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Contact
contact@kb.com.mk

contact center:
(02) 3 296 800

Denar housing loan


 

The denar loan is intended for creditworthy individuals – full time employees in public administration or in companies acceptable for the Bank who receive salary on transaction account with the Bank or pensioners who receive they pension through transaction account with the Bank.

 

Loan purpose
  • Purchase, construction, additional construction or reconstruction of flat, house or business premises
  • Purchasing construction land
  • Purchasing real estate aboard
  • Refinancing another housing loan
Loan amount

Depends on the client’s creditworthiness and mortgage value

Down payment
  • minimum 26% of the purchase price of an apartment, if it is subject of mortgage
  • minimum 15% of the purchase price of an apartment if it is subject of mortgage and is purchased from construction companies the Bank has concluded Business Agreement with*
Loan term
  • up to 18 years for purchase, construction or reconstruction of business premises
  • up to 30 years for all other purposes
Grace period

Possibility of a grace period of 12 months. The Bank shall calculate and charge only grace period interest for the duration of the grace period.

Nominal interest rate 3,6% p.a., fixed for the first 3 years
3,9% p.a., fixed for the next 3 years
4,9% p.a., variable, for the rest of the loan period (reference interest rate of 3,17%, but not exceeding the legal default interest rate for denar claims) *

The reference interest rate shall be the rate announced and available on the web site of NBRM (www.nbrm.mk) each 25.06. and each 25.12. under the name „interest rate for denar deposits without currency clause“ and shall apply for the current six-months period (until the end of the respective six-months period). Currently the reference interest rate is 1,73%. The Bank shall regularly announce the applicable reference interest rate for interest calculation, at its website
Link
Annual rate of total expenses (RTE)) From 4,33% to 4,52% 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). Notary costs, the costs for registration of the lien in the appropriate public register and the costs of insurance of the pledged immovable property against fundamental risks are not included in the calculation of RTE and are on the account of the borrower.
Early repayment Early partial or full loan repayment shall be free of charge
Criteria
  • The monthly instalment should be covered by 1/2 of the applicant’s monthly net-income. Other annual or monthly incomes that are subject to taxation, in accordance with the Law on Personal Income Tax, and may be documented, shall also be considered as monthly incomes.
  • The age of the Borrower should not exceed 70 years with the last monthly instalment
  • Another 2 applicants may join the main loan applicant, who may not to be family related but have to be creditworthy.
Disbursement

The funds from the loan are disbursed to:

1. The seller:

  • when the seller is a legal entity
  • when the seller is an individual, if the immovable property, which is subject to purchase/sale is put under mortgage
2. The Applicant:
  • when the seller is an individual, if other immovable property is put under mortgage
  • for adaptation and renovation
Loan costs
  • MKD 4,000.00 fee for loan approval and administration (free of charge if refinancing housing loans in other banks and in the Bank)
  • MKD 400 for loan application and processing
  • 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)
  • Charges for evaluation of the property mortgaged (more on link)
  • Notary and lawyer’s compensation for pledge agreement in accordance with the respective tariffs
  • Charges for registration of the lien in favour of the Bank in the appropriate public book
  • Charges for insurance policy against fundamental risks for the pledged property
Collateral
  • Mortgage on real estate in value up to 135% of the loan amount (the mortgage may refer to the property that is subject of purchase or another property in possession of the loan applicant or of another party. For purchase of real estate abroad, the property under mortgage must be exclusively in the territory of RNM)
  • Insurance policy for the pledged immovable property assigned in favor of the Bank, being renewed through the overall loan validity period
Repayment
  • monthly instalments
  • instalment becoming due - on the 16th day of each month
Documents required
  • Loan application
  • Copies of valid ID cards for all participants in the loan
  • For employees in private companies acceptable for the Bank, Form PP53 (Declaration of receipt from PRO) for the last three months and solvency of the giro account from the bank they are clients of (for clients of the Bank solvency is not required and for applicants receiving their salary through the Bank Form PP53 are not required)
  • For pensioners – the last pension cheque
  • Notarized purchase/sale pre-agreement or complete technical documentation with approval for construction and amount of the funds needed
  • Birth/marriage certificate for the borrowers
  • Property specification sheet for the estate offered as collateral
*Construction companies the Bank has business cooperation with:
  • Adora Inzenering Skopje
  • Aktiva DOO Shtip
  • Ansteda Konstrakshn DOO Skopje
  • Apeks Investment DOOEL Skopje
  • 2B Invest Grup Shtip
  • Glic DOOEL Kicevo
  • Golden Art Skopje
  • Gradba Promet DOO Kavadarci
  • Dabar Skopje
  • Elita Invest Skopje
  • ZSF DOOEL Skopje
  • Impeksel 2 DOOEL
  • Impeksel Inzenering DOO Skopje
  • Kat Kostov DOO Skopje
  • Mega Kumanovo/Akustik Skopje
  • Multi Ofis DOOEL Skopje
  • Nastel Skopje
  • Pandev DOO Skopje
  • Pelagonija AD Gostivar
  • Pelagonija Inzenering Shtip
  • Pelagonija Strumica/Total Inzenering Strumica
  • Porta Inzenering Grup DOOEL Skopje
  • Rojal Vase Probishtip
  • Sara – 4 DOOEL Skopje
  • Saf Komerc DOO Skopje
  • Spektartermo DOO Skopje
  • Turmak AD Istanbul- Skopje Subsidiary (Cevahir Sky City) – More
  • UPM Grup/Hromak Kumanovo
  • Florastat DOOEL Skopje
  • Hrising FS DOOEL Skopje


Komercijalna Banka shall keep its discretion right to reject the loan application