If you are a young executive with high vision on your career, choose the specially developed plan from Bank of Cyprus for financing MBA classes offered by The Open University Business School, which provides flexible, high quality management and professional development by distance learning across the globe.

With more than 25 year experience, The Open University Business School is the world's largest MBA provider with triple accreditation, (AACSB, AMBA and EQUIS), an elite business school that offers you the opportunity to better yourself by investing in your career.

The Open University Business School has been offering courses in Romania since 1993, in partnership with The Centre for Open Distance Education for the Civil Society (CODEDS), a major provider of management education in Romania. 

You may find here more info regarding the courses provided by The Open University Business School. 

Purpose

• Financing 100% the MBA program 

Beneficiaries

• Romanian citizens who have already started an MBA program

Currency

• Euro

Loan amount

•    Maximum 10.000 Euro but no more than the costs of the MBA program according to the justifying documents

Advantages

• Financing 100% the MBA program
• Loan tenor: minimum 2 years, maximum 8 years
• All types of incomes obtained in Romania which can be justified with legal documents are accepted
• Debt / income ratio up to 55%
• No monthly administration fee 
• No early repayment commission

Annual interest rate

• Variable interest rate based on  Euribor 3 months + bank's margin
• Euribor 3 months + 13.9%

DAE: 17,21% calculated for the first year for 10.000 Euro, 8 years tenor, with equal monthly installments (Euribor 3 months  = 1,469 din 06.12.2011)

Costs of the loan

• Analysis fee:  200 Euro (at the granting of the loan)
• Monthly administration fee: 0%
• Early repayment commission: 0%
• Current account administration fee: 2.5 Lei
• Unique fee: 40 Euro or equivalent in Lei (for services provided at clients's requests during loan period)
• Noting fee in AEGRM

Loan reimbursement

• Equal monthly installments or
• Decreasing monthly installments

Collaterals

• Movable mortgage on the monthly incomes for the loan participants
• Movable mortgage on the current accounts opened at Bank of Cyprus Romania Branch for the loan participants

Loan disbursement

• Gradually based on the schedule of the MBA, directly into university's account, based on issued invoices