Loans for Purchase of Agricultural Land with a Guarantee by the Guarantee Fund of the Autonomous Province (AP) of Vojvodina

In cooperation with the Guarantee Fund of the Autonomous Province of Vojvodina, Komercijalna Banka has prepared loans for purchase of agricultural land.

 

Loans for Purchase of Agricultural Land with a Guarantee by the Guarantee Fund of AP Vojvodina

LOANS FOR PURCHASE OF AGRICULTURAL LAND WITH A GUARANTEE BY THE GUARANTEE FUND OF AP OF VOJVODINA

Purpose of the loan

  Purchase of agricultural land

Preconditions for granting a loan

-farms need to be recorded in the Register of Farms and have an active status,

-   residence on the territory of the Autonomous Province of Vojvodina,

-   a special-purpose account opened with the Bank and registered at the Directorate for Agrarian Payments as a registered family farm’s special-purpose current account

-   less than 70 years of age on the day the final annuity is repaid
- private ownership of less than 50 hectares

Repayment period

Between 13 and 84 months from the disbursement date of the loan/disbursement of the first tranche of the loan

Grace period

Up to 24 months from the date the loan is disbursed/from the first tranche of the loan

Method of repayment

In monthly/three-month/six-month/annual installments after the grace period

Currency

RSD with currency clause

Nominal interest rate

From 7,45 pp to 7,95 pp fixed

or

From 6M Euribor + 5,95 pp to 6M Euribor + 6,45 pp

Loan amount

Depending on the creditworthiness of the applicant
total amount to be granted per loan application:

 

min: EUR 5.000,00 in RSD counter-value,

max: EUR 100.000.00 in RSD counter-value

Collateral for retail customers - farmers

- 3(three) blank promissory notes of the loan beneficiary and

-  irrevocable, unconditional guarantee of the Guarantee Fund of the AP Vojvodina payable at first demand for the total amount of the loan increased by the amount of the agreed interest and potential default interest

-  first-rank mortgage on agricultural land at the minimum ratio of 1:1,3 for the amount of the loan principal, assigned in favor of the Bank (main debt increased by regular interest and potential default interest) and in favor of the Fund (main debt increased by regular interest and potential default interest and guarantee issuance fee) at the ratio of the guarantee to the loan

Front-end fee

1,00% of the amount of approved loan, one-off payment up-front

Prepayment fee

No fee