Raiffeisenbank launches campaign for student loans 2014/2015. The innovation this year is the option for students and PhDs to apply online for loan available under the program of the Ministry of Education and Science.

"To apply for loan is enough for the students to fill out an online application and send the scanned documents. So they will come to the bank only once to sign the contract after approval", said Maria Atanasova, Head of Department "Mass Banking". "Many of our customers of this program prefer to communicate with the bank online, rather than visit in person and appreciate the opportunity that we give them", she added.

To take advantage of the student loan program, students and doctorates must be full-time students who study at accredited university in Bulgaria for bachelor and master degree or PhD. They must be up to 35 years old, without having acquired the same degree and without interrupted education rights.

The loans under the program of the Ministry of Education and Science are with a fixed annual interest rate of 7%. Students and doctorates can benefit from a grace period for the entire duration of the education, during which the student/PhD does not owe any payments on principal and interest. Repayment of the loan begins within one year of the date of the state exam or the thesis, as will be repaid in equal monthly installments within 10 years. Borrowers do not owe fees and commissions on loan management; do not require a guarantor or co-debtor, nor proof of income. In addition, students receive accounts without opening fee and monthly maintenance for the duration of the loan, and debit card Visa Electron with discounts from the standard conditions of the bank.