Products and Services

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 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

Interest rate is from 9% to 10% depending on the credit currency and period of use.

The annual percentage rate is 10,91% 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 9,5% (base interest rate (BIR) + a margin 3,5%). Total due amount BGN 19 211,68 and amount of the monthly installment BGN 315,03. As from December 2008, the base interest rate of the Bank in BGN is 6%.

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.

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.