Saturday, November 26 2011 16:54

Unibank offers U-Student+ education loan to students


ArmInfo. Unibank offers students a U-Student+ loan for payment for their education at universities. The press service of Unibank told ArmInfo that the amount of the loan does not exceed 1 mln AMD. The loan is provided for 1 year at 20% p.a. The redemption of the loan is made monthly, in equal payments.

According to the source, the loan is provided to the students or their families' members, who have no negative credit history. To receive the loan, one should present the passport, the social card and a statement of employment or a statement from the University. After signing of the credit agreement, the money is transferred to the university's account. The loan application is considered within no more than 3 working days after submission of all the necessary documents by the customer.

"The new loan product of Unibank allows the students to pay for the education in due time if they are short of money. The loan is provided in the amount of tuition for one semester, but after redemption of the loan the customer can apply for a new loan for the next semester. As the loan is provided for education, the Bank requires no initial contribution or mortgage security, but only the guarantee of individuals", said Tsovinar Vardanyan, Director for Consumer and Card Crediting of Unibank.

To note, as of the end of Q3 2011, Unibank joined the list of the top five leading Armenian banks by lending to individuals. As of 30 Sept 2011, the volume of the loans provided by Unibank to individuals amounted to 24.3 bln AMD.
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