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Crédito Universitário com Garantia Mútua

2.114% TAEG

Invest in your future with the Bank that believes in you.

Advantages

Invest in your future with the Bank that believes in you

  • To finance Undergraduate Degrees, Masters, PhD's or for technological specialization courses in Portugal or abroad;
  • Total term up to 120 months;
  • No File Fee or early payment fee.

Submit your credit request at any Millennium bcp Branch.

Fees and Commissions

Fixed rate for the total term of the contract (including waiting and repayment periods), calculated as follows:

  • Euribor swap rate for the term corresponding to the term of the operation, rounded up to the year multiple immediately above, plus a maximum spread of 1.25%.
  • this spread will be reduced by 0.25% for students who can prove they are scholarship holders.
  • the rate will be rounded to three decimal places, rounding upwards when the fourth decimal place is equal to or above five and rounding downwards when the fourth decimal place is under five, in accordance with the legislation in force.
  • The Euribor swap rate will be disclosed on the Intercontinental Exchange (ICE) website, in https://www.theice.com/marketdata/reports/180, reported to the 11.00 am fixing on the second business day prior to the date the agreement is signed.

2.114% TAE (annual effective interest rate), 2.095% TAN (annual nominal rate), (10-year swap rate of 0.845% and spread of 1.250%), with a monthly interest payment of € 0.76 for every € 416.67 of capital lent by the Bank. At the end of the drawdown period, there will be a monthly payment of interests of € 27.24 during 12 months (additional capital grace period) and a capital and interests payment of € 222.93 during the settlement period for a € 15.000 loan with a 120 months term, with a 48 months grace period (utilization period of 36 months + 12 of principal grace period) and a settlement period of 72 months. Subject to credit risk assessment.

Credit is granted subject to Banco de Portugal’s macro-prudential rules.

Features

  • Euribor swap rate % for the term corresponding to the term of the operation, rounded up to the year multiple immediately above, plus a maximum spread of 1.25%. This spread will be reduced by 0.25% for students who can prove they are scholarship holders.
  • Terms:
    • Drawdown period: from 1 to 6 years (this term must not exceed the duration of the course or the time remaining until the end of the course)
    • Principal grace period after the capital drawdown: up to 2 months (optional)
    • Capital amortization: between 6 to 10 years
  • During the capital drawdown period, the monthly payments shall only include interests.
  • Amounts from € 1.000 to € 5.000 per year of studying if the course is completed without fail, with a maximum of € 30.000.
  • Capital use - the capital will be drawn in monthly equal tranches.
  • Early repayments, full or partial, are free of charge.

The effective granting of the credit operations herein presented depends on the prior appraisal and decision on the credit risk.

How to subscribe

To know more about the eligibility conditions of the students and apply for the University Credit Line with Mutual Guarantee, visit one of our Millennium bcp Branches.

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