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:
  - up to BGN 15,000  or their equivalent in EUR or USD for education in Bulgaria;
  - up to BGN 20,000  for education abroad.
• 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

Interest rate is from 11% to 14.5% depending on the credit currency and period of use.

Annual percentage of costs is 12.65% for credit of  EUR 5,000  for 5-year term, and annual interest of 11%.

Collaterals

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

Guarantor has to work under permanent work contract with minimum 6 months of work experience at the current job and his net income should not be less that the monthly installment to the credit + BGN 160 . It is recommended that he be your close relative.

Documents we expect you to submit

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:

• A copy of the ID card;
• A certificate for the 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?

• Review fee – BGN 10
• Payable only once fees for loan admnistration  – 2%

Fees are collected upon granting of the credit.

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