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SEB offer for students of Stockholm School of

Economics in Riga

IĻja Nogičevs

Rīga, 2010

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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

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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

For detailed information visit www.seb.lv or call 8777

MK noteikumi 220 “Kārtība, kādā tiek piešķirts, atmaksāts un dzēsts studiju kredīts un studējošā kredīts no kredītiestādes līdzekļiem ar valsts vārdā sniegtu galvojumu”

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Application and disbursement

Student submits to SSE

Riga(fills up

application)

SSE Riga decides

Information is accepted by SZA

Student signs a contract with

SEB

Guarantor signs a

contract with SEB

SEB signs a Guarantor

contract with Latvian

government

Loan is disbursed

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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%

EU

RO

Studies Studying

Repayment

during studies

State covers interest fee

Student covers interest fee (in case, if interest is higher than 5%, Student pays 5%, difference is paid by state)

After graduation

Student repays principal amount and interest (in case, if interest is higher than 5%, Student pays 5%, difference is paid by state)

After termination of studies

Student repays principal amount and all interest

LA

TI

Repayment

during studies

Student pays Latu margin minus 1.85%.

Student pays Latu margin.

After termination of studies or After graduation

Student pays Latu margin.

1,80% 3.65%

3.65%

1.92%

1.92%

1.92%

Current rate till 31.12.2010

0%

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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

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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

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Price list

Service Amount

Application review Free of charge

Agreement processing 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

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Special offer for SSE in Riga Students

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2010/2011SEB

banka

Studies loan for SSE in Riga

SEB banka Studying loan for SSE in Riga

SEB banka Study loan

Collateral

Guarantor - Stockholm School of Economics in Riga

Borrower or guarantor incomes

Loan amount8000 LVL 11000

EUR11000 EUR

8000 LVL

Loan term up to 10 year up to 10 year

Interest rate

1.5% + 6M RIGIBOR or

4% + 6M EURIBOR

1.5% + 6M RIGIBOR or

4% + 6M EURIBOR

8.5% + 6M

EURIBOR

3% + 6M RIGIBOR

Commition Free of charge 5 LVL

Commition due changes

5 LVL 10 LVL

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Price listSSE in Riga

SEB bank

Service Amount Amount

Application review Free of charge

Free of charge

Agreement processingFree of charge

LVL 5,00

Repayment of the loan before maturity

Free of charge

Free of charge

Processing of documents in connection with amendments to loan agreement or payment schedule upon customer's initiative

LVL 5,00LVL

10,00

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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.

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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.

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Example of monthly payments for state guaranteed and SEB special offer loans

   State guaranteed

student loan  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

Total interest rate  

1% + 6M RIGIBOR*

0.89% + 6M EURIBOR*  

1.5% + 6M RIGIBOR**

4% + 6M EURIBOR**

Interest rate for student (on 26.08.2010)   1.80% 0%   3.53% 5.14%

             

Interest payment for first months   Ls 1.80 € 0.00   Ls 3.60 € 7.50

           

First year tuition fee LVL 2`460 or EUR 3`500

50% 50%

•* - RIGIBOR and EURIBOR are calculated in January and July

•** - RIGIBOR and EURIBOR are fixated at disbursement day

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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

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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 SproģisTelephone +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.lvor call Client center number 8777

Contacts

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Thank you for your attention!