Cash loans against deposit

Cash loan without fx clause granted against dinar deposit:

TYPE OF LOAN

CASH LOAN WITHOUT FX CLAUSE GRANTED AGAINST DINAR DEPOSIT

NOMINAL INTEREST RATE

per year, fixed

4.2 p.p. higher than the interest received on dinar deposit. Interest rate on deposit may not exceed the highest currently applicable interest rate on fixed-term retail dinar savings.

LOAN CURRENCY

Dinar loan

BANK’S FEE

0.5% (min. amount RSD 3,000 RSD, max. amount up to RSD 50,000)

SECURITY INSTRUMENTS

-Two blank promissory notes by the borrower

-Special-purpose dinar deposit in the amount of 101% of the loan.  The deposit has to be fixed to a term that is 15 days longer than the loan repayment period. 

REPAYMENT

Monthly, in dinars


EXAMPLE:

TYPE OF LOAN

CASH LOAN WITHOUT FX CLAUSE GRANTED AGAINST DINAR DEPOSIT

AMOUNT OF LOAN

RSD 200,000

REPAYMENT PERIOD

36 months

LOAN CURRENCY

Dinar loan

NOMINAL INTEREST RATE

per year, fixed

4.20%

DEPOSIT (101%)

RSD 202,000

BANK’S FEE

RSD 3,000

MONTHLY INSTALLMENT

RSD 5,922.61

SECURITY INSTRUMENTS

Two promissory notes from the borrower

Dinar deposit

COST OF OBTAINING REPORT FROM THE CREDIT BUREAU

RSD 246

COST OF ISSUING PROMISSORY NOTES

RSD 100

TOTAL AMOUNT OF LOAN INCLUDING INTEREST

RSD 213,213.96

EFFECTIVE INTEREST RATE

 - 5.21%


Calculation made as at 21/05/2014


Fx indexed cash loan against fx deposit:

TYPE OF LOAN

FX INDEXED CASH LOAN AGAINST FX DEPOSIT

NOMINAL INTEREST RATE

per year, fixed

3.6 p.p. higher than the interest received on FX deposit Interest rate on deposit may not exceed the highest currently applicable interest rate on fixed-term retail FX savings.

LOAN CURRENCY

Dinar loan indexed in EUR

INDEXING CRITERIA

NBS middle exchange rate for EUR

BANK’S FEE

0.5% (min. amount RSD 3,000 RSD, max. amount up to RSD 50,000)

SECURITY INSTRUMENTS

-Two blank promissory notes from the borrower

-Special-purpose FX deposit in EUR, in the amount of 101% of the loan or 120% of the loan if the deposit is in a currency other than EUR. The deposit has to be fixed to a term 15 days longer than the loan repayment period. 

REPAYMENT

Monthly, in dinar countervalue of EUR according to NBS middle rate on the day the monthly installment is due.


EXAMPLE:

TYPE OF LOAN

FX INDEXED CASH LOAN AGAINST FX DEPOSIT

AMOUNT OF LOAN

EUR 2,000

REPAYMENT PERIOD

36 months

LOAN CURRENCY

Dinar loan indexed in EUR

INDEXING CRITERIA

NBS middle exchange rate for EUR

NOMINAL INTEREST RATE

per year, fixed

3.60%

DEPOSIT (101%)

EUR 2,020

BANK’S FEE

RSD 3,000

MONTHLY INSTALLMENT

EUR 58.69

SECURITY INSTRUMENT

Two promissory notes from the borrower

FX deposit

COST OF OBTAINING REPORT FROM THE CREDIT BUREAU

RSD 246

COST OF ISSUING PROMISSORY NOTES

RSD 100

TOTAL AMOUNT OF LOAN INCLUDING INTEREST

EUR 2,112.84

EFFECTIVE INTEREST RATE

- 4.50%


Calculation made as at 21/05/2014