OREANDA-NEWS. August 12, 2009. Student loan contracts can already be entered into at SEB branches and in the internet bank U-Net. The maximum student loan in the new academic year is 30,000 kroons and the interest rate of the loan is 5% per year, reported the press-centre of SEB.

In addition to the student loan, SEB also offers students free SEB ISIC cards, which function as official student identification cards as well as bankcards and allow holders to benefit from numerous student discounts all over the world. Students can join the SEB Youth Package, which allows them to take care of their everyday banking matters for just 5 kroons per month.

SEB will transfer the loan amount to the accounts of first-year students from 1 October and to second-year and older students from 15 September, provided that the terms and conditions for receipt of the student loan have been complied with. Students do not need to take the maximum loan amount at once and they can apply for more of the loan amount during the academic year as and if they need it.

The two surety providers, both of whom are private persons, need to sign the surety contract in U-Net after the student loan agreement has been entered into. Student loans can also be secured with property located in Estonia instead of sureties.

Borrowers who have taken out their student loans in previous years, but do not wish to receive this year’s loan amount automatically or prefer to take out the loan in instalments, should submit the relevant application on the form approved by the bank at any SEB branch or sent it by post by not later than 5 September.