Depending on whether the course is free or not, you can receive:
- From €1,500 to €40,000. We can finance 100% of the total cost of your course. We will provide additional cash of €6,000 for any expenses that may arise, such as equipment, books, rent and moving expenses, without requiring additional supporting documents
- From €1,500 to €6,000. This applies if you course is free, such as public universities, subsidised seminars, etc.
The interest rate is variable
. It currently stands at 11.85
Interest rates are also subject to the Law 128/1975 levy. Today it stands at 0.60%.
See an example of the overall APR for the Consumer Loan for Knowledge and Skills
The loan term depends on the loan amount:
- For €1,500 to €6,000 – from 6 to 60 months
- For €6,001 to €40,000 – from 6 to 120 months
In all cases, when you repay the last instalment, you (the borrower) must not be aged over 70
We can offer grace periods for loans over €3,000. During the grace period you only pay the interest.
Loan approval fee
- For €3,000 to €6,000 – from 1 to 24 months
- For €6,001 to €40,000 – from 1 to 48 months
€150 deducted from the amount disbursed to you
Immediately, in one single instalment.
In monthly instalments
- Interest and capital together
- Only interest, for the entire duration of the grace period
In all cases, repayments must be made in the form of standing orders from your deposit account.
Early repayment option
You can repay all or part of the amount at any time at no cost.
The Payment Protection Plan comes as an option. This form of insurance coverage provides compensation for:
- Dismissal or temporary disability due to accident or illness, for full-time, private sector employees with a contract
- Hospital treatment and temporary disability due to accident or illness for freelance professionals, civil servants and part-time private sector employees with a contract
The compensation guarantees that:
- Your Consumer Loan for Knowledge and Skills instalments will continue to be paid as normal for a set period.
- Your insurance coverage will apply for the remainder of the plan, if you opt to continue it, even though you have fully or partially repaid the loan.