Bank Republic offers new student loan to Caucasus University

As part of its support for the development of education in Georgia Bank Republic is offering students of Caucasus University a loan on preferential terms to finance their Bachelors and Masters studies, Bank officials announced on Monday. The management of Bank Republic described the offer as “innovative, comfortable credit, tailor-made by BR for CU.”

The annual interest rate on the loan is 19%. It is issued without collateral, thus simplifying the disbursement procedure and shortening the time it takes to approve it, according to Bank Republic representatives. A family member of the student or another nomination person will receive the loan to finance the Bachelor's programme and a 4th year student will receive it if employed and salaried. A parent, nominated person, or the student themselves can take the loan financing Masters studies. It is issued on the basis of salary, dividend, lease income and business profit.

The head of the Retail Service at Bank Republic, Giorgi Suladze, said that the bank has already employed several students from Caucasus University. During their studies the bank will cover the loan. “These students will continue working at Bank Republic after they graduate,” Suladze noted. Kakha Shengelia, Rector of Caucasus University, highlighted the advantages of its cooperation with Bank Republic which has continued for some years already.