Housing loans and loans for refinancing of housing loans with currency clause not insured with the National Corporation

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


- purchase, construction, renovation, reconstruction, rehabilitation and upward extension of the residential building/unit

TYPE OF LOAN

HOUSING LOANS WITH A CURRENCY CLAUSE AND LIFE INSURANCE UNINSURED BY THE NMIC

LOAN AMOUNT

Up to the applicant’s creditworthiness

LOAN CURRENCY

Dinar loan indexed in EUR

INDEXING CRITERIA

EUR – NBS middle exchange rate

REPAYMENT PERIOD

Up to 30 years

GRACE PERIOD

Up to 12 months; interest is accrued to the main debt

NOMINAL INTEREST RATE, PER ANNUM, VARIABLE*

between 5.50% and 6.50% + 6M EURIBOR

Margin between 5.50% and 6.50% is fixed

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

INTEREST RATE ADJUSTMENT

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

THE BANK’S FEE

between 1% and 1.5% of the loan amount

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

LOAN REPAYMENT

Monthly in dinar equivalent of the EUR at a middle NBS exchange rate on the day monthly instalment is paid

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

 *INTEREST RATE IS INCREASED BY 0.50 P.P. UNLESS THE CLIENT HAS A LIFE INSURANCE

 

EXAMPLES:

 

LOAN TYPE

HOUSING LOANS WITH A CURRENCY CLAUSE AND LIFE INSURANCE UNINSURED AT THE NMIC

SALES VALUE OF PROPERTY

EUR 37,500.00

DOWNPAYMENT (MIN 20%)

EUR 7,500.00

LOAN AMOUNT

EUR 30,000.00

REPAYMENT PERIOD

360 months

LOAN CURRENCY

RSD indexed in EUR

INDEXING CRITERIA

EUR – loans indexed in EUR

NOMINAL INTEREST RATE PER ANNUM

6M EURIBOR + 6.50%

THE BANK’S FEE (1.5% OF THE LOAN AMOUNT)

 EUR 450.00

MONTHLY INSTALLMENT

EUR 186,69

MORTGAGE REGISTRATION TAX

RSD 20,000.00

PREPARATION AND VERIFICATION OF LIEN STATEMENT AT NOTARIES PUBLIC

RSD 10,080.00

ANNUAL PROPERTY INSURANCE

EUR 40,00 (RSD 4.918,42)

LIFE INSURANCE POLICY - ANNUALLY

EUR 100,00 (RSD 12.296,07)

COST OF ISSUING A PROPERTY FOLIO

EUR 10,00 (RSD 1.229,60)

COST OF VALUING THE PROPERTY

EUR 100,00 (RSD 12.296,07)

COST OF VALUING THE MORTGAGED PROPERTY (EVERY 3 YEARS)

Max EUR 80,00 (Max RSD 9.836,85)

COST OF OBTAINING A REPORT FROM THE CREDIT BUREAU

RSD 246.00

COST OF ISSUING PROMISSORY NOTES

RSD 100.00

TOTAL LOAN AMOUNT INCL. INTEREST

EUR 67.208,40

EFFECTIVE INTEREST RATE

7.11%

Calculation as of 01.06.2016.

6M EURIBOR on 29.03.2016 was -0.134%

 

 

example II:

 

type of loan

HOUSING LOANS WITH A CURRENCY CLAUSE UNINSURED AT THE NMIC WITHOUT LIFE INSURANCE

sales value of property

EUR 37,500.00

downpayment (MIN 20%)

EUR 7,500.00

loan amount

EUR 30,000.00

repayment period

360 months

loan currency

RSD indexed in EUR

indexing criteria

EUR – loans indexed in EUR

nominal interest rate per annum

6M EURIBOR + 7%

the bank’s fee (1.5% of the loan amount)

 EUR 450.00

monthly installment

EUR 196,60

mortgage registration tax

RSD 20,000.00

preparation and verification of lien statement at the notary bublic

RSD 10,080.00

annual property insurance

EUR 40,00 (RSD 4.918,42)

cost of issuing property folio

EUR 10,00 (RSD 1.229,60)

cost of valuing a property

EUR 100,00 (RSD 12.296,07)

cost of valuing a property that is mortgaged (every 3 years)

Max EUR 80,00 (Max RSD 9.836,85)

cost of obtaining a report from the credit bureau

RSD 246.00

cost of issuing promissory

RSD 100.00

total amount of loan incl. interest

EUR 70.776,00

effective interest rate

7.65%

Calculation as of 01.06.2016.

6M EURIBOR on 29.03.2016. was -0.134%.

 

*The example shows a calculation valid for persons who are already clients of the Bank.

**Actual lending conditions depend on internal client segmentation in the Bank. Please consult the Bank’s nearest branch for an actual loan offer.