Apartments Built for Members of Security Forces

• Certificate of employment and amount of income (only for employed persons);
• Decision on attachment on salary in two copies (for employed persons only);
• Decision on entitlement to a pension (only for pension beneficiaries - personal, family, disability, foreign pension);
• Decision of the competent institution confirming the entitlement to veterans and disability benefits and certificate of the average income for the last three months (only for beneficiaries of veterans and disability compensation);
• If the client does not have an account opened with the Bank, the following documentation must also be submitted:
  - Payroll slips for the last 3 (three) months / pensioners shall submit last 3 (three) pension checks.
  - Turnover on the account with another bank for the last 6 (six) months;
• Pre-contract approval for the purchase of an apartment;
• Valid identification document (identity card or passport);
• If necessary, the Bank may request additional documentation in accordance with internal acts.

Loans are approved for the purchase of apartments built within the state mass housing construction project for members of security forces of the Republic of Serbia.

Minimum loan amount

• For loans indexed to EUR: EUR 5,000 in RSD equivalent at the middle exchange rate of the National Bank of Serbia valid on the loan disbursement date.
• For RSD loans: RSD 500,000.

Maximum loan amount

• Up to 90% of the purchase price of the real estate to be purchased from the loan or its estimated market value (the lower value is taken), if mortgage is constituted on the real estate that is the subject of the loan.

Repayment period:

From 36 to 360 months with the option of a grace period of up to 12 months, which is included in the loan repayment period.
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 mortgage is constituted on the real estate that is the subject of the loan.
Down payment is not 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 loan amount by at least 30%.
Down payment is not required if the housing loan is refinanced with other banks.

Bank calculates and charges interest on the amount of the approved housing loan at the following rate:

For EUR-indexed loans:

• for the first 24 months, i.e. after the expiration of the 24-month period until the date of the first interest rate adjustment, the interest rate is fixed and amounts to 2% annually;
• after the 24th month, i.e. after the date of the first interest rate adjustment as defined in the previous item, the interest rate is variable and calculated as the sum of 6M EURIBOR valid on 31 May and 30 November and a fixed margin of 2%.

For RSD loans:

• for the first 24 months, i.e. after the expiration of the 24-month period until the date of the first interest rate adjustment, the interest rate is fixed and amounts to 5% annually;
• after the 24th month, i.e. after the date of the first interest rate adjustment as defined in the previous item, the interest rate is variable and calculated as the sum of 6M BELIBOR valid on 31 May and 30 November and a fixed margin of 2%.

Change in the interest rate described in the manner referred to in paragraph 1, item 2 of this Article is made twice a year, by calculating the newly determined interest rate on the balance of the outstanding principal as of 30 June and 31 December of each year. Interest is calculated using the proportional method.

The Bank calculates default interest on all due and outstanding loan obligations at the interest rate prescribed by the Law on Default Interest, or the contracted (regular) interest rate if it is higher. Default interest is calculated using the proportional method.

In the case of loans without a grace period, the Bank calculates intercalary interest rate equal to the contracted regular interest rate during the period from the loan disbursement date until the date on which the loan repayment starts (last day of the month). Intercalary interest is charged at the moment the loan repayment starts.

In the case of loans with a grace period, during the grace period, the intercalary interest is calculated using the contracted (regular) interest rate, without charging the it. The calculated intercalary interest is capitalized, that is, added to the principal balance of the loan at the time when the loan repayment starts. Principal increased in this manner is the basis for creating an annuity plan.

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

• One-off loan processing fee is 0.2% of the approved loan amount.
• Cost of NMIC insurance premium ranging from 1.05% to 3.675% of the loan amount. The premium depends on the amount of down payment, degree of building completion, creditworthiness of the client, whether the client holds a life insurance policy.
• Appraisal report in the amount of EUR 30 prepared by the authorized appraiser Adventis real estate management doo Belgrade.
• Certification of pledge statement RSD 10,800 (approximately, based on a representative example provided by the Association of Serbian Banks).
• Cost of real estate insurance after the completion of the building is approximately EUR 20 per year for a 65 m2 apartment.
• Cost of promissory notes is RSD 200.
• Credit Bureau report fee is RSD 246.

The bank cannot influence the amount of fees charged by other persons (NMIC, notary public, insurance company) related to the housing loan approval process.

• Second-rank mortgage on building under construction, which, at the moment of obtaining a use permit and registration of a separate part, becomes a first-rank mortgage on the residential unit that is the subject of the purchase and sale;
• 4 blank solo promissory notes;
• Real estate insurance policy against basic risks plus the risk of water spillage from installations (at the time of construction completion);
• NMIC insurance policy.

By cashless transfer of funds to the seller's account when the subject of the loan is the purchase of residential property.

• 0.5% of the amount of the early repaid loan, for an amount greater than RSD 1,000,000, 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, 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.