Eligible to become beneficiaries of this loan are students of all universities and higher education institutions present in the territory of Montenegro.
If a loan beneficiary is a student, its credit rating cannot be established. If a parent is the loan beneficiary, it credit rating is established as follows:
- If a loan is granted without guarantors - monthly instalment (annuity) must not exceed 1/3 of average monthly net salary, pension or other monthly personal income derived from a business, real estate or property rights
- If a loan is granted with one guarantor - monthly instalment (annuity) must not exceed 1/2 of average monthly net salary, pension or other monthly personal income derived from a business, real estate or property rights
The sum of age of the Beneficiary of a loan agreement and the repayment term may not exceed 70 years (for example, if a loan Beneficiary is 69, the repayment term must be maximum one year).
If a loan beneficiary is a Bank’s Client who receives its salary on a current account at Hipotekarna Bank, the Bank may grant this loan without guarantors.
A guarantor’s credit rating is established as follows:
- If there is just one guarantor, the amount of monthly annuity for loan repayment may not exceed 1/2 of his monthly salaries after withholdings have been deducted.
- If there are two or more guarantors, the sum of available thirds of their monthly salaries must at least equal the amount of monthly loan instalment.
