OREANDA-NEWS.  May 10, 2012. After winning the tender announced by the Ministry of Finance of the Republic of Lithuania Siauliu bankas shall grant the state-supported credits to the students to cover their living expenses and to pay for the partial studies abroad, reported the press-centre of Siauliu Bankas.

Those students who have submittedthe  applications for the state-supported credit can address the nearest outlet of Siauliu bankas until May 18 regarding signing of the agreement.

Currently the bank shall be granting credits to cover the living expenses and to pay for the partial studies abroad under the international (interagency) agreements for the remaining period of the spring semester of 2012.

The maximum credit amount shall be assigned to living expenses and will be disbursed to the student in equal portions until July 1, the final year students are to receive it until the end of their studies. The amount is to reach LTL 3250 (the amount of the credit cannot exceed LTL 6500 over the year).

The total amount of the credits granted for partial studies under the international (interagency) agreements shall be transferred to the student’s personal account at once. It cannot exceed LTL 7800 per year.

The students shall start repaying the credits not later than a year after graduation or termination of their studies while the interest shall be paid immediately after receiving the credit. The period of the credit repayment - 15 years. The annual credit interest rate shall depend on 3 months VILIBOR rate and the Bank’s margin, which is 2.2 per cent.

Siauliu bankas is not applying any credit fees to the students. Visiting the Bank, the students must have a personal identification document. If a student cannot address the bank himself, than it can be done by an authorized person who ought to submit a letter of attorney in compliance with the applicable legal acts.

The Credit agreements shall be signed not later than within three business days after the documents are submitted to the Bank.  The first portion of the credit shall be disbursed within three business days after signing the state-supported credit agreement.