IĻja Nogičevs Rīga, 2010 SEB offer for students of Stockholm School of Economics in Riga 1 Content State guarantee student loan – Loan types – Application and disbursement – Interest rates – Collateral – Price list – Repayment of the loan Special offer for SSE in Riga Students SEB Student loan Student Bank Package 2 Loan types Studies loan – tuition fee. For 2010/2011 year maximal amount is LVL 1`246 per year. Studying loan – for everyday expenses. Maximum amount LVL 120 or EUR 170. It is possible to receive Studying loan every month, except July and August MK noteikumi 220 “Kārtība, kādā tiek piešķirts, atmaksāts un dzēsts studiju kredīts un studējošā kredīts no kredītiestādes līdzekļiem ar valsts vārdā sniegtu galvojumu” For detailed information visit www.seb.lv or call 8777 3 Application and disbursement Student submits to SSE Riga (fills up application) Student signs a contract with SEB SSE Riga decides Guarantor signs a contract with SEB Information is accepted by SZA SEB signs a Guarantor contract with Latvian government Loan is disbursed 4 Interest rates and repayment of the loan Euro loans margin is determined as 6M EURIBOR + 0,89% Latu loans margin is determined as 6M RIGIBOR + 1% Repayment EURO during studies Studies Studying State covers interest fee Student covers interest fee (in case, if interest is higher than 5%, Student pays 5%, difference is paid by state) 1.92% 0% After graduation Student repays principal amount and interest (in case, if interest is higher than 5%, Student pays 5%, difference is paid by state) 1.92% LATI After termination of studies Student repays principal amount and all interest Repayment Student pays Latu margin minus 1.85%. 1,80% during studies After termination of studies or After graduation 1.92% Student pays Latu margin. 3.65% Student pays Latu margin. 3.65% Current rate till 31.12.2010 5 Collateral for State guarantee student loans Guarantor - private person: – income is greater than minimal salary – if Guarantor guarantees for several people, income should be greater than minimal salary multiplied by number of guaranteed loans – if Guarantor has loans, monthly loan repayment payments should be less than 40% from Guarantors income Real property (property should be registered in Latvia) Municipality 6 Process for Guarantors – Estonian and Lithuanian citizens Conditions for guarantor are similar as for Latvian citizens – Guarantor has to visit SEB Latvia branch in order to open an acount – To verify his/her income, guarantor needs to hand in account statement (it should be translated to Latvian, Russian or English language and confirmed with apostil) – Guarantor has to sign an agreement with SEB 7 Price list Service Application review Agreement processing Amount Free of charge LVL 3,00 Repayment of the loan before maturity Free of charge Processing of documents in connection with amendments to loan agreement or payment schedule upon customer's initiative LVL 10,00 8 Special offer for SSE in Riga Students 9 2010/2011 SEB banka Studies loan for SSE in Riga Collateral Loan amount Loan term Interest rate Commition Commition due changes SEB banka Studying loan for SSE in Riga Guarantor - Stockholm School of Economics in Riga 8000 LVL 11000 EUR up to 10 year 1.5% + 6M 1.5% + 6M RIGIBOR or 4% + 6M EURIBOR RIGIBOR or 4% + 6M EURIBOR SEB banka Study loan Borrower or guarantor incomes 11000 EUR 8000 LVL up to 10 year 8.5% + 6M 3% + 6M EURIBOR RIGIBOR Free of charge 5 LVL 5 LVL 10 LVL 10 Price list SSE in Riga SEB bank Amount Amount Application review Free of charge Free of charge Agreement processing Free of charge LVL 5,00 Repayment of the loan before maturity Free of charge Free of charge LVL 5,00 LVL 10,00 Service Processing of documents in connection with amendments to loan agreement or payment schedule upon customer's initiative 11 Repayment of the loan Conditions Repayment period In case, if the Student has successfully graduated his or her studies in the College The whole received Loan must be repaid within 10 years starting from the 6th (for SEB bank Study loan from 12th) months from graduation. In case, if the Student has terminated his or her studies in the College thus by not finishing the study programme The whole received Loan must be repaid from the 4th month from termination of studies. In such a case, the Loan repayment term is 5 years. 12 Prolonging of the loan if Student Is in pregnancy or maternity leave; Is in leave for child care until the age of one and a half years and is not working full time; Continues his or her studies for the Master’s degree. 13 Example of monthly payments for state guaranteed and SEB special offer First year tuition fee loans LVL 2`460 or EUR 3`500 50% State guaranteed student loan 50% SEB special offer for students of SSE in Riga Currency LVL EUR LVL EUR Loan amount for 1st academic year 1`246 1`774 1`214 1`726 1% + 6M RIGIBOR* 0.89% + 6M EURIBOR* 1.5% + 6M RIGIBOR** 4% + 6M EURIBOR** Total interest rate Interest rate for student (on 26.08.2010) Interest payment for first months 1.80% 0% 3.53% 5.14% Ls 1.80 € 0.00 Ls 3.60 € 7.50 •* - RIGIBOR and EURIBOR are calculated in January and July •** - RIGIBOR and EURIBOR are fixated at disbursement day 14 Student Bank Package-the largest youth package Bank account; International payment card; Discount Card Euro <26 options; Ibank; SMS Banking; Insurance policy; Topping-up of phone cards; Participation in the 2nd pension pillar 15 Contacts Information about Student loans: Toms.Strelis@seb.lv ILja.Nogicevs@seb.lv Loan agreement processing Special offer for SSE in Riga Students: Ziemeļu branch, Kr.Valdemāra street 21, Riga Jānis Sproģis Telephone +371 6 777 9826 E-mail Janis.Sprogis@seb.lv State guarantee student loan and SEB Bank Student loan: In every SEB branch! For more information visit http://www.seb.lv or call Client center number 8777 16 Thank you for your attention! 17