Educational loan Sberbank: conditions and procedure for issuing

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Let's be honest. Not everyone knows about the existence of the very possibility of obtaining a loan for education. This is due both to the lack of financial literacy of the population, and to the low advertising promotion of this type of loans by the banks themselves.

What's special about an education loan?

Only every tenth person who applies to the bank for funds for education (as a rule, this is a higher education) uses a loan for education. Any bank is interested in offering the client its most popular "express loan", with the highest possible interest rate. And not every financial institution has the very possibility of obtaining such a loan.

It is very important to understand how a student loan differs from a regular, familiar cash loan. All types of bank loans are divided into 2 types:

• client receives cash in hand;
• cashless transfers, also referred to as targeted transfers.

For the latter, the interest rate is always lower. And educational is precisely a targeted loan.

Educational loan from Savings Bank

Sberbank has been providing educational loans for sixteen years already, having opened the program in 2000. At the start, it was not popular, but later the number of loans issued for education increased many times over. The popularity is due to a number of advantages characteristic of the largest bank in Russia:

• all leading educational institutions of the country participate in the loan program;
• the amount covers 100% of the cost of training;
• 75% of the refinancing rate is paid by the state for the client;
• no deposit or compulsory insurance requirements;
• Sberbank does not charge commissions;
• maturity is more than ten years, and during the training will have to pay only interest;
• loan is issued to students not only full-time, but also part-time, as well as evening forms.

The last point is especially interesting, because it is thanks to him that the loan for education has become so popular. The main mass of people taking educational loans are not full-time students, but people who have chosen part-time or evening education. The average borrower lives in the Volga region or the Ural region (the largest number of loans is taken there).

List of educational institutions

The number of educational institutions for education in which you can get an educational loan from Sberbank is constantly increasing. The list of universities includes 128 names. Among them:

• Moscow State University named after M. V. Lomonosov.
• Peoples' Friendship University of Russia.
• MGIMO MFA of Russia.
• MSTU named after N. E. Bauman.
• State University of Management (SUM).

The largest St. Petersburg universities and other universities throughout the country, including the Far East region, also signed contracts with the bank. Regardless of which educational institution is chosen, the client can count on an incredibly low interest rate. All this thanks to government assistance.

Government subsidies

Not everyone has enough budget places. The way out for those who did not pass the points is a commercial form of education. To increase the availability of this model of education, a program of state support for those who took educational loans was created. Sberbank was called upon to implement it. Educational credit with state subsidies is much more profitable than similar loans issued on market terms.

Support is that the government repays part of the accrued interest overpayment for the borrower. For an educational loan from Sberbank, the amount of state subsidies is equal to three quarters of the current refinancing rate set by the Central Bank.

Example: with a loan rate of 15% and a Central Bank refinancing rate of 10%, the client receives a discount from the state in the amount of 7.5%. Thus, instead of 15 percent, he will pay only half, that is, 7.5 percent. The rest of the amount to Sberbankcompensates the Russian government.

Terms of receipt

Russians associate Sberbank with the authorities. It is believed that it is completely state. This has its pros and cons. The undoubted advantage is that the bank is always at the forefront of innovative transformations. Has access to cheap, affordable public money. And thanks to its gigantic reach and the same profit, it can guarantee conditions that competitors cannot offer.

The educational loan from Sberbank is no exception, the conditions of which are really the most favorable, compared to other offers. To qualify for this loan, you must meet the following criteria:

• be a student of an educational institution cooperating with Sberbank;
• age from 14 years old (before reaching the age of 18, the client will need a co-borrower);

Citizens under the age of majority will need to provide the written consent of the borrower's representatives, birth certificate, permission from social authorities.

Cash is issued under the following conditions:

• currency - Russian ruble;
• current interest rate is 7.62% per annum (including government support);
• loan amount is equal to the full cost of education (100%);
• maturity - up to ten years after graduation.

All these conditions apply to education loans issued with government support.

Order of receipt

Loan can be obtained at a bank branch located in the region where the borrower or educational institution is registered. As soon as an educational loan is issued, Sberbank sends funds by bank transfer in favor of the university with which the borrower has an agreement. Payments are made in installments, for each semester.

Repayment nuances

The borrower does not make payments for the loan during the first three months after completion of training, thereby receiving time for employment. After this period, payments must be made in full. As mentioned earlier, during the training itself, you only need to repay the interest for using the loan. Moreover, in the first year we are talking about only 60% of the amount of accrued interest, in the second - 40%, and then in full.

Early/partially early repayment is also possible. For this, an application is written indicating the date and amount of the contribution, the minimum limits of which are not defined. There is no additional fee for this. In other words, when applying for an educational loan with state support, Sberbank tries to ease the burden of the borrower as much as possible.

Customer opinions: to take or not to take?

What is the general client and expert reaction to an educational loan at Sberbank? Reviews and opinions of analysts from leading business publications indicate that the service is popular and turned out to be quite successful.

The bank's loan portfolio is constantly growing. Overdue percentageloans in this category is close to the margin of error. There are, of course, a number of complaints, but they are all of a technical nature or come from failed clients.

Of the pluses, they note the fact that when applying for an educational loan, Sberbank does not require any collateral. For an applicant who finds himself in a standard situation, when there were not enough USE scores, and the desire to get a diploma has not disappeared, such a loan is a real salvation. And for low-income families, such a solution is often the only one.

The speed of consideration (up to four days), as well as the already mentioned low interest rate, are also important here. The main disadvantage borrowers call the psychological moment of waiting for "retribution". Indeed, with each year of study, the prospect of the need for calculation is also approaching. If the decision to take a loan is nevertheless made, then one thing is certain: Sberbank of Russia should be considered first. Educational loan is the most profitable here so far.