Student loan can be used to pay tuition fees, purchase a computer or cover living costs.
Terms and conditions | |
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Maximum amount |
2,500 euros in the 2020/2021 academic year or 1,250 euros if the duration of your studies is less than nine months. |
How many times is the loan granted |
The number of times the loan is granted to you depends on the length of the standard period of your studies. If you continue your studies on the same level of education or academic level (e.g. when acquiring second higher education) and have already taken out a student loan, then the number of times the loan is granted to you now is reduced by the number of times you took out a student loan before. |
Interest rate |
5% on the loan balance per year. Interest is due on 3rd November every year or as agreed in the loan repayment schedule. |
Due date |
Tied to the standard period of study and/or the actual time during which a person studies and is eligible for a student loan pursuant to law. |
Loan security |
The following security must be provided to obtain the loan:
*A surety provider must be 18–70 years of age and have received a regular and documented income equal to at least the current national minimum wage in the past three months. |
Requirements for applicant |
You can apply for a student loan if
You must also
You are not eligible for a student loan if you are on academic leave or have student loan arrears. More about the requirements set for student loan applicants:
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Repayment of student loan |
You have to start repaying the principal of your student loan not later than one year after you graduate or terminate your studies, unless you resume your studies before one year has lapsed from termination. After you graduate or terminate your studies, you must repay the loan principle and interest according to the schedule prepared by the bank, generally in equal monthly payments (annuity schedule). If you do not complete your studies for any reason whatsoever, you must repay the loan in a period that equals one and a half times the length of time you spent studying in the educational institution but is not shorter than six months and not longer than one-and-a-half times the nominal duration of the study programme. |
Grace period |
You can use a grace period in relation to childbirth, military service or time spent in residency. If you would like to apply for a grace period, you must submit a grace period for student loan application (EST)and the child’s birth certificate before the child attains three years of age or a certificate issued by the military unit before the end of your military service. Please note! The grace period is applied from the moment the relevant certificate and application are submitted and not retroactively from the start date of the period of eligibility. |
Annual percentage rate as a typical example |
The initial annual percentage rate of charge of a student loan is 5.46% under the following sample conditions:
The total amount of repayments payable by the client is €2,569.19 and total amount is €2,572.79. The annual percentage rate of charge, amount of repayments, and total amount may increase if the repayment occurs over a longer period of time. |
Applying for a student loan for the first time
Repeated application for a student loan
The conventional method of repayment for consumer loans is based on an annuity schedule. An annuity is a fixed-amount payment, consisting of both the loan principal and the interest calculated on the loan balance. When you make your first loan payments, interest represents a greater share of the annuity, but as the loan term approaches, the principal becomes proportionally greater.
Enter the initial loan sum, the term of the loan and the interest rate (percentage of the loan balance per year). An annuity consumer loan repayment schedule will be generated for the entire repayment period by each month. You will see the size of the annuity payment and be able to keep track of the decrease in the principal and size of the interest payments over time.
Private person | |
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1. Home loan, mortgage loan | |
- agreement conclusion | 1% of the loan amount, min. EUR 250 |
- agreement amendment (1) | up to 1% of the remaining loan, min. EUR 250 |
- changing the payment date once in a year | free of charge |
- changing the payment date as of the second change of payment date in one year | EUR 20 |
- change of the current account(s) related to the loan | EUR 20 |
- extending the loan disbursement period | EUR 50 |
- grace period for the principle amount of the loan | EUR 50 |
2. Consumer loan | |
- agreement conclusion | 1,5% of the loan, min. EUR 35 |
- agreement amendment (1) | EUR 35 |
- changing the payment date once in a year | free of charge |
- changing the payment date as of the second change of payment date in one year | EUR 20 |
- change of the current account(s) related to the loan | EUR 20 |
- grace period for the principle amount of the loan | EUR 20 |
3. Overdraft | |
- agreement amendment (1) | EUR 15 |
- changing the payment date once in a year | free of charge |
- changing the payment date as of the second change of payment date in one year | EUR 20 |
4. Student loan | |
- agreement conclusion | free of charge |
- agreement amendment (1) | free of charge |
- amending the student loan repayment schedule | free of charge |
5.Endowment loan | |
- agreement amendment (1) | up to 1% of the remaining loan, min. EUR 250 |
- changing the payment date once in a year | free of charge |
- changing the payment date as of the second change of payment date in one year | EUR 20 |
- change of the current account(s) related to the loan | EUR 20 |
6. Limit loan | |
- agreement amendment (1) | up to 1% of the loan limit, min. EUR 35 |
- changing the payment date once in a year | free of charge |
- changing the payment date as of the second change of payment date in one year | EUR 20 |
7. Other loan-related services | |
-contractual penalty for the violation of the notification obligation stipulated in the agreement, incl. for not submitting the insurance policy of collateral | EUR 32 |
- contractual penalty for the violation of any other non-monetary obligation stipulated in the loan agreement | up to 5% of the loan amount outstanding at the moment of violation |
- re-registration of a pledge established on a building into a mortgage | free of charge |
- reminder of debt | free of charge |
- debt claim letter | EUR 5 |
- certificate on paid interests (2) | EUR 4 |
Legal entity | |
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1. Investment loan | |
- agreement conclusion | 1% of the loan amount, min. EUR 200 |
- agreement amendment | 1% of the remaining loan /limit, min EUR 200 |
2. Working capital loan | |
- agreement conclusion | 1% of the loan amount, min. EUR 200 |
- agreement amendment | 1% of the remaining loan /limit, min EUR 200 |
3. Overdraft | |
- agreement conclusion | 1% of the loan amount, min. EUR 200 |
- agreement amendment | 1% of the remaining loan /limit, min EUR 200 |
- increasing the loan amount/limit | 1% additional loan amount/limit, min EUR 200 |
4. Start-up loan | |
- agreement conclusion | 1,5% of the loan amount |
- agreement amendment | 1% of the remaining loan /limit, min EUR 200 |
5. Apartment building renovation loan | |
- agreement conclusion | 1% of the loan amount, min. EUR 200 |
- agreement amendment | 1% of the remaining loan /limit, min EUR 200 |
6. Other loan-related services | |
- contractual penalty for the violation of any other non-monetary obligation stipulated in the loan agreement | up to 5% of the loan amount outstanding at the moment of violation |
-re-registration of a pledge established on a building into a mortgage | free of charge |
- reminder of debt | free of charge |
- debt claim letter | EUR 5 |
(1) All amendments to the loan, which have not been indicated under separate clauses in the price list (incl. amendment of collateral in a notarised or other form).
(2) Commission fee applies to certificates issued at a bank office. A certificate issued automatically in the Internet Bank is free for the client (for enclosing electronically to income tax return).
You can transfer your student loan from another bank to SEB. This is how you can transfer your student loan:
Taking a loan is an important decision, one that involves risks. We would like to help you in making an informed decision.
When applying for a loan you should do your homework:
You have the right to request information regarding our lending terms and to receive explanations before concluding the loan agreement as well as during its term. In case you have any questions, please contact us via the general contacts for SEB Pank.
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