Cash loans and refinancing loans secured by mortgage
Type of loan
CASH AND REFINANCING LOANS SECURED BY MORTGAGE
Loan amount
Up
to the borrower’s creditworthiness
Maturity
Up
to 10 years
Interest rate
12.50%
p.a. variable
Bank’s commission
2% of
the loan amount
Loan collateral
- Two blank promissory notes,
- First-class mortgage created on the immovable (residential
or business-office premise, located within the urban city area) in favour of
Komercijalna banka in the min. ratio of 1:2.5 or Second-class mortgage in
case the First-class mortgage is created as a collateral in favour of Komercijalna
banka in the min. ratio of 1:2.5
- Insurance of the immovable property with an insurance
company acceptable to the Bank, assigned to the Bank
Disbursement
Onto borrower’s credit account opened with the Bank or opened
with other banks up to the amount of the refinanced liability and by transfer
of the difference up to the amount of approved loan onto current account /
Dinar savings booklet of the borrower
Prepayment
2% of prepaid principle loan amount
Effective Interest Rate (EIR)
From
13.82%
EIR computed on 25.01.2010
In all cases where the mortgage is used as loan collateral, on occasion of loan approval, appraisal, insurance, certificates, permits, statements, decisions costs of the competent authorities as well as costs of creating of mortgage shall be incurred.
