Credit For Education

The loan for payment of primary, secondary, higher and additional professional education, and also for any form of education (day, evening or correspondence) has validity period five years, thus the bank percent collected from the educational credit are lower, than from the consumer credits. The commission, at issue of the loan for training isn’t collected. It is possibly to increase the term of crediting for period which the student needs to continue his study.

It is possible to obtain the credit for education, having filled in the questionnaire and having collected all documents required by the bank. It is worth paying attention that students are not eighteen years old can be only co-borrowers in receiving a credit. Banks carry out crediting of such clients only at submission of allowing documents from trustee bodies or officially certified written consent of parents. The trustee or parents are also the second co-borrower. Parents should confirm that they have a permanent income and are able to pay the credit.

After full document package is accumulated, it is submitted to the bank for consideration. If the decision on credit granting is approved it is necessary to bring the contract on entering the educational institution and to sign the contract at the bank. The majority of banks if in it there is a need require to make a contract for insurance of borrower’s property. This document will provide pledge on a case of non-payment by the client of the received sum. After all conditions have been satisfied the client may use the credit.

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