Loans for Purchase of New Agricultural Machinery with the 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 new agricultural machinery (harvesters, silos and alike).

 

Loans for Purchase of New Agricultural Machinery and Equipment with the Guarantee by the Guarantee Fund of the AP Vojvodina

LOANS FOR PURCHASE OF NEW AGRICULTURAL MACHINERY AND EQUIPMENT WITH THE GUARANTEE BY THE GUARANTEE FUND OF THE AP OF VOJVODINA

Purpose of the loan

Loans are approved for purchase of new agricultural machinery, as follows:

  • Harvesters
  • Tractors
  • Other self-propelled agricultural machinery
  • Connecting agricultural machinery and
  • Equipment

Preconditions for granting a loan

  • Registered into a Registry of Farms and in an active status,
  • Residence on the territory of the Autonomous Province of Vojvodina,
  • a special-purpose account opened with the Bank and registered with 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,
  • Classified into A or B category in accordance with the effective NBS Decision on Classification of BS Assets and Off-Balance Sheet Items of Banks.

Repayment period

Up to 7 years

Currency

RSD with currency clause

Method of repayment

In RSD equivalent at middle exchange rate of NBS on due date

Semi-annual annuities maturing on every 15.06 and 15.12 of current year

Loan amount

Depending on borrower’s creditworthiness total amount granted per loan application:

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

max: EUR 100.000.00 in RSD counter-value

Nominal interest rate

7,50% p.a. – fixed

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 of Vojvodina payable at first demand, for a total amount of the loan increased by the amount of agreed interest and potential default interest

Front-end fee

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

Prepayment fee

No fee

Loan disbursement

By payment of the approved loan amount to the supplier’s account

EIR

From 7,79% annually


Participants in the open competition express their interest to participate in the Open Competition by filing the Application (enclosed), which can be obtained at the office of the Guarantee Fund of AP Vojvodina in Novi Sad, 11, Hajduk Veljkova Street, sixth floor (Master Center of the Novi Sad Fair), every working day from 9 a.m. until 3 p.m., or the same can be downloaded from the Guarantee Fund APV website  www.garfondapv.оrg.rs.