Loan for Home Improvement, Adaptation and Reconstruction of Residential Building/Unit

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

- renovation, reconstruction, rehabilitation and upward extension of residential building

Komercijalna banka AD Beograd has three models for extending this type of loan:

1. Loan with currency clause secured by bills of exchange signed by one creditworthy guarantor

2. Loan with currency clause secured by I rank or II rank mortgage in favour of the Bank for registered and unregistered housing facilities

3. RSD loan secured by I rank or II rank mortgage in favour of the Bank for registered and unregistered housing facilities

 

HOME IMPROVEMENT LOAN WITH CURRENCY CLAUSE SECURED BY COLLATERAL– TERMS AND EXAMPLE

TYPE OF LOAN

HOME IMPROVEMENT LOAN WITH CURRENCY CLAUSE SECURED BY GUARANTEE PLEDGE

BANK’S CLIENTS

LOAN AMOUNT

Up to creditworthiness of the loan applicant and maximum up to EUR 15.000,00

currency of the loan agreement

Dinar loan indexed in EUR

CRITERIA FOR INDEXATION

EUR – middle exchange rate of NBS

REPAYMENT PERIOD

Up to 123 months

NOMINAL INTEREST RATE PER ANNUM

from 5,5% to 6,10% fixed, the first 36 months

from 5,5% to 6,10% + 6M EURIBOR, variable – after 36 months

Margin level from 5,5% to 6,10% is fixed

After expiry of the fixed period the value of 6M EURIBOR is applied, which is defined in the market two working days prior to 31.05. and 30.11.

ADJUSTMENT OF INTEREST RATE

Adjustment of interest rate is performed twice a year, on 31.05. and on 30.11.

BANK’S FEE

from 1% to 1,75% of the loan amount

COLLATERAL

Two blank promissory notes of the loan beneficiary and two blank promissory notes signed by one creditworthy guarantor

LOAN REPAYMENT

On monthly basis in dinar equivalent of EUR at middle exchange rate of NBS applicable as of the date of payment of monthly annuity

DOWN PAYMENT

Min 30% of the bill of quantities and cost estimates

 

 

EXAMPLE:

 

 TYPE OF LOAN

HOME IMPROVEMENT LOAN WITH CURRENCY CLAUSE SECURED BY GUARANTEE PLEDGE

VALUE OF BILL OF QUANTITIES AND COST ESTIMATES

EUR 15.000,00

down payment (MIN 30%)

EUR 4.500,00

loan amount

EUR 10.500,00

repayment period

123 months

currency of the loan agreement

Dinar loan indexed in EUR

CRITERIA FOR INDEXATION

EUR – middle exchange rate of NBS

NOMINAL INTEREST RATE PER ANNUM

6,10%, fixed, the first 36 months

6,10% + 6M EURIBOR, variable – after 36 months

Margin level of 6,10% is fixed

BANK’S FEE (1,75% OF THE LOAN AMOUNT)

EUR 183,75

MONTHLY ANNUITY

EUR 115,06 – the first 36 months

EUR 114,45 – after 36 months

COLLATERAL

Two blank promissory notes of the loan user. Two blank promissory notes of creditworthy guarantor

COSTS OF OBTAINING THE REPORT FROM CREDIT BUREAU – LOAN BENEFICIARY

RSD 246,00

COSTS OF OBTAINING THE REPORT FROM CREDIT BUREAU – GUARANTOR

RSD 102,00

COSTS OF PROMISSORY NOTES ISSUANCE FOR THE LOAN BENEFICIARY

RSD 100,00

COSTS OF PROMISSORY NOTES ISSUANCE FOR THE GUARANTOR

RSD 100,00

TOTAL LOAN AMOUNT WITH INTEREST

EUR 14.099,31

EFFECTIVE INTEREST RATE

6,62%

 

CALCULATION PERFORMED ON 01.06.2016

VALUE OF 6M EURIBOR AS OF 29.03.2016 IS -0,134%.

HOME IMPROVEMENT LOAN WITH CURRENCY CLAUSE SECURED BY MORTGAGE, TERMS AND EXAMPLE:

 

  TYPE OF LOAN

HOME IMPROVEMENT LOAN WITH CURRENCY CLAUSE SECURED BY MORTGAGE

BANK’S CLIENTS

LOAN AMOUNT

Up to creditworthiness of the loan applicant

CURRENCY OF THE LOAN AGREEMENT

Dinar loan indexed in EUR

CRITERIA FOR INDEXATION

EUR – middle exchange rate of NBS

repayment period

Up to 123 months

NOMINAL INTEREST RATE PER ANNUM, VARIABLE

From 4,95% to 5,45%, fixed, the first 36 months

from 4,95% to 5,45% + 6M EURIBOR, variable, after 36 months

Margin level from 4,95% to 5,45% is fixed

After expiry of the fixed period the value of 6M EURIBOR is applied, which is defined in the market two working days prior to 31.05. and 30.11

ADJUSTMENT OF INTEREST RATE

Adjustment of interest rate is performed twice a year, on 31.05. and on 30.11.

BANK’S FEE

from 0,5% to 1,25% of the loan amount

COLLATERAL

-       Two blank promissory notes of the loan user

- I or II rank mortgage when the I rank mortgage is established as a collateral in favour of  Komercijalna banka on real estate that is financed or on another real estate in favour of Komercijalna banka provided that the loan amount does not exceed 80% of real estate value reduced for the amount of other claims secured by higher-ranking lien on the same real estate

- Insurance of real estate assigned in favour of Komercijalna banka with the insurance companies

 

LOAN REPAYMENT

On monthly basis in dinar equivalent of EUR at middle exchange rate of NBS applicable as of date of payment of monthly annuity

DOWN PAYMENT

Min 20% of the bill of quantities and cost estimates if the same real estate is financed and pledged or without down payment if the collateral is another real estate whose value exceeds the loan amount by minimum 30%

 

 

EXAMPLE:

 

 TYPE OF LOAN

HOME IMPROVEMENT LOAN WITH CURRENCY CLAUSE SECURED BY MORTGAGE

VALUE OF BILL OF QUANTITES AND COST ESTIMATES

EUR 12.500,00

DOWN PAYMENT (MIN 20%)

EUR 2.500,00

LOAN AMOUNT

EUR 10.000,00

REPAYMENT PERIOD

123 months

CURRENCY OF THE LOAN AGREEMENT

Dinar loan indexed in EUR

CRITERIA FOR INDEXATION

EUR – middle exchange rate of NBS

NOMINAL INTEREST RATE PER ANNUM, VARIABLE

5,45% , fixed, the first 36 months

5,45% + 6M EURIBOR, variable, after 36 months

Margin level of 5,45% is fixed

BANK’S FEE (1,25% OF THE LOAN AMOUNT)

EUR 125,00

MONTHLY ANNUITY

EUR 106,29 – the first 36 months

EUR 105,75 – after 36 months

MORTGAGE REGISTRATION FEE

RSD 20.000,00

DRAFTING AND CERTIFYING THE LIEN STATEMENT BY THE PUBLIC NOTARY

RSD 10.080,00

ANNUAL REAL ESTATE INSURANCE

EUR 40,00 (RSD 4.918,42)

COSTS OF ISSUANCE OF PROPERTY LIST

EUR 10,00 (RSD 1.229,60)

COSTS OF REAL ESTATE VALUATION

EUR 100,00 (RSD 12.296,07)

COSTS OF VALUATION OF REAL ESTATE WHICH IS MORTGAGED (EVERY 3 YEARS)

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

COSTS OF OBTAINING THE REPORT FROM CREDIT BUREAU

RSD 246,00

COSTS OF PROMISSORY NOTES ISSUANCE

RSD 100,00

TOTAL LOAN AMOUNT WITH INTEREST

EUR 13.026,69

EFFECTIVE INTEREST RATE

7,83%

Calculation performed on 01.06.2016

Value of 6M EURIBOR as of 29.03.2016 is -0,134%.



DINAR LOAN FOR HOME IMPROVEMENT SECURED BY MORTGAGE, TERMS AND EXAMPLE

 TYPE OF LOAN

DINAR LOAN FOR HOME IMPROVEMENT SECURED BY MORTGAGE

BANK’S CLIENTS

LOAN AMOUNT

Up to creditworthiness of the loan applicant, and maximum up to RSD 1.200.000,00

CURRENCY OF THE LOAN AGREEMENT

Dinar loan

REPAYMENT PERIOD

Up to 84 months

NOMINAL INTEREST RATE PER ANNUM, VARIABLE

6M BELIBOR + 5%, variable

Margin level of 5% is fixed

Value of 6M BELIBOR is applied, which is defined in the market two working days prior to 31.05. and 30.11

ADJUSTMENT OF INTEREST RATE

Adjustment of interest rate is performed twice a year, on 31.05. and on 30.11.

bank’s fee

1,5% of the loan amount

COLLATERAL

-       Two blank promissory notes of the loan beneficiary

- I or II rank mortgage when the I rank mortgage is established as a collateral in favour of  Komercijalna banka on real estate that is financed or on another real estate in favour of Komercijalna banka provided that the loan amount does not exceed 80% of the real estate value, reduced for the amount of other claims secured by higher-ranking lien on the same real estate

- Insurance of real estate assigned in favour of Komercijalna banka with the insurance companies

 

LOAN REPAYMENT

On monthly basis in dinars

DOWN PAYMENT

Without down payment

 

 

EXAMPLE:

 

 TYPE OF LOAN

DINAR LOAN FOR HOME IMPROVEMENT SECURED BY MORTGAGE

VALUE OF BILL OF QUANTITES AND COST ESTIMATES

RSD 800.000,00

LOAN AMOUNT

RSD 800.000,00

REPAYMENT PERIOD

84 months

CURRENCY OF THE LOAN AGREEMENT

Dinar loan

NOMINAL INTEREST RATE PER ANNUM, VARIABLE

6M BELIBOR + 5%

BANK’S FEE (1,5% OF THE LOAN AMOUNT)

RSD 12.000,00

MONTHLY ANNUITY

RSD 12.693,34

MORTGAGE REGISTRATION FEE

RSD 20.000,00

DRAFTING AND CERTIFYING THE LIEN STATEMENT BY THE PUBLIC NOTARY

RSD 10.080,00

ANNUAL REAL ESTATE INSURANCE

EUR 40,00 (RSD 4.918,42)

COSTS OF ISSUANCE OF PROPERTY LIST

EUR 10,00 (RSD 1.229,60)

COSTS OF REAL ESTATE VALUATION

EUR 100,00 (RSD 12.296,07)

COSTS OF VALUATION OF REAL ESTATE WHICH IS MORTGAGED (EVERY 3 YEARS)

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

COSTS OF OBTAINING THE REPORT FROM CREDIT BUREAU

RSD 246,00

COSTS OF PROMISSORY NOTES ISSUANCE

RSD 100,00

TOTAL LOAN AMOUNT WITH INTEREST

RSD 1.066.240,56

effective interest rate

13,25%

Calculation performed on 01.06.2016

Value of 6M BELIBOR as of 27.05.2016 is 3,56%.