Hypo Alpe-Adria bank Belgrade approves credit for tuitions at 5 faculties in Serbia

Students of Megatrend faculty, FEFA, BK University, Faculty of Economy and Faculty of Design will be able to finance their education in much easier way thanks to the restricted loans of Hypo Alpe-Adria-Bank Belgrade.

The loan can be approved according to system "year by year“, in case of which the loan is increased every year for the amount of study expenses for the following year, or in total amount required for entire education, with maximum repayment period of up to 5 years. Two credit-worth guarantors are necessary and the monthly annuity cannot exceed 30% of net monthly wage of the credit user and the guarantors. Nominal interest rate is 7.75% on annual basis, it is variable, with proportional accounting method, whereas effective interest rate ranges from 8.51% to 10.46% for the loans of €800 - €14,400 with repayment period of 1 - 5 years. For example, if you decide to take loan in amount of €10,000 with repayment period of 5 years, and the loan is approved to you today, the amount of the installment will be €204.37, and the effective interest rate will amount to 8.51%. The loan is paid directly to the checking account of the educational institution opened in Hypo Alpe-Adria-Bank, on the basis of enclosed pro forma invoice, invoice or the contract, in domestic currency at medium echange rate of the National Bank of Serbia.

Students will be able to ask for the credit based on restricted deposit. Privileges of that model lie in the fact that the guarantors are not needed, nominal interest rate is only 4.5% on annual basis, it is variable, with proportional accounting method, and the realization of loan is very quick. Effective interest rate in that case ranges from 6.14% to 7.22% for the loans of €1,000 - €4,500 with repayment period of 1 - 5 years.