An individual – a holder of a registered family agricultural holding who has opened a special-purpose Registered Agricultural Holding (RAH) account with the Bank and who meet the following conditions is entitled to the loan:
For the period of first 3 months, i.e. after the expiry of 3 months until the date of first adjustment of the interest rate, it is fixed and amounts to 6.5% annually.
After 3 months, i.e. after the date of the first adjustment of the interest rate, it is variable and set as a sum of the value of six-month BELIBOR applicable on 31 May and 30 November and the fixed margin that is 6.5% annually.
Interest rate shall be changed two times a year and the newly set interest rate shall be calculated on the balance of debt of immature principle as at 30 June and 31 December each year.
During the grace period the Bank shall calculate an intercalary interest on the granted loan at the interest rate that is equal to the agreed (regular) interest rate. The intercalary interest shall be applied to the principal debt on the day when the loan is transferred to repayment and the principal increased like that represents a basis for making up an annuity plan.
A default interest is at the level of legal default interest, i.e. agreed (regular) interest if it is higher.
The Bank shall not calculate or charge fee for processing, i.e. realization of the loan application.
The Borrower can make a partial or early repayment of the total unrepaid loan, free of charge, with a written request to the Bank.
The costs that are to be debited to the Borrower are known at the moment of advertising and they are included in the calculation of the effective interest rate.
Other costs on whose amount the Bank does not have any influence (fees of assessors, notaries/courts, the Land Register Service, the Business Registers Agency, insurance premiums of insurance companies).
Mandatory collateral:
According to the assessment, depending on the amount of the loan, financial statement and credit risk estimate, the Bank may ask for additional collateral:
*Representative example on 27 April 2023