Center-invest Bank has introduced its new lending programme, "Educational Loan", which covers school, college, or university tuition fees.

Russian citizens aged 14 and over can receive a loan to cover the full cost of tuition for up to 5 years. The interest rate is 16.75% (Central Bank key rate + 2.5%), and the total cost of the loan ranges from 16.55% to 19.48%.

"We are convinced that financial support at the start of a professional career helps talented young people unlock their potential, gives them the freedom to choose an educational institution and speciality, and therefore strengthens the country’s workforce foundation," commented Nikolay Paramonov, the Head of the Retail Lending Department at Center-invest Bank.

The loan is available to both new and current students of any accredited Russian institution of general, secondary, and higher education. During the first two years of the loan, the borrower can take advantage of a grace period and pay only the interest.

Applications for the loan can be submitted at any Center-invest Bank office or via the Bank’s official website.