The main advantage of this loan may be that the installments can be postponed until after the end of the study (only interest is paid and the basic amount borrowed will start to be paid and after the termination or interruption of the study)
Loans for students from Loan and Credit
Student Loan – The Good Finance loan from Loan and Credit is a common non-purpose bank loan. The student can borrow from USD 20,000 to 600,000,000 from Loan and Credit. The maturity of this Good Finance loan can be set to 12 – 120 months (ie 1 – 10 years).
The Good Finance loan is intended primarily for university students or colleges. If the student does not have his / her own provable income, the bank requires the loan to be secured by a third party (parent or other person) who is able to provide regular income in the required amount. Alternatively, it is possible to guarantee the borrowed money by depositing with Loan and Credit or building savings.
Loan conditions for students from Loan and Credit
In addition to the main condition – verifiable study at a university, college or secondary school in the Czech Republic or abroad, applicants for this loan must provide two identity documents for students. It is also necessary to have an account with Loan and Credit. If the applicant does not have it yet, the bank will establish it before submitting the application. This is a My Account personal account. The minimum annual cost of maintaining an account is USD 816.
The loan is in the range of USD 20 – 600 thousand, with a maturity of 12 – 120 months. The basic interest rate on this loan is 8.36%. Loan and Credit does not charge the loan approval fee. However, it charges an annual fee for managing the loan of USD 600 (ie USD 50 per month).
If a student seeking a loan
Does not have provable income of his own, the Good Finance loan must be guaranteed by his parent or by another person.
The loan for Good Finance students can be requested to postpone installments. In this case, the student pays only interest on borrowed money. The basic amount borrowed will not be paid until after graduation. The Good Finance Student Loan is thus one of the few ways students can finance their studies in the form of a bank loan.