Czech Republic - Guidance To Apply Student Loan

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Procedure

Student Loan Programs - Banks:

1. Gather all documents you may need to present or submit in order to apply for a loan.
2. Submitting an application:
   1. In person: Most loan applications are done in person, with the applicant or his/her guardian going to the bank, you may set up an appointment with the bank by giving them a ring. Submit the completed application form along with other required documents. Note: Banks may ask you to submit additional documents aside from the ones listed on the 'Required documents' section. It will be better if you can get in touch with the bank's representative/lending officer/customer service by phone first before you go to the bank's branch. They can give you a checklist of required documents, answer some of your queries and direct you to the nearest branch of the bank in your area.
   2. Online: To save you some time, you may also check if you can start your loan application online. Some banks will ask applicants to complete a preliminary application to be submitted electronically, with some of the required documents sent via email. After reviewing the application, a lending officer will contact you to discuss your application.
3. Once your application is approved, the bank will ask you or your parent/guardian to sign the loan agreement. Note: Read the loan agreement carefully before you sign, take note of the interest rate, grace period, when you will start repaying the loan and any penalties in case of default.

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Required Documents

Some of the documents that a bank might ask applicants to submit or present:

• Completed application
• 2 ID documents (personal ID card and passport for example)
• documents relating to the type of loan security you chose

Note: The bank may ask you to present additional documents, check the bank's website first before going to their branch office to apply for a loan.

Office Locations & Contacts

Please list down the office locations that can be approached for applying. External links can also be used specifying office locations.

Eligibility

Students enrolled in a university, college or a secondary school in the Czech Republic or abroad may apply for a student loan.

Fees

Some banks offering student loans does not charge a fee for arranging the loan.

Validity

Repayment period for most student loans starts after course completion.

Repayment of the principal can be deferred for selected types of study loan schemes until after the course has ended, borrower will only need to pay the interest of the loan amount.

Note: The loan can be paid off early at any time in part or in full with no penalties. Get in touch with your bank to know more.

Documents to Use

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Sample Documents

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Processing Time

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Related Videos

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Instructions

Student loan - banks:

• Student loans can be used by the borrower exclusively for personal, non-commercial requirements (tuition fees, a PC or study aids etc.)
• Disbursement of funds: once or installments
• Some banks offers student loans with maximum maturity of 10 years
• Guarantee: If the loan applicant does not have his or her own regular income, the may ask you to secure the loan with a guarantee, it may be in a form a third party guarantee or deposit with the bank

Before applying for a student loan:

• Make sure that you can present and submit all the required documents that the bank is asking for.
• Take note of the interest rate, conditions, and repayment scheme that the bank is offering.
• You might also need to consider the bank's customer service before you apply for a loan, since student loans are usually long term, it will make transactions easier and can spare you from a lot of headache in the future if your bank has good and accommodating bank representatives or loan officers.
• It may be helpful if you can ask your university/college if they offer any loans to students or if they have partnered with any banks that offers student financing.
• Loan amount: You may not need to accept the entire amount of the loan the bank is offering you. Remember that what you are getting is not a grant but a loan, meaning you will need to pay back everything plus interest sometime in the future.

Required Information

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e.g.
1. Date of Birth.
2. City or County of Birth.

Need for the Document

Some banks in the Czech Republic offers student loans that can be used to pay for school related expenses like tuition fees, travel, accommodation and daily expenses.

Student loan schemes are designed to make the student's academic life easier with its interest rate substantially lower than other personal loans offered by the bank and repaying the loan may be deferred while the student is still in school.

Here is a guide that can help students apply for student/education finance in the Czech Republic.

Information which might help

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Other uses of the Document/Certificate

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External Links

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Others

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