Loans for Improvement of Energy Efficiency from GGF Credit Line

Loans are granted for:

  • Replacement of heating systems
  • Connection to gasoline or another heating system
  • Replacement of boilers
  • Insulation of heating systems
  • Insulation of external walls and roofs
  • Replacement of external doors and windows
  • Installation of thermostatic valves to radiators
  • Replacement of pumps for central heating
  • Replacement of ventilation systems and air conditioning
  • Replacement of lighting (neon lights, compact fluorescent light bulbs)
  • Installation of solar thermal systems for hot water
  • Replacement of conventional heating systems with heat pump

Loans are intended for projects that contribute to reducing the energy consumption and/or reducing CO2 emissions by at least 20%.

 

FX currency loans:


LOAN TYPE  

 

FX CURRENCY LOANS

CUSTOMERS OF THE BANK

LOAN AMOUONT

Up to the amount of pro-forma invoice and estimated bill of work budget and the amount of creditworthiness of the loan applicant

AGREED CURRENCY

Dinar loan indexed in EUR

INDEXING CRITERIA

EUR – NBS middle rate

REPAYMENT TERM

Up to 60 months

NOMINAL INTEREST  RATE
p.a. floating

6M EURIBOR + 6.45%

6M EURIBOR + 5.95%

COLLATERAL

 

-Two blank promissory notes of the borrower

-For the amounts that exceed EUR 8.001 – Two blank promissory notes of the borrower and of the solvent loan guarantor

 

- Two blank promissory notes of the borrower

-I or II class mortgage on the real-estate in favour of Komercijalna Banka of minimum 1:2 value ratio

-Insurance of the real estate in favour of the bank

BANKING FEE

2% of the loan amount

1% of the loan amount

ADJUSTMENT OF INTEREST RATE

Adjustment of the interest rate for 6M EURIBOR shall be on every 30.06 and 31.12 by applying value of 6M EURIBOR effective on 15.06 and 15.12

LOAN REPAYMENT

Monthly in Dinar equivalent of EUR by middle rate of the NBS effective on the annuity monthly due date

SHARE

30% of pro-forma invoice value or value of the estimated bill of work budget

LOAN DISBURSEMENT

By payment of the full amount to the account of the seller/contractor or by payment of minimum 75% to the account of the seller by invoice, and the rest to be paid at the current account of the borrower


EXAMPLE 1

LOAN TYPE

FX CURRENCY CLAUSE LOANS SECURED BY PROMISSORY NOTE OF THE BORROWER

VALUE OF PRO-FORMA

INVOICE

EUR 5.000

SHARE (min 30%)

EUR 1.500

LOAN AMOUNT

EUR 3.500

REPAYMENT TERMS

60 months

AGREED CURRENCY OF THE LOAN

Dinar loan indexed in EUR

INDEXING CRITERIA

EUR – NBS middle rate

NOMINAL INTEREST RATE p.a. floating

6M EURIBOR + 6.45%

MONTHLY ANNUITY

EUR 68,69

BANKING FEE               (2% of the loan amount)

EUR 70.00 (RSD 8.469,62)

LOAN COLLATERAL   

Two promissory notes of the borrower

COSTS OF OBTAINING CREDIT BUREAU REPORT

RSD 246.00

COSTS OF NOTES ISSUE

RSD 100.00

TOAL LOAN AMOUNT WITH INTEREST

EUR 4.121,40

EFFECTIVE INTEREST RATE

7,77%


Calculation made on 11.03.2015 
Value of 6M EURIBOR on 15.12.2014 amounted 0.178%
    
EXAMPLE 2
:

LOAN TYPE

LOANS WITH CURRENCY CLAUSE SECURED BY MORTGAGE     

VALUE OF PRO-FORMA

INVOICE

EUR 5.000

SHARE (min 30%)

EUR 1.500

LOAN AMOUNT

EUR 3.500

REPAYMENT TERM

60 months

AGREED CURRENCY OF THE LOAN    

Dinar loan indexed in EUR

INDEXING CRITERIA

EUR – NBS middle rate

NOMINAL INTEREST RATE p.a. floating

6M EURIBOR + 5.95%

MONTHLY ANNUITY

EUR 67,87

BANKING FEE                (1% of the loan amount)

EUR 35.00 (RSD 4.234,81)

LOAN COLLATERAL

- promissory notes of the borrower                               

    - I or II class mortgage                                      

     - real-estate insurance with the insurance companies

MORTGAGE REGISTRATION CHARGE

RSD 20.000

PREPARATION AND VERIFICATION OF LIEN LETTER BY NOTARIES PUBLIC

RSD 10.080,00

ANNUAL REAL PROPERTY INSURANCE

EUR 40 (RSD 4.839,78)

COST OF TITLE DEED ISSUE

EUR 10 (RSD 1.209,94)

COSTS OF VALUE ASSESSMENT OF THE REAL-ESTATE

EUR 100 (RSD 12.099,47)

COSTS OF ASSESSMENT OF THE VALUE OF REAL-ESTATE UPON WHICH THE MORTGAGE WAS ASSIGNED (to be done every 3 years)

Max EUR 80,00 (RSD 9.679,57)

COSTS OF OBTAINING THE CREDIT BUREAU REPORT

RSD 246

COSTS OF NOTE ISSUE

RSD 100

ENTIRE LOAN AMOUNT WITH INTEREST

EUR 4.072,20

EFFECTIVE INTEREST RATE

14,38%


Calculation made on 11.03.2015 
Value of 6M EURIBOR on 15.12.2014 amounted 0.178%