiary, it credit rating is established as follows:
  • If a loan is granted without guarantors - monthly instalment (annuity) must 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 instalment (annuity) must 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 Beneficiary of a loan agreement and the repayment term may not exceed 70 years (for example, if a loan Beneficiary is 69, the repayment term must be maximum one year).

If a loan beneficiary is a Bank’s Client who receives its salary on a current account at Hipotekarna Bank, the Bank may grant this loan without guarantors.

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, the sum of available thirds of their monthly salaries must at least equal the amount of monthly loan instalment.

 

What do I need?
  • Loan application form, filled in by the loan Applicant
  • Copy of student registration book with official statement of student status or a copy of the school certificate
  • Certificate issued by Applicant’s faculty or primary or secondary school proving that the latteris enrolled in the faculty/school

 

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

 Representative loan example:

  • Amount of loan: €1,500.00
  • Repayment term: 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