Type of loan

Target group

• For students from universities in the Republic of Macedonia and abroad, who wants to improve their education and earn professional experience abroad.

Loan amount

• Maximum amount of credit exposure per loan account is 200.000 MKD – denar loan*

Purpose

For all expenses for the realization of the work & travel program:

·Application fees

·Visa

·Airline ticket

·Travel costs

· Funds for initial residence

Repayment period

• 12, 24, 36, 48 and 60 months
• Maximum grace period of 12 months

Interest rates

Security

• Endorser/s, and/or verification of bill of exchange in the form of notary act and without endorser/s (depending on the granted loan amount and credit history at FULM Savings House)

Repayment

• Monthly by paying annuities (monthly installments) – for loans with repayment period from 12, 24, 36, 48 and 60 months

Fees

• According to FULM Savings House pricelist on the day the contract is concluded

Minimum loan criteria

• Individuals, citizens of the Republic of North Macedonia 
• The borrower gets more favorable conditions if he is a member of FULM 

Minimum required documents when applying for loan

• Copy of valid ID card or passport of the borrower and endorser/s 
• Verified certificate for net income and existing bans for net salary from the endorser/s 
• Copy of the student’s record booklet (borrower)
• Completely filled in loan applications forms

Advantages

•Payment in cash or to a payment account
• No fee is charged for premature repayment of the loan 
• Favourable conditions during anew applying for loan