OREANDA-NEWS. October 25, 2012. Ukio bankas is already accepting students’ applications for State-supported loans in the autumn semester of the academic year 2012-2013. In this semester loans can be used to pay the costs of living, the cost of studies or for partial studies under international (cross-institutional) agreements, reported the press-centre of Ukio Bankas.

Ukio bankas invites students to take advantage of the opportunity to receive a State-supported loan extended by Ukio bankas under favourable conditions:  no loan administration fee, no fees for early repayment of the loan, and no commitment fee.

“We invite students to take the option of receiving a State-supported loan. Ukio bankas does not apply to them a loan administration fee, fees for early repayment of the loan, or commitment fee. The matter of funds is of great relevance to students and these loans, therefore, is a perfect opportunity to borrow funds under favourable terms,” Mindaugas Pasvenskas, Head of Ukio bankas Credit Division, said.

State-supported student loans are charged a variable interest rate consisting of three-months VILIBOR and 2.3 per cent margin. Ukio bankas offers one of the lowest annul rates of the loan cost on the market – from 3.6 per cent.  Loans are available to students appearing on the list of students eligible for concluding agreements on State-supported loans composed by the State Studies Foundation. Loans on preferential terms can be issued: to pay costs of living – up to LTL 6,500; to pay for partial studies under international (cross-institutional) agreements – up to LTL 7,800; to pay the cost of studies. Loans may not exceed the amount fixed by the State Studies Foundation. Loan repayment term: within 15 years from the beginning of loan repayment in equal monthly instalments. Beginning of loan repayment: 12 months following completion of the studies, termination of the studies or striking the borrower off the list of students.

Ukio bankas also offers a special product package to all students “All you have to do is study”, which ensures the provision of all financial services relevant for the student. In addition to State-supported loans Ukio bankas also makes consumer loans under one of the most favourable conditions on the market. Consumer loans granted by Ukio bankas range from LTL 1,000 to LTL 40,000. Interest starts from 6 per cent if borrowed in euro, and from 7 per cent if borrowed in litas. Loan repayment term – up to 5 years. Consumer loans are available to individuals from 18 years of age who have received regular income for at least 6 months.

More detailed information on State-supported student loans, consumer loans or other lending solutions is available at Ukio bankas branches and client service units or on the website www.ub.lt.