IBSB UniCredit Consumer Financing Student Loan
As parents, we all want to offer our children the best possible start in life, and there is no better way to do this than by providing our children with access to a world-class educational experience at a top private school. This is more true now than ever before, as the gap continues to widen between public and private education.
We are also aware that we are living through increasingly uncertain times, and as such, we hope that our new partnership with UniCredit Consumer Financing IFN SA provides an financing plan option that enables some of our families to plan for the future education of their children with more surety.
Monthly Instalment Plan
The UniCredit Consumer Financing IFN SA Education Loan
eliminates the need to pay school fees up front in one a lump sum,
splitting the cost into manageable monthly instalments spread across the year.
What are the benefits?
Enables you to pay your school fees on a monthly basis (12 months) with 0% Fixed Interest Rate, for choosing the loan with life insurance, or 8% Fixed Interest Rate for the loan without life insurance.
Apply in advance,
ready for the start of term – 5% Discount offered by IBSB is applied to the School fee for payment in advance.
An Easy Process
Sign your credit
agreement through the
IBSB Admissions office.
The UniCredit Consumer Financing
IFN’s offer includes
optional Benefits of
a Life Insurance.
Eligibility Criteria for UniCredit Consumer Financing IFN
✔ Client category: Romanian citizens or foreigners with permanent residence in Romania
✔ Accepted age: 18 – 75 years at the end of the contract
✔ Accepted income categories: income from salaries, pensions
✔ Minimum length of service accepted for employees: 3 months at the current employer and 12 months total length of service
✔ Minimum income: 1,000 Ron pension & 1,524 Ron salary income
✔ CIM concluded for an indefinite period or if it is for a fixed period, the condition is that it has been extended at least once and does not expire in the next 3 months.
Please see below a sample ‘School Fee Payment Calculator’ applied to the current school fees:
Nursery Half Day
6,000 Euro (General School Fee) – 5% Discount = 5,700 Euro
Calculation in lei (the currency of the loan): 5,700 Euro x 5 Lei*=28.500 Lei
12M-0% interest rate
Loan amount: 28,500 Lei
Life Insurance (0.5% of amount x 12 months): 1,710 Lei
Administration Fee (10ron x 12 months): 120 Lei
Total Loan: 30,330 Lei
Monthly Payable (12 months): 2,527.5 Lei /month
*Representative calculation example for a “Promo 12M” Partner Credit offered by UniCredit Consumer Financing IFN S.A. (as a result of meeting the eligibility criteria), in the amount of 28,500 Lei, for 12 months, equal installments, with life insurance with a single financed insurance premium** (added to the loan value, resulting in a borrowed value of 30,210 Lei)/ without life insurance: fixed annual interest rate is 0% / 8%, file analysis fee 0 Lei (charged only in the case of granting the loan), monthly credit administration fee 10 Lei, monthly installment 2,527.50 Lei (also include the cost of insurance life)/ 2,505.04 Lei, the total amount payable is 30,330 Lei/ 30,060 Lei, APR 0.73% (calculated on the total amount borrowed 30,210 Lei) / 10.42%.
**The single life insurance premium financed by the Lender is 1,710 lei, calculated as a percentage of 0.5% of the loan value of 28,500 lei and multiplied by the 12-month loan period, resulting in a borrowed value of 30,210 lei. The cost of financing by the Lender of the single life insurance premium is 0 Lei, calculated by applying the annual interest rate of 0% to the value of the loan representing the single insurance premium.
Early Years Full Day
11,000 Euro (General School Fee) – 5% Discount = 10,450 Euro
Calculation:10.450 Euro x 5 Lei* =52.250
12M-0% interest rate
Loan amount: 52,250 Lei
Life Insurance (0.5% of amount x12 months): 3,135 Lei
Administration Fee (10 Lei x 12 months): 120 Lei
Total Loan: 55,505 Lei
Monthly Payable (12 months): 4,625.42 Lei /month
*Representative calculation example for a “Promo 12M” Partner Credit offered by UniCredit Consumer Financing IFN S.A. (as a result of meeting the eligibility criteria), in the amount of 52,250 lei, for 12 months, equal installments, with life insurance with a single financed insurance premium** (added to the loan value, resulting in a borrowed value of 55,385 lei)/ without life insurance life: fixed annual interest rate is 0% / 8%, file analysis fee 0 Lei (charged only in the case of granting the loan), monthly credit administration fee 10 Lei, monthly installment 4,625.42 Lei (equal installments, also include the cost of insurance life)/ 4,584.24 Lei, the total amount payable is 55,505 Lei/ 55,010.92 Lei, APR 0.40% (calculated on the total amount borrowed 55,385 Lei) / 10.05%.
**The single life insurance premium financed by the Lender is 3,135 lei, calculated as a percentage of 0.5% of the loan value of 52,250 lei and multiplied by the 12-month lending period, resulting in a borrowed value of 55,385 lei. The cost of financing by the Lender of the single life insurance premium is 0 Lei, calculated by applying the annual interest rate of 0% to the value of the loan representing the single insurance premium.
Primary School (Year 1-6)
14,900 Euro (General School Fee) – 5% Discount = 14,155 Euro
Calculation: 14.155 Euro x 5 Lei* = 70,775 Lei
12M-0% interest rate
Loan amount: 70,775 Lei
Life Insurance (0.5% of amount x12 months): 4,246.5 Lei
Administration Fee (10 Lei x 12 months): 120 Lei
Total Loan: 75,141.5 Lei
Monthly Payable (12 months): 6,261.79 Lei /month
*Representative calculation example for a “Promo 12M” Partner Credit offered by UniCredit Consumer Financing IFN S.A. (as a result of meeting the eligibility criteria), in the amount of 70,775 Lei, for 12 months, equal installments, with life insurance with a single financed insurance premium** (added to the loan value, resulting in a borrowed value of 75.021,5 Lei)/ without insurance life: fixed annual interest rate is 0% / 8%, file analysis fee 0 Lei (charged only in the case of granting the loan), monthly credit administration fee 10 Lei, monthly installment 6,261.79 Lei (equal installments, also include the cost of insurance life)/ 6,206.02 Lei, the total amount payable is 75,141 Lei/ 74,445.97 Lei, APR 0.30% (calculated on the total amount borrowed 75.021,5 Lei) / 9.93%.
**The single life insurance premium financed by the Lender is 4,246,5 Lei, calculated as a percentage of 0.5% of the loan value of 70,775 lei and multiplied by the 12-month loan period, resulting in a borrowed value of 75.021,5 lei. The cost of financing by the Lender of the single life insurance premium is 0 Lei, calculated by applying the annual interest rate of 0% to the value of the loan representing the single insurance premium.
Secondary School (Year 7-13)
17,650 Euro (General School Fee) – 5% Discount = 16,768 Euro
Calculation: 16768 Euro x 5 Lei* = 83.840 Lei
12M-0% interest rate
Loan amount: 83,840 Lei
Life Insurance (0.5% of amount x12 months): 5,030.4 Lei
Administration Fee (10 Lei x 12 months): 120 Lei
Total Loan: 88,990.4 Lei
Monthly Payable (12 months): 7,415.87 Lei /month
*Representative calculation example for a “Promo 12M” Partner Credit offered by UniCredit Consumer Financing IFN S.A. (as a result of meeting the eligibility criteria), in the amount of 83,840 Lei, for 12 months, equal installments, with life insurance with a single financed insurance premium** (added to the loan value, resulting in a borrowed value of 88,870.40 Lei)/ without life insurance: the fixed annual interest rate is 0% / 8%, file analysis fee 0 Lei (charged only in the case of granting the loan), monthly credit administration fee 10 Lei, monthly installment 7,415.87 Lei (equal installments, including the cost life insurance)/ 7,349.80 Lei, the total amount payable is 88,990.40 Lei/ 88,197.59 Lei, APR 0.25% (calculated on the total amount borrowed 88,870.40 Lei) / 9.88%.
**The single life insurance premium financed by the Lender is 5,030.40 lei, calculated as a percentage of 0.5% of the loan value of 83,840 lei and multiplied by the 12-month lending period, resulting in a borrowed value of 88,870 lei. The cost of financing by the Lender of the single life insurance premium is 0 Lei, calculated by applying the annual interest rate of 0% to the value of the loan representing the single insurance premium.
*In case you want to attach to the credit product a life insurance product, we kindly ask you to consult the details and related costs on www.ucfin.ro/asigurari. Life insurance is issued by Generali Romania Asigurare Reasigurare S.A. through UniCredit Consumer Financing IFN SA, as an auxiliary insurance agent registered with the Financial Supervisory Authority with the number RAJ-502078. The life insurance product is optional, the credit product being available for granting without a life insurance attached, in different cost conditions (8% fixed annual interest rate). The decision for crediting belongs solely to UniCredit Consumer Financing IFN SA, the Creditor reserving the right to request, when the case, any documents necessary in the crediting analysis, according to its internal regulations and the legal effective settlements. The present does not value, according to the law, the offer to contract financial products / services from UniCredit Consumer Financing IFN S.A., which can be modified or revoked at any time. According to the law, the product or financial service offer is the one valid at the time of registration of the product / service request and, regardless of the elements of the respective offer, the contract is considered concluded only on the date of its formal signature or, as the case may be, according to the legal provisions applicable to the remote contract conclusion.
**The loan is available only in lei. The exchange rate used to calculate the product information is estimated at 1 Euro = 5 lei.Please notice that any difference that may occur with regard to the exchange rate will be borne by you.
***For the avoidance of any doubt this document is not a binding offer and does not create any obligation or liability whatsoever for UniCredit Consumer Financing IFN S.A., does not represent an offer as defined by Romanian law and any understanding between the parties will be concluded only at the moment of signing of a credit contract.
****The above mentioned financial terms are subject to: (i) the applicable legal provisions and could suffer modification in case of any material changes in legal provisions related to the consumer protection and products pricing.