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SEB Student loan

SEB Student loan

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Loan amount up to

15 000 EUR

Interest rate

4%

+ 6 month EURIBOR rate

Repayment term up to

10 years

Commencement of principal sum repayment

only in the year

after the end of studies

How to apply for the loan

Documents required

  1. Application
  2. Agreement with the educational institution and tuition fee schedule.
  3. A document proving your income, if you don’t receive salary in an SEB account. For example, an account statement for the last 6 months.
  4. If you will use a guarantor, whose salary is not received in an SEB account, a document certifying the guarantor's income for the last 6 months is required.

Submission of documents

You can apply for the student loan both remotely and in person at SEB.

If you’re a customer of SEB, you can submit the mentioned documents in your internet bank:

  1. Log into your internet bank and open section Additional services – E-documents.
  2. Press button “Upload an e-document” and attach the documents.
  3. Choose “Loans” as document’s topic and “Consumer loan, credit card” as the sub-topic.
  4. Press button “Next” and sign the documents.

If you’re not a customer of SEB or don’t use the internet bank, but you have access to qualified Smart-ID or eID card:

  1. Open the SEB E-document site and log in with authorisation tool available to you.
  2. Press button “Upload an e-document” and attach the documents.
  3. Choose “Loans” as document’s topic and “Consumer loan, credit card” as the sub-topic.
  4. Press button “Next” and sign the documents.

If you cannot use any of the mentioned remote methods, we invite you to submit documents at one of SEB customer service points. To receive service in person, please book a meeting.

Signing the agreement

We evaluate each application individually and will inform you about our decision. We will reach out to you if there’s a need to clarify information.

If you’re not an SEB customer, you (and guarantor) need to open a current account with SEB before signing the agreement.

If our decision is positive, you will be able to sign the agreement remotely.

In case of questions or uncertainties, please call us at +371 26668777, write to us in the internet bank or use chat on our website.

More information about the SEB Student loan

   
Amount of Funding

From 2 000 EUR up to 15 000 EUR

The sum of the loan depends on your income and your guarantor's income.

Collateral on the Loan

Your monthly income and the monthly income of your guarantor serve as the collateral for the loan.

The guarantor is not required if your regular income exceeds 450 EUR per month (after tax).

Loan payment must not exceed 40% of your net income together with your other loan and lease payments.

Conditions

You will receive a study loan if you are a student at any of the accredited and/or licensed higher educational establishments or colleges in Latvia.

Loan Payments

The sum of the loan is transferred to the account of your educational establishment.

Loan Repayment

Loan repayment period is up to 10 years. The repayment of the principal sum of the loan must start 12 months after graduation.

Bank support during repayment of the loan

You can suspend the repayment period of the loan, if:

  • you continue your studies;
  • if you are on pregnancy or child-birth leave;
  • if you are on child-care leave before the child reaches the age of 1.5 years and do not work full time;
  • if you are unemployed.
   
Interest rate of the loan

4 % per year + 6 month EURIBOR rate*

Repayment of the loan during studies

During studies the borrower only repays interest on the loan

Repayment of the principal sum after studies

The student shall commence the repayment of the principal sum starting from the 12th month after graduation. The loan repayment period is 10 years.

If the student terminates their studies before graduation, the repayment of the principal sum must start from the 4th month after such termination. The loan repayment period is 5 years.

* 6M EURIBOR – the EURIBOR index determined by the European Banking Federation is the rate at which banks borrow funds on the interbank market of the European Union.

SEB banka offers a free of charge consultation on Study Loan for all students.

Service1 Fee
Reviewing and evaluation of application Free of charge
Processing of the loan2 8.00 EUR
Repayment of the loan before maturity Free of charge
Changes to the loan agreement on the customer's initiative2 15.00 EUR
Receipt of a repayment schedule for the loan principal 8.00 EUR

1 The fee for issuing of references (per document) is set in “Processing of Customer's documents“ section.

2 The commission fee must be paid on the day the agreement or amendments are signed.