AGRICULTURAL LOANS WITH A SUBSIDY OF THE MINISTRY OF AGRICULTURE, FORESTRY AND WATER MANAGEMENT

• Capital investments in new agricultural mechanization and equipment .
• Development of cattle breeding including the purchase of cattle and cattle insurance premium.
• Development of cattle breeding including the purchase of high-quality breeding heifers and cows not older than 5 years and insurance premium according to the Rule Book.
• Development of crop, fruit, wine, vegetable and flower growing including the purchase of seeds, seedlings and plant protection products.
• Purchase of fodder.
• Development of crop, fruit, wine, vegetable and flower growing including the purchase of fertilizers with special financing conditions, for all borrowers.

RSD, without value clause, depending on the creditworthiness and capacity of the customer and the offered collaterals according to the following:

• RSD 100,000.00 – RSD 6,000,000.00 (for an individual – holder of a commercial family agricultural holding and entrepreneurs)
• RSD 100,000.00 – RSD 18,000,000.00 (for legal entities)

From 1 (one) to 3 (three) years for the loans intended for:

• the development of cattle breeding except for the purchase of high-quality breeding heifers and cows not older than five years;
• the development of crop, fruit, wine, vegetable and flower growing;
• the capital investments in agricultural mechanization and equipment;
• the purchase of fodder.

From 3 (three) to 5 (five) years for the loаns intended for:

• the purchase of high-quality breeding heifers and cows not older than 5 years;
• capital investments in certain types of mechanization and equipment used in plant agricultural production.

Loans are repaid in equal monthly, quarterly, semi-annual or annual annuities (for loans whose term of repayment is up to three years), i.e. in six monthly annuities (for loans whose term of repayment is from three to five years) depending on the Client’s request.

*privileged categories: an individual – holder of a commercial family agricultural holding not older than 40 years in the current year, i.e. a female, i.e. whose residence is in the area with the aggravated working conditions in agriculture.

The Bank calculates a fee for processing applications in the amount of 1.5% of the amount of the loan and charges it one time in advance when the loan is disbursed.

The Bank does not calculate any fee for premature repayment of the loan or for monitoring the loan.

The customer can make a partial or premature repayment of the whole outstanding 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.

• Costs of issuing a report from the Credit Bureau – RSD 246.
• Cost of two promissory notes – RSD 100.
• Cost of obtaining a Certificate of Settled Tax Liabilities issued by the Ministry of Finance – Tax Administration – RSD 760

Other costs the amount of which is not determined by the Bank (notary public/court fees, Geodetic Authority fee, insurance premium of insurance companies).

Mandatory instruments:

• 2 (two) blank promissory notes of the borrower

Additional instruments (according to the assessment, depending on the specific feature of the loan application, creditworthiness of the borrower, purpose and maturity of the loan):

• Guarantee of connected persons or other retail and corporate clients
• Pledge
• First order mortgage on agricultural land
• First order mortgage on housing/business premises
• Insurance premium vinculated in favour of the Bank

• An Agricultural Loan Application (the Bank’s form)
• An Agricultural Loan Application (the Ministry’s form)
• A copy of ID card
• From the Agrarian Payments Administration (the documents must not be older than 30 days following the day of applying for the loan) the following:
  • A certificate of the status in the Agricultural Holdings Registry;
  • An excerpt from the Agricultural Holdings Registry – data on the registered agricultural holding;
  • An excerpt from the Agricultural Holdings Registry – structure of the plant production;
  • An excerpt from the Agricultural Holdings Registry - cattle.
• A certificate of settled/rescheduled tax liabilities issued by the Ministry of Finance – Tax Administration (not older than 30 days following the date when the loan application was submitted);
• A certificate (turnover card) of banks on the turnover realized through all special-purpose agricultural accounts in the previous 12 months;
• A Decision on Determination of Tax on Property of Individuals (last available) or other deed of title on movables and immovables;
• If the salaries or pensions of members of the agricultural holding are also to be taken for the evaluation of creditworthiness, the following documentation should be also obtained:
  • a) for pensioners (who do not hold a current account opened with the Bank): three last pension checks are to be submitted
  • b) for the employees (who do not hold a current account with the Bank): a turnover on the current account for the last 3 months from the bank in which they receive their salaries, a completed Certificate of Employment and Income are to be submitted
• A basic report of the Credit Bureau for a guarantor (if a guarantee is required)
• Depending on the assessment of the Bank and the amount of the loan: the documentation regarding the establishing of a lien on the movables/immovables (if necessary)
• PROFORMA INVOICE for purchasing goods or a preliminary sale contract