| Loan purpose |
pensioners who receive their pension through an account with the Bank |
| Loan amount |
Up to 350,000.00 denars |
| Loan term |
Up to 4 years |
| Nominal interest rate |
11.4% annual, variable with denar clause |
| Annual rate of total expenses (RTE) |
13.32% p.a. (RTE extent depends on the loan repayment period, loan amount, the amount of the loan costs that are included in the calculation of RTE and the extent of the nominal interest rate) |
| Early repayment |
Free of commission for early partial or full loan repayment |
| Criteria |
- Monthly instalment should be 1/3 of the applicant’s monthly net-income
- The age of the Borrower should not exceed 72 years with the last monthly instalment
- Guarantors should be employed in companies acceptiable for the Bank. The age of the guarantors should not exceed 64 years for men or 62 years for women with the last monthly installment. For loans up to 60,000 denars guarantor is not required.
|
| Disbursement |
- Maximum period for loan funds disbursement is 60 days from the date of loan approval
- Loan funds are transferred on the borrower’s transaction account
|
| Loan costs |
- 0.5% on the loan amount, minimum 500 denars
- 200 denars for loan application and processingv
- charges for the grace period interest (the grace period interest rate is calculated from the date of disbursement of funds till the date of commencement of repayment at interest rate equal to the interest rate of the loan)
- bill of exchange charges
|
| Security |
- standing order on the applicant’s account
- administrative ban on the guarantors salary for loan over 60,000 denars
- draft and draft statement signed by the applicant and the guarantor
|
| Repayment |
- monthly instalments
- maturity of annuity - on the 16th day of each month
|
| Documents required |
- Loan application
- Photocopy of a valid identification card
- Тhe latest pension cheque
|
Komercijalna Banka shall keep its discretion right to reject the loan application
|