You can use the adaptation loan for complete adaptation of a flat or a house, painting, purchase of joinery or for construction of new residential premises, new floor or attic.
When the suppliers submit their invoices, we can transfer 30% of the funds to their accounts, as legal entities, and if you want we can disburse 70% in cash.
Target clients
The loan is intended for all clients who need to adapt (renew) their residential premises and who generate regular income from permanent employment or receive pension from the Montenegrin Pension Insurance Fund.
Advantages
- the loan is approved in the amounts from € 8.000 to € 50,000
- repayment period is from 6 to 180 months (15 years)
- The loan is approved at fixed and variable interest rates.
- During the promotional period, the approval is possible without administration fee
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Sample of loan |
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|
Loan amount |
8.000,00€ |
15.000,00€ |
25.000,00€ |
|
Repayment period |
96 months |
180 months |
180 months |
|
Nominal interest rate (annual) |
6,25% |
6,25%+3mEURIBOR |
6,25%+3mEURIBOR |
|
Monthly instalment |
105,41€ |
127,18€ |
211,97€ |
|
Administrative fee |
120,00€ |
225,00€ |
375,00€ |
|
Total interest |
2.119,36€ |
7.892,40€ |
13.154,60€ |
|
Effective interest rate |
6,72% |
6,51% |
6,51% |
|
Total costs* |
2.249,36€ |
8.127,40€ |
13.539,60€ |
|
Total debt |
10.249,36€ |
23.127,40€ |
38.539,60€ |
* Total costs represents the sum of interest for the entire period, administrative fees, fees for bill of exchange (€2), inquiry fee at the at the Credit Bureau of Central Bank of Montenegro (€3).
Within the EIR calculation, calculation of total costs and total debt of representative examples, are not included: compensation for the issuance of title deed and real estate appraisal, insurance premiums, which will be included in the final calculation, if the conditions for approval are provided.
Representative examples of loans for refinancing and renovation with a variable interest rate (v) were made for the 3-month EURIBOR on 19.01.2017 year.
General rules of approval
Loans are granted to creditworthy borrowers who have the ability to with half the salary / pension can return the total monthly obligations, including loan annuity for which they apply. Borrowers may have a co-borrower for whom the same conditions apply as for the borrower.
Loan collateral
- Bill of exchange signed by the client and bill authorization
- Administrative prohibition for loan beneficiary or loan co-debtor
- 1st class mortgage on the property at least in the ratio 1:1.5
- Insurance for the real estate which is under mortgage
- For the loans with repayment period over 8 years, life insurance of the loan beneficiary is required
The bank may require additional collateral.
Required documentation
- Loan application
- Statement of income
- Administrative prohibition
- Blank promissory note
- Copy of ID
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Real estates for saleCurrency exchange list
- val. unit. Srednji change
- CHF
1
1.0606
- GBP
1
0.8415
- USD
1
1.0875
- rate 6m. 3m.
- EURIBOR -0.36 -0.42