Cash loan with mortgage - Prva Banka Crne Gore

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LOAN AMOUNT 75000

TERM (in months) 90

MONTHLY RATE:

277,78 €

TOTAL:

70.651,8 €

* The data from the calculator is of informative character

NOMINAL INTEREST RATE

from 5.99%

LOAN AMOUNT

up to 150.000,00€

TERM

up to 180 months

Effective interest rate: from 7.53% Arrangement fee: 93.51€
Fixed fee for maintaining the account: 1.00€ monthly Penalty interest rate: 2,00% monthly

Loan security instruments:

Decision on the administrative prohibition of the Client (co-debtor and/or guarantor);
Verification of data for the Client-debtor, Verification of data for the co-debtor and/or guarantor;
Guarantee contract, which is concluded between the Client and guarantors (if it is stipulated in the loan decision);
Minimum, one blank signed promissory note (for the Client, co-debtor and/or guarantor) with bill of exchange authorization;
First line mortgage. The relationship between the amount of the debt and the value of the mortgaged real estate is defined by the Collateral Catalog;
Life insurance policy for the Client, bonded in favor of the Bank. The duration of the policy should be 30 days longer than the loan repayment period, and the amount of the insurance sum equal to that which was initially contracted;
Pledged property insurance policy. The insurance amount should correspond to the construction value of the real estate that is the subject of the mortgage. Insurance should be carried out against basic and supplementary risks, and the policy must be bound in favor of the Bank.
The duration of the policy should be 30 days longer than the loan repayment period and it should be paid in full before the loan is realized;
Statement on the use of the Real Estate (bank form).

The previously defined security means-instruments do not limit the Bank that, in accordance with the risk assessment in the specific case, it may not approve the loan or ask the Client for additional security means-instruments.

A representative example

For a loan amount of €50,000.00 with a repayment term of 120 months, the nominal interest rate (NIR) is 5.99%, while the effective interest rate (EIR) is 7.53%. The calculation of the effective interest rate includes the nominal interest rate, a loan application fee of €93.51, a credit account maintenance fee of €120.00, notary deed costs of €350.90, property ownership verification fee of €5.00, property insurance policy costs of €203.67, life insurance policy costs of €1,850.00, mortgage registration fee of €60.00, property appraisal costs of €150.00, promissory note fee of €2.00, and a CBCG Credit Register inquiry fee of €3.00. The property insurance cost is calculated for a specific residential property used as collateral, sized 63m². The life insurance cost may vary depending on the circumstances of the case, with the assumed age in the example being 28 years and male gender. The total amount that the client pays is €69,405.68, representing the sum of the loan principal, total interest, and all other fees and costs related to the loan approval, while the monthly installment is €554.73. The representative example is based on the calculation as of February 4th, 2025.

REQUIRED DOCUMENTS

ID card,
Loan Application Form,
Statement on related parties,
The approval of access to data of the Credit Registry of the Central Bank of Montenegro,
The statement of the current account used for the payment of salaries or other income during the period of time which is (as a rule) 3 months prior to the month of submitting the Application,
Receipts certificate and administrative ban on earnings,
Other documents, if applicable.

Loan Conditions

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Current Accounts

Foreign currency accounts