Consumer Loan
Unsecured “Youth Loan”
Characteristics
GENERAL CHARACTERISTICS OF AN UNSECURED CONSUMER LOAN FOR YOUTH
Advantage
Purpose loan with favorable price conditions intended for people aged 18 to 35 years old on the date of application
Without charges for premature repayment
Possibility of including life insurance
Possibility of including accident insurance
Amount: from 15.000 MKD to 1.500.000 MKD
Disbursement
The funds from the approved loan are disbursed to the individual's payment account at SB, from where they are transferred to the seller/service provider.
Currency: MKD loan
Term:
for MKD loans: Minimum 6 months and maximum up to 91,500 MKD - 60 months. From 91,501-300,000 MKD up to 84 months
for MKD loan with foreign exchange clause from 6 to 120 months
Purpose of loan
University degree education in the Country or abroad
Senior trip
Master and PhD studies
Further education (such as IT Academy, specialization etc.)
Work & travel programs
Driving licensees (B, C, D or E category)
Pricing
Interest rates
| Other clients | SB payroll/pensioner |
Fixed IR 5y – MKD/EUR without insurance | 4.20% | 4.20% |
Fixed IR 5y – MKD/EUR with accident insurance | 4.00% | 4.00% |
Fixed IR 5y – MKD/EUR with life insurance | 3.80% | 3.80% |
Variable IR – MKD/EUR | 8.50% | 7.65% |
Repayment
Equal monthly annuity.
For all SB transaction account holders, repayment is possible with a standing order or through SB digital services.
Charges
Applicative fee MKD 600 for all clients
MKD 2000 processing fee, included in loan amount
Notary solemnization for loans above MKD 920.000 / EUR 15.000
Consent from spouse for loans between MKD 610.000 – MKD 920.000
Criteria and documentation
Criteria:
The beneficiary user of the loan may be an unemployed and in that case any person acceptable to the Bank may apply as a loan applicant, while the beneficiary user must be included in the loan as a co-borrower.
The beneficiary user can be min. 18 years old and max. 35 years old on the day of application
If the beneficiary user is a person aged 18 or 19, the inclusion of a co-borrower is mandatory
Own contribution: Minimum 15% of the amount of the pro-invoice for loans in the amount of over MKD 1,200,000 / EUR 20,000
For SB payroll/non-SB payroll clients and non-SB pensioners - from 20 years at application up to 67 years on loan repayment date.
For SB pensioners - up to 67 years on loan repayment date (in case when co-borrower/s is/are included and all the loan participants are pensioners at the moment of application, the age of any of the loan participant on loan repayment day can be up to 70 years, whereas one of the loan participants has to be with maximum age of maturity up to 67 years).
Co-borrower, in addition to a person who is a member of the immediate family (parent, child, spouse), can also be a person who meets the following conditions:
to be a client with a salary in SB, or
to be a client with an existing credit product in SB or another bank, with a good credit history
Required documents when applying
Application for consumer credit (for the loan applicant and co-borrowers)
Pro-invoice from the seller of the products / services
Copy of ID card or passport (for the borrower, co-borrowers and the mortgage debtor)
For clients who receive a salary at SB, only a transaction account statement for the last 6 months is required for all others: Pension check / Certificate of regular employment, certified and signed by authorized persons at the employer (not older than 30 days), and if necessary, other documents as proof of the amount of monthly income for 6 months.
Birth certificate (not older than 6 months) / marriage certificate issued by the RSM (for the borrower and co-borrowers) – only for loans with Notary solemnization
Consent to submit a report from the Macedonian Credit Bureau AD Skopje (for the borrower and co-borrowers)
Other documents at the request of the Bank