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Special purpose loans
- Loan for renovation and reconstruction / Refinance
Refinancing
Key feature
From EUR 1,000 to EUR 300,000
- Repayment period from 12 to 180 months
- Fixed nominal interest rate of 7.25% / Effective interest rate of 7.58%
- Variable nominal interest rate of 6.25%+6M Euribor / Effective interest rate of 6.52%
- Bank fee from 0.5% up to 2% of the loan amount
- Fast and simple way to get a loan
- Administrative ban on the salary / pension of the client / guarantor
- Bill of exchange and bill of exchange authorization signed by the client / guarantor
- Bill of exchange and bill of exchange authorization of a legal entity if it is a guarantor
- First-class mortgage in favor of the Bank (for amounts over € 15,000)
- Real estate insurance policy
The client is given the opportunity to use up to 60% of the loan amount in cash.
For clients from Group III, for amounts up to EUR 5,000, the loan can be approved without a guarantor, depending on its creditworthiness. The Bank reserves the right to require the client to provide one or more guarantors for this exposure.
* * The Bank reserves the right to accept an alternative security instrument if found acceptable and in line with the Bank's business policy.
Required documentation
Loan application
Employment certificate
Administrative withholding order on salary/pension
Consent for an enquiry in the Credit Bureau Registry (R.K.B.)
Representative example
Loan amount
Repayment term
Nominal interest rate
Monthly repayment
Administrative fee
Effective interest rate
Total debt
50.000 €
180 months
7,25%
456,46 €
250,00 €
7,58%
82.419,34 €
Representative example (Variable interest rate)
Loan amount
Repayment term
Nominal interest rate
Monthly repayment
Administrative fee
Effective interest rate
Total debt
20.000 €
180 months
6.25%+6M Euribor
428,74 €
250,00 €
6,52%
77.427,62 €
Fiksna kamatna stopa
Varijabilna kamatna stopa
Iznos kredita
20.000 €
20.000 €
Rok otplate
96 mjeseca
96 mjeseca
Nominalna kamatna stopa
6.95%+6M Euribor
6.95%
Anuitet
272.20 €
272.20 €
Administrativna naknada
100 €
100 €
Efektivna kamatna stopa
7,33%
7,33%
Ukupan dug
20.000 €
26.235,65 €
* The calculation of the 6-month EURIBOR is done twice a year (January 1st and July 1st).
** Total debt includes the loan amount, total interest, loan processing costs, bill of exchange costs € 2 and inquiry costs in the Credit Registry of Montenegro € 3.00. The above example did not include the cost of a real estate insurance policy, the cost of real estate appraisal.
*** The data on this loan may vary depending on the client's solvency. For more information, please visit a local branch of Lovćen banka AD or make an appointment by phone on 19 993 or send an e-mail to: kontakt@lovcenbanka.me