Primus loan for education | Podgorička banka
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Primus loan for education

If you need money for the education of your children or you are a student with permanent employment, Primus student loan is the right one for you.

This loan provides you a fast settlement of obligations such as payment of school fees, purchase of books and school supplies, or payment of your travel expenses if your school is abroad.

Target clients

The loan is intended for bank clients - parents, and the students themselves if they are permanently employed.

Advantages

  • Loan approval in a day!

  • The loan is approved in the amounts from € 150 up to € 10,000 without endorsers

  • repayment period from 3 to 60 months 

  • the loan is approved at the fixed interest rate 6,99%

The maximum loan amount is limited to double the amount of the enclosed invoices with visibly expressed purpose, whether it comes to invoices from universities or other educational institutions, invoices for transport if they study abroad, which means that the part of the loan (maximum half of it) can be paid and in cash.

More

Sample of loan

Loan amount

1.000,00€

5.000,00€

10.000,00€

Repayment period

12 months

36 months

60 months

Nominal interest rate (annual)

6,99%

6,99%

6,99%

Monthly instalment

86,42€

153,86€

197,00€

Administrative fee

5,00€

25,00€

50,00€

Total interest

37,04€

538,96€

1.820,00€

Effective interest rate

9,02%

7,42%

7,21%

Total costs*

42,04€

563,96€

1.875,00€

Total debt

1.042,04€

5.563,96€

11.875,00€

*Total costs represent the sum of interests for the entire period, administrative fees, bill of exchange fee (2€) and inquiry fee for Credit registry report (3€). 

General rules of approval

The loans are approved to the adult, creditworthy loan applicants who make regular income from a permanent employment. A creditworthy applicant is a client who is able to repay his/her total monthly obligations including the loan installment with the half of his/her salary/pension.

Collateral

  • bill of exchange and bill authorization signed by the client (and endorser, if required under the loan requirements)
  • administrative prohibition for the client (and endorser, if required under the loan requirements)
  • approval for account indebtment
  • waranty agreement for endorsers
  • standing order to the debtor

The bank may require additional collateral (warranty of the legal entity, more guarantors).

Required documentation

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Currency exchange list

  • val. unit. Srednji change
  • CHF 1 1.0968
  • GBP 1 0.8445
  • USD 1 1.1094
  • rate 6m. 3m.
  • EURIBOR -0.34 -0.4