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Contact
contact@kb.com.mk

contact center:
(02) 3 296 800

Scholarship loan with EUR clause



Komercijalna Banka AD Skopje approves loans for scholarship costs in the country or abroad.


This loan is intended for all creditworthy individuals who are full-time employees or pensioners who receive their pension through a transaction account with the Bank.


The scholarship loan may be used by the borrower or by any member of his close family enrolled in one of the following types of institutions in the country or abroad:
  • high-school institutions;
  • higher education institutions;
  • education centers registered in the Republic of Macedonia.


Loan purpose For payment of scholarship costs
Loan amount Up to 5,000 EUR (in denar counter value)
Loan term Up to 5 years
Nominal interest rate

5.5% p.a. variable (1- month EURIBOR + 5.5%, but not less than 5.5%)*

*The rate of 1-month EURIBOR shall be announced at each 31.12. and 30.06. at the web site of the Bank and shall apply for the current six-months period (until the end of the respective six-months period) LINK. If the rate is of negative value, its value shall be taken to be 0.00 when calculating the nominal interest rate.

Annual rate of total expenses (RTE) 5.89% p.a. (RTE extent depends on the loan repayment period, loan amount, the amount of the loan costs that are included in the calculation of RTE and the extent of the nominal interest rate). 
Early repayment Free of commission for early partial or full loan repayment
Criteria
  • Monthly instalment should be 1/2 of the borrower’s monthly net-income
  • The age of the Borrower should not exceed 70 years with the last monthly instalment
  • No guarantors
  • Another 2 applicants may join the main loan applicant, who need not to be family related but must be creditworthy.
Disbursement
  • Maximum period for loan funds disbursement is 60 days from the date of loan approval
  • The loan funds for high school education, full-time university education and for education at registered education centers shall be transferred to the giro account of the respective educational institution
  • The loan funds for specialization and post-graduate studies shall be transferred on the account of the Borrower
  • For payment of scholarship abroad, the loan funds shall be transferred to the account of the Borrower, upon which the Bank shall sell foreign currency cash in the currency stated in the invoice to the extent of the denar counter value of the loan approved and shall effect the payment abroad
Loan costs
  • 1,000 MKD one-time fee for approval and administration of the loan 
  • 300 MKD for loan application and processing
  • Charges for the grace period interest (the grace period interest rate is calculated from the date of disbursement of funds till the date of commencement of repayment at interest rate equal to the interest rate of the loan)
  • Bill of exchange charges
Repayment
  • monthly instalments
  • maturity of annuity - on the 16th day of each month
Security
  • Administrative ban on salary
  • Draft and draft statement
Documents required
  • Loan application
  • copies of valid identity cards for all participants in the loan
  • Birth/marriage certificate evidencing relation with the co-applicants
  • For employees in private companies acceptable for the Bank, form PP53 (Declaration for receipt from PRA) for the previous three months and solvency of the giro account with the bank they are clients to (for clients of the Bank solvency is not required)
  • For pensioners – the latest pension cheque
  • Invoice or other document issued by the high school education or university education institution containing the data on the funds required Evidence for specialization or post-graduate studies enrolment made

Komercijalna Banka shall keep its discretion right to reject the loan application


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