Hypo Alpe-Adria-Bank offered good terms for financing of studies at BK University

Deputy of director of Hypo Alpe-Adria-Bank Belgrade, Vladimir Čupić, and rector of BK University, professor Dr. Danijel Cvjetićanin, signed the contract on cooperation today in the premises of BK University. This contract will make it possible for students of faculties of BK University to pay tuition by means of credit.

The model of the credit can be approved according to system "year by year", and, in that case, the amount of the credit increases every year either by the amount of the tuition fees for the next year, or by total amount required for entire education. Maximal repayment period is up to 5 years. Two credit-worth guarantors are required, whereas monthly installment cannot be bigger than 30% of the net monthly income of the user of the credit and his or her guarantors. Nominal interest rate is 7.75% on annual basis, it is variable, with proportional accounting method, while the effective interest rate ranges from 8.51% to 10.46% for the model of the credit from €800 to €14,400 with the repayment period of 1 - 5 years. The credit is paid directly to the checking account of the educational institution in Hypo Alpe-Adria-Bank on the basis of enclosed pro-forma invoice, invoice or the contract, in domestic currency at middle exchange rate of the National Bank of Serbia.

The students will be able to take the credit model based on restricted deposit. Privileges of this model of the credits lie in the fact that the guarantors are not needed, nominal interest rate is low and it amounts to 4.5% on annual basis, it is variable, with proportional accounting method, and the credit is quickly realized. Effective interest rate in this case ranges from 6.27% to 7.26% for the credit of €1,000 - €4,500 with repayment period of 1 - 5 years.