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 10 years

NOMINAL INTEREST RATE A YEAR, VARIABLE

6M BELIBOR + 4.95%

Margin of 4.95% 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

1.50% of the loan amount

LOAN INSURANCE PREMIUM AT THE NMIC

1.35% to 5.75%

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

* -if the borrower does not have life insurance assigned in favour of the Bank, these premiums will increase by 0.25%   
-if “a housing unit under construction” is mortgaged, these premiums will increase by 0.5%   
-if a housing unit legalized in accordance with the Law on Planning and Construction is mortgaged, these premiums will increase by 0.15%   
-if the level of loan indebtedness of the borrower or co-debtor equals or exceeds 60%, these premiums will increase by 0.5%   
- if the level of loan indebtedness of the borrower or co-debtor equals or exceeds 70% these premiums will increase by 1% and    
- if the level of loan indebtedness of the borrower or co-debtor equals or exceeds 80%, and if 80% or more of debts is in dinars, these premiums will increase by 1.5%
In all cases where the security for the loan is a mortgaged property, costs arise when a loan is granted, such as valuation expenses, expenses for insurance, certificates, confirmations, licences, statements and decisions of competent bodies, cost of registering mortgage, etc. These expenses are included in the example.

EXAMPLE:

LOAN TYPE

DINAR HOUSING LOAN INSURED BY THE NMIC

PURCHASING PRICE OF PROPERTY

RSD 1,430,000.00

DOWNPAYMENT (MIN 20%)

RSD 430,000.00

LOAN AMOUNT

RSD 1,000,000.00

REPAYMENT PERIOD

120 months

LOAN CURRENCY

RSD

INDEXING CRITERIA

-

NOMINAL INTEREST RATE A YEAR, VARIABLE

6M BELIBOR + 4.95%

THE BANK’S FEE (1.50% OF THE LOAN AMOUNT)

RSD 15,000.00

MONTHLY INSTALLMENT

RSD 12,657.14

 

 

MORTGAGE REGISTRATION TAX

RSD 20,000.00

PREPARATION AND VERIFICATION OF LIEN STATEMENT AT THE NOTARY PUBLIC

RSD 10,080.00

ANNUAL PROPERTY INSURANCE

EUR 40.00 (RSD 4,936.26)

COST OF ISSUING PROPERTY FOLIO

EUR 10.00 (RSD 1,234.06)

COST OF PROPERTY VALUATION

EUR 100.00 (RSD 12,340.66)

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

Max EUR 80.00 (Max RSD 9,872.52)

INSURANCE PREMIUM AT NMIC (1.60% OF THE LOAN AMOUNT + EUR 30.00)

RSD 16,000.00

EUR 30.00 (RSD 3,702.19)

COST OF OBTAINING A REPORT FROM THE CREDIT BUREAU

RSD 246.00

TROŠKOVI IZDAVANJA MENICA

RSD 100.00

TOTAL LOAN AMOUNT INCL. INTEREST

RSD 1,518,856.80

EFFECTIVE INTEREST RATE

13.01%

Calculation made on 10.03.2016

6M BELIBOR as of 26.11.2015 was 4.09%.

 

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