Housing loans and loans for refinancing of housing loans insured with the National Corporation without currency clause

Housing loans from this program are approved for the following purposes:


- purchase, construction, renovation, reconstruction, refurbishment and upward extension on residential building

 

RSD Housing Loans Insured with NMIC, Terms and Example:

LOAN TYPE

DINAR HOUSING LOANS INSURED AT NMIC

LOAN AMOUNT

Up to the applicant’s creditworthiness

LOAN CURRENCY

Dinar loan

REPAYMENT PERIOD

Up to 15 years

NOMINAL INTEREST RATE A YEAR, VARIABLE

6M BELIBOR + 2,55%

Margin of 2,55% is fixed

6M BELIBOR applies, which is calculated two working days before 31.05. and 30.11.

INTEREST RATE ADJUSTMENT

Interest rate is adjusted twice a year, 31.05. and 30.11.

THE BANK’S FEE

0.50% of the loan amount

LOAN INSURANCE PREMIUM AT THE NMIC*

1.35% to 2.35%

ONE-OFF FEE IN FAVOUR OF NMIC

EUR 30.00

LOAN COLLATERAL

-  Two blank promissory notes from the borrower

- first ranking mortgage or second ranking mortgage, when the first ranking mortgage has been taken as a collateral in favour of Komercijalna banka on a property that is being financed or another property in favour of Komercijalna banka, on condition that the loan amount does not exceed 80% of the value of property reduced by the amount of other receivables secured by a higher ranking lien right on the same property

- property insurance assigned in favour of Komercijalna banka

- Insurance of the loan at the NMIC

LOAN REPAYMENT

Monthly in dinars

DOWNPAYMENT

Min 20% of the sales price of property or the bill of quantities if the same property is being financed or is pledged, or without downpayment if the collateral is another property whose value is at least 30% greater than the loan amount

EARLY REPAYMENT

Purchase of property

1% of the early repaid principal if the period between the early repayment of the loan and its final due date is longer than one year, or 0.5% if the this period is shorter, on condition that the early repaid amount in the period of 12 months is greater than RSD 1,000,000.00

*The cost of the loan insurance premium at NKOSK is increased in the following cases:

1. if loan beneficiary does not have life insurance vinkulated in favour of the Bank - by 0.25%

2. if the object of the mortgage is "facility under construction" - by 0.50%

3. if the object of the mortgage is "the facility legalized in according to the Law on Planning and Construction", based on the minimum technical documentation - by 0.15%

4. if the level of credit indebtedness of the loan user and co-debtor (the ratio of total monthly loan liabilities and monthly net income minus the value of the minimum consumer basket for the first adult household member according to the latest published data of the Republic Statistical Office): equal to or greater than 60% - by 0.50%, equal to or greater than 70% - by 1.00%, equal to or greater than 80% (only when 80% or more of the monthly loan liabilities are in dinars) - by 1.50%

In all cases where loan collateral is a mortgage, when approving a loan, there are some related expenses included, such as the costs of estimation of property value, insurance, obtaining certificates, permits, statements of authorities, the costs of the mortgage registration, etc. These costs are shown in a representative example.

 

EXAMPLE:

LOAN TYPE

DINAR HOUSING LOAN INSURED BY THE NMIC – WITHOUT LIFE INSURANCE

PURCHASING PRICE OF PROPERTY

RSD 1,250,000.00

DOWNPAYMENT (MIN 20%)

RSD 250,000.00

LOAN AMOUNT

RSD 1,000,000.00

REPAYMENT PERIOD

180 months

LOAN CURRENCY

RSD

INDEXING CRITERIA

-

NOMINAL INTEREST RATE A YEAR, VARIABLE

6M BELIBOR + 2,55%

THE BANK’S FEE (0.50% OF THE LOAN AMOUNT)

RSD 5,000.00

MONTHLY INSTALLMENT

RSD 8.229,13

TOTAL LOAN AMOUNT INCL. INTEREST

RSD 1.481.243,40

EFFECTIVE INTEREST RATE

8,41%

 

OTHER EXPENSES INCLUDED IN CALCULATION OF EFFECTIVE INTEREST RATE

MORTGAGE REGISTRATION TAX

RSD 21.540,00

PREPARATION AND VERIFICATION OF LIEN STATEMENT AT THE NOTARY PUBLIC

RSD 10,080.00

ANNUAL PROPERTY INSURANCE

EUR 40,00 (RSD 4.736,02)

COST OF ISSUING PROPERTY FOLIO

EUR 10,00 (RSD 1.184,01)

COST OF PROPERTY VALUATION

EUR 100,00 (RSD 11.840,06)

COST OF VALUING THE PROPERTY THAT IS MORTGAGED (EVERY 3 YEARS)

Max EUR 80,00 (Max RSD 9.472,05)

INSURANCE PREMIUM AT NMIC (2,60% OF THE LOAN AMOUNT + EUR 30.00)

RSD 26.000,00

EUR 30,00 (RSD 3.552,02))

COST OF OBTAINING A REPORT FROM THE CREDIT BUREAU

RSD 246.00

COSTS OF PROMISSORY NOTES ISSUANCE

RSD 100.00

 

Calculation made on 27.09.2018

6M BELIBOR as of 29.05.2018 was 3,06%

 

* The example shows a calculation for the Bank’s clients.