Student

Loan type

Education loan.

Purpose

Payment of tuition contracts in educational institutions operating in the Republic of Uzbekistan for full-time education.

Borrower

Citizens of the Republic of Uzbekistan enrolled or studying on a fee-paying basis in state, non-state, private, and foreign higher or professional educational institutions located in the Republic of Uzbekistan.

Co-borrower

Individuals — citizens of the Republic of Uzbekistan with stable income (salary, pension, and other income).

Income requirement for co-borrower / guarantor

Continuous verified income for at least 9 months.

Loan amount

According to the cost of the educational institution’s contract.

Loan term

Study period + 90 months.

Grace period

Study period + 6 months.

Interest rate

14% per annum for women; Central Bank of Uzbekistan base rate for men.

Loan currency

National currency of the Republic of Uzbekistan — UZS.

Loan disbursement form

Transfer of the loan amount to the educational institution’s demand deposit account according to the contract.

Interest repayment

Monthly

Principal repayment

Equal monthly payments starting from the 7th month after graduation, over 7 years (or according to the client’s application).

Schedule type

Annuity or differentiated.

Collateral

Up to 100 million UZS

• personal guarantees and/or insurance policy against default risk;

Above 100 million UZS

• collateral meeting bank requirements;

• For women and children from families included in the Unified Social Protection Register — the loan may be granted without collateral upon submission of supporting documents.

Collateral amount

at least 125% of the loan amount (at least 130% for related parties).

Debt burden

acceptable level not exceeding 50% of total monthly obligations.

Passport or identification ID card;

Education contract with an educational institution of the Republic of Uzbekistan