Loan for the purchase of an apartment/house, adaptation and refinancing of housing loans

Take advantage of a special offer until the end of 2024 and solve the housing issue on favorable terms!

LOAN AMOUNT 75000

TERM (in months) 120

MONTHLY RATE:

277,78 €

TOTAL:

70.651,8 €

* The data from the calculator is of informative character

NOMINAL INTEREST RATE

from 4,99%

LOAN AMOUNT

up to 150.000,00€

TERM

up to 240 months

Effective interest rate: from 5,36% Arrangement fee: 93,51€
Fixed fee for maintaining the account of the credit party: €1,00 monthly Penalty interest rate: 2,00% monthly Participation: from 10% in relation to the purchase price of the property in question
Assessment of the subject of the mortgage: Free assessment Grace period: 6 months

Assessment of the subject of the mortgage: Free assessment 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 provided for 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 Catalog of Collateral;
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 should be 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 the loan amount of €70,000.00 with a repayment term of 240 months, the nominal interest rate is 4.99% on an annual basis, while the effective interest rate is 5.36%. The calculation of the effective interest rate includes the nominal interest rate, the fee for processing the loan application of €93.51, the fee for maintaining the account of the credit party of €240.00, the cost of the notary act of €186.76, the fee for obtaining proof of ownership over real estate of €5.00, real estate insurance policy costs of €129.24, life insurance policy costs of €823.68, mortgage registration fee of €25.00, promissory note fee in the amount of €2.00, fee for an inquiry to the CBCG Credit Register in the amount of €3.00. The costs of the real estate insurance policy are calculated on the concrete example of a residential building, which is pledged as security, with a size of 40m2. The cost of a life insurance policy may have deviations depending on the circumstances of the case, the access age taken in the example is 40 years, gender male. The total amount paid by the consumer is €112,277.79 and represents the sum of the loan principal, total interest and other fees and costs related to the loan approval, while the amount of the monthly annuity is €461.54. A representative example is shown on the calculation example from 09/03/2024

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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