Student Loan

You wish to invest in your education or you need money to go and have an internship or on a student’s brigade abroad?
Student’s credit of Central Cooperative Bank will help you to realize your plans.

You can apply for a STUDENT’S LOAN, if:

  • You study in a regular, correspondence or distance form of education in a public or private higher education school, and
  • you are 30 or less years old by the date of credit application.

Credit parameters

Amount

The credit amount includes term fees and amount for current needs and living costs for the period of education in Bulgaria or abroad:
- up to BGN 20,000 or their equivalent in EUR or USD for education in Bulgaria;
CCB AD can finance your participation in cultural exchange programs, traineeship or students’ brigade abroad, where in these cases the credit amount is:
– up to BGN 7,000 or the equivalent in EUR or USD.

You can choose: to receive immediately the full amount for your education or to receive each year the amount for the respective year.

Grace period

You have the right to a grace period for the length of your education.
For the grace period you will pay only the amount of the accrued interests.

  • If the credit is to finance a traineeship program abroad, grace period is 12 months;
  • For credits for students’ brigade – up to 7 months.

The repayment credit term is up to 5 years after the expiration of the grace period.

Interest conditions

The standard interest rate is 9,9% regardless of the loan currency.

If the guarantor receives his/her salary at the Bank, a preferential interest rate to the amount of 8,8% is used.

The annual percentage rate  is 9,32% for one-off utilized loan to the amount of BGN 15 000, a repayment term of 5 years, with an included review fee and an one-off fee for loan management and a floating interest rate 8,8% (base interest rate (BIR) + a margin 4,3%). Total due amount BGN 18 645,33 and amount of the monthly installment BGN 309,92.See the methodology of CCB Plc (92,6 KB) for determining the BIR of consumer loans.

Collaterals

  • Up to BGN 10,000 – one guarantor
  • From BGN 10,001 to BGN 20,000 - two guarantors

The guarantor has to work under a permanent employment contract with at least 6 months work experience at his/her present employment. It is recommended that he/she is your close relative.

Documents we expect you to submit: All the necessary documents will be provided on the spot in the office of CCB.

When you apply for the credit:

  • An application for credit after a bank sample
  • A copy of the ID card;
  • A document from the higher education institution certifying that you are a student, your field of studies, year of education and amount of annual fees. For students’ brigade and internship programs you have to submit a document certifying that you have been approved for participation.

For your guarantor:

You can print out the necessary form, fill it in and present it in the bank office where you serve your bank account. We will answer to your application within two business days.

How much will the credit  cost you?

A fee for reviewing the loan application:

- BGN 20 for loans up to BGN 5000
- BGN 50 for loans above BGN 5000

This Student’s loan  is offered without state financial support.

Additional information about questions that interest you can be obtained on the green phone 0800 11 400 (call is free for customers from the whole country) or on the phone 02/9266 500, as well as in all offices of Central Cooperative Bank.

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