Car loans with currency clause

During promotional period until 29 February 2024

No loan processing fee during promotional period.

Benefits

Without mandatory comprehensive insurance for loans up to EUR 15,000
No loan maintenance costs
No guarantor

Loan amount and repayment period

From EUR 500 to EUR 25,000
Loan is approved for a period of 24 to 84 months and is repaid in monthly installments.

Down payment

30% of car value

Interest rate

NIR for the first 12 months, i.e. after the end of the 12-month period, until the date of the first adjustment of the interest rate, is fixed and amounts to 7%. After the 12th month, i.e. after the date of the first adjustment, NIR is variable and is calculated as the sum of 6M BELIBOR valid on 30 May and 30 November and a fixed margin in the amount of 4%. The newly established interest rate is calculated on the balance of the unpaid principal on 30 June and 31 December of each year.

Fee

One-time fee in the amount of 1% of the loan amount

Main security instruments

Two blank solo promissory notes
Attachment on salary for employed persons

Additional security instruments

Manual pledge for amounts over EUR 16,000
Comprehensive insurance for amounts over EUR 21,000

Early repayment

Upon a written request to the Bank, the Borrower can make a partial or early repayment of the entire outstanding loan without a fee.

Required documentation

Invoice issued by the Seller/sales contract
Certificate of employment and amount of income (only for employed persons)
Decision on attachment on salary in two copies (only for employed persons)

REPRESENTATIVE EXAMPLE

Type of loan

Car loan with currency clause

Loan amount

EUR 11,200

Down payment amount

EUR 4,800

Repayment period

60 months

Contracted currency

EUR

Nominal annual interest rate

NIR for the first 12 months, i.e. after the end of the 12-month period, until the date of the first adjustment of the interest rate, is fixed and amounts to 7%. After the 12th month, i.e. after the date of the first adjustment, NIR is variable and is calculated as the sum of 6M BELIBOR valid on 30 May and 30 November and a fixed margin in the amount of 4.00%. The newly established interest rate is calculated on the balance of the unpaid principal on 30 June and 31 December of each year.

Indexing criteria

In RSD equivalent at the middle exchange rate of the NBS on the day the loan disbursement

Monthly annuity

EUR 221.77

Loan security

2 promissory notes

Promissory note cost

RSD 100

Credit bureau report

RSD 246

Fee

RSD 0

Total loan amount
(principal + interest + costs)

EUR 13,445.94

Effective interest rate

7.61%

*Representative example as of 22 May 2023

CAR LOANS WITH CURRENCY CLAUSE