The Educational Bank Loan program is another form of financial aid offered to students of AUE-FON. All creditworthy individuals with permanent and temporary employment, with regular monthly income are eligible for a bank loan. The borrower needs to have a good solvency and no unfavorable information in the credit file.

Loan Conditions
The interest will be borne by AUE-FON for all eligible semesters.

Type Subsidized purpose consumer loan
Amount Up to 250.000,00 MKD
tenor Up to 48
Grace period Up to 12 months
Upfront fee 0%
Nominal interest rate* 5,00% fixed interest rate for MKD
Interest cost of these type of loans will be calculated and collected fully up-front from AUE.
Type of repayment equal monthly installments
Fee for prepayment 0%
No expense check in MKB
Without the cost of applying for a loan application
Collateral Loan agreement
Creditworthiness 1/2 of the monthly income of the client

Eligibility
creditworthy individuals with permanent and temporary employment
regular monthly income
good solvency
no unfavorable information in the credit file.

Guarantor Eligibility
Possibility of including a guarantor upon decision of credit committee.

Documents Required by the Bank
All clients who will apply for this type of loan needs to submit the following documentation depending on the client’s category:

For employees in public administration, INC. and financial institutions:
Loan Application
Employment confirmation and statement of transactional account for last 6 months
Copy of ID card

Necessary documentation for employees in private companies:
Loan Application
Employment confirmation and statement of transactional account for last 6 months
Copy of ID card
M1/M2 form
Any other documents deemed necessary by the bank

Upon delivering of all documents, the loan procedure is very fast and the loan can be approved within several working days.