RSD Housing Loans

Loans are approved for the following purposes:

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

Minimum loan amount:
RSD 1,000,000.00

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 36 to 180 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 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 the first 3 months, i.e. until the date of the first adjustment of the interest rate (30 June or 31 December), the interest rate is fixed and amounts to 5.80% annually for loans insured by NCIM, and 6% annually for loans not insured by NMIC;
• After that, the interest rate is variable and is calculated as the sum of 6M BELIBOR valid on 31 May and 30 November and the fixed margin.

The interest rate is changed twice a year, on 30 June and 31 December every year, and is calculated as the sum of 6M BELIBOR valid on 31 May and 30 November and a fixed margin of 2.60% for loans insured by NMIC, and 3.80 % for loans not insured by NMIC annually. Interest is calculated using the proportional method.

For the period from the loan disbursement date until the date on which the loan repayment starts (last day of the month), the Bank calculates intercalary interest rate equal to the contracted regular interest rate. Intercalary interest is charged at the moment the loan repayment starts. 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.

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

• Bank's one-off fixed fee for loan application processing in the amount of RSD 25,000
• Promissory notes (four) RSD 200
• NMIC fee EUR 30**
• NMIC insurance premium (can be increased in accordance with the calculation method of the NMIC insurance premium)
  - from 0.00% on the amount of the Bank loan for refinancing, and
  - from 1.5% on the amount of the Bank loan for purchase or adaptation
• Credit Bureau basic report RSD 246**
• 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**

** 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/guarantor/joint debtor (depending on the particular loan);
• 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.