LHV will start offering student loans

6. August 2018

LHV Pank is in the process of bringing state secured study loans to market to expand the choice available to students when it comes to financing their studies. LHV will begin offering study loans on 27 August.

Yesterday, the agreement between the Ministry of Finance and LHV Pank was signed, which grants LHV’s clients a state security when applying for a study loan. According to Erki Kilu, Chairman of the Management Board of LHV Pank, people require different financial services in different periods of their lives, and the study loan is one of the first loan products that young people need. ‘Young people will now be able to finance their studies with the help of LHV. With this step, our selection of loan products available to private clients is complete, since the study loan was the last loan type missing from the ranks of our home loan, private loan and other loan products,’ said Kilu.

LHV’s study loan is a state secured loan for financing education-related expenditures, with the following being the main terms and conditions for the 2018/2019 academic year:

  • loan amount up to €2,000,
  • annual interest fixed at 5%,
  • loan is available to students studying in Estonia and abroad,
  • the security is a surety provided by either two separate private persons or a mortgage on an immovable located in Estonia,
  • the loan repayment period is associated with the nominal period for studies.

LHV will begin accepting study loan applications on 27 August 2018.

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