EUR-indexed Housing Loan

Loans are approved for the following purposes:

• For purchase of residential property
• For adaptation of residential property
• Refinancing housing loans

Minimum loan amount:
1EUR 10,000.00 in RSD equivalent at the middle exchange rate of the National Bank of Serbia valid on the loan disbursement date.

Maximum loan amount:

• For purchase of residential property: up to 80% of the purchase price of the real estate to be purchased from the loan or its estimated market value (the lower value is taken), or estimated market value of the real estate that is the subject of the loan, if mortgage is constituted on real estate that is not purchased from the loan.
• For adaptation of residential property: up to the amount stated in the estimated bill of quantities, up to 80% of the estimated market value of the real estate if mortgage is constituted on the real estate that is the subject of adaptation, or up to the amount of the estimated market value of the real estate that is the subject of loan, if mortgage is constituted on another real estate.
• Refinancing housing loans: up to the amount of debt that the client has on the basis of a housing loan based on a certificate issued by the bank where the loan is refinanced, up to 80% of the estimated market value of the real estate if mortgage is constituted on the real estate that is the subject of the loan, or up to the estimated market value of the real estate that is the subject of the loan, if mortgage is constituted on another real estate.

Repayment period:
From 60 to 360 months

Loan is repaid in equal monthly annuities due on the last day of the month.

• A minimum of 10% of the purchase value of the real estate if the loan is granted to a natural person for the purchase of the first residential property, and mortgage is constituted on the real estate that is the subject of the loan. Residential property is considered to be a house, an apartment and parts of a residential building that are intended for housing purposes, a garage or a garage space together with an apartment, as well as a land plot with a building permit for the construction of a house, whereas holiday houses are not considered a residential property.
• A minimum of 20% of the purchase value of the real estate if mortgage is constituted on the real estate that is the subject of the loan.
• Down payment is not required required if mortgage is constituted on another real estate (which is not the subject of the loan) if the value of that real estate exceeds the amount of the loan by a minimum of 30%.
• Down payment is not required if the housing loan is refinanced with other banks.

The Bank shall calculate and charge interest for the amount of the housing loan granted at the interest rate which is:

• for the period of first 3 months, i.e. after the expiry of the period of 3 months until the date of the first adjustment of the interest rate, fixed and amounts to 4.40% annually for the loans insured with the NKOSK (National Housing Loans Insurance Corporation), i.e. 5.10% annually for the loans not insured with the NKOSK;
• after 3 months, i.e. after the date of the first adjustment of the interest rate in the manner defined in the indent above, variable and set as a sum of the 6M EURIBOR applicable on 31st May and 30th November and the fixed margin amounting to 2.90% annually for the loans insured with the NKOSK, i.e. 3.60% annually for the loans not insured with the NKOSK.

In accordance with the decision of the NBS, until 31st December 2024, the Bank will grant housing loans in the period of implementation of the measures at the interest rate which is:

• for the period until 31 December 2024, fixed and amounts to 4.40% annually for the loans insured with the NKOSK, i.e. 5% annually for the loans not insured with the NKOSK;
• after 31 December 2024, variable and set as a sum of the 6M EURIBOR applicable on 31st May and 30th November and the fixed margin in the amount of 2.90% annually for the loans insured with the NKOSK, i.e. 3.60% annually for the loans not insured with the NKOSK.

The change in interest rate as described in paragraph 1, indent 2 of this item shall be carried out two times a year by calculating newly set interest rate on the debt balance of the unmatured principal as at 30th June and 31st December each year. The interest shall be calculated by applying the pro-rata method.

On all matured but not duly settled liabilities on the loan the Bank shall calculate default interest in the amount of the interest rate set by the Law on Default Interest, i.e. agreed (regular) interest rate if it is higher. The default interest shall be calculated by applying the pro-rata method.

For the period starting from the day when the loan was disbursed until the date it was transferred for repayment (last day of calendar month) the Bank shall calculate an intercalary interest at the interest rate that is equal to the agreed regular interest rate. The intercalary interest shall be charged at the moment when the loan was transferred for repayment.

Costs borne by the client are known at the time of publishing and are included in the calculation of the effective interest rate.

• Promissory notes (four) RSD 200
• Credit Bureau basic report RSD 246**
• NMIC fee EUR 30**
• NMIC insurance premium (can be increased in accordance with the calculation method of the NMIC insurance premium)
  - from 0.00% of the amount of the Bank loan for refinancing, and
  - from 1.5% of the amount of the Bank loan for purchase or adaptation
• Certification of pledge statement RSD 10,080*
• Real estate insurance - EUR 40 annually**
• Certificate of title issuance fee EUR 10**
• Real estate appraisal EUR 100**
• Mortgage registration fee RSD 20,000**
• Life insurance - EUR 100 annually**
• Cost of obtaining the Credit Bureau basic report for the guarantor RSD 102**
• The Bank's annual loan administration fee in the amount of EUR 50 one-off, at the middle exchange rate of the NBS no later than 31 December of each year until the final repayment of the loan.
• Other costs arising from other fees related to the housing loan.

**Costs borne by the client, which are included in the calculation of the effective interest rate, and over which the Bank has no influence. Please note that these are approximate (average) amounts over which the Bank has no influence, and which depend on the fees and charges of notaries/courts, the Geodetic Authority, insurance premiums issued by insurance companies, etc.

• 4 (four) blank solo promissory notes signed by the loan beneficiary (joint debtor, guarantor);
• Certified attachment on salary, except for pensioners;
• Real estate insurance policy assigned to the Bank issued by insurance companies acceptable to the Bank. Insurance is mandatory for the entire duration of the loan, the premium is paid annually and the policy is assigned to the Bank;
• Loan beneficiary's life insurance policy assigned to the Bank issued by with insurance companies acceptable to the Bank for loans not insured by NMIC;
• First-rank mortgage in favour of the Bank on the basis of a legally binding Decision on registration of a mortgage;
• Second-rank mortgage is allowed in cases where the first-rank mortgage is registered in favour of the bank that approved the loan to be refinanced;
• The Bank may, at its own discretion, request the guarantee of a third party - a creditworthy guarantor.

The obtained loan security instruments can, at the Bank's discretion, be replaced with other security instruments acceptable to the Bank.

By cashless transfer of funds to the account of:

• the seller - when the subject of the loan is the purchase of residential property,
• the contractor - when the subject of the loan is adaptation of residential property, and
• the bank with which client's existing obligations for the housing loan are settled.

• 0.5% of the amount of the early repaid loan, for an amount greater than RSD 1,000,000.00, in a period of 12 months, if the period between the early repayment and the deadline for fulfilling the contractual obligations is shorter than one year, or
• 1% of the amount of the early repaid loan, for an amount greater than RSD 1,000,000.00, in a period of 12 months, if the period between the early repayment and the deadline for fulfilling the contractual obligations is longer than one year.

• Certificate of employment and amount of income (only for employed persons).
• Decision on attachment on salary in two copies (only for employed persons).
• Other documentation in accordance with the purpose of the loan.