1. Commercial Loans
а) Borrower/co-borrower:
- Serbian citizenship of a person residing the territory of the Republic of Serbia, or foreign citizenship of a person who lives/works in Serbia and has a residence/work permit, or Serbian citizenship of a person who has resided a foreign country for more than a year;
- minimum age of 20 when applying for the loan and maximum age of 70 when fully repaying the loan;
- positive report from the Credit Bureau (the report must be positive and possible arrears/default must be settled; if there have been any delinquencies in the course of the last 12 months, they must not have exceeded 25% of a monthly instalment of the related loan;
- a Serbian citizen – resident has a full-time employment and at least three months with the last employer;
- a Serbian citizen – non-resident or a foreign citizen-resident has a full-time employment or work agreement and at least six months with the last employer;
- the debt to income ratio must be either less than or equal 80% in cases when 20% or more obligations are in foreign currency or RSD with a currency clause included, or, the debt to income ratio must be less than or equal 100% if 80% or more obligations are in RSD.
b) Home Loan:
- term: up to 30 years;
- guarantors: not required;
c) Mortgage:
- the mortgaged property may be either registered or unregistered real estate which has to be approved by both the bank and the NMIC.
2. RS Government subsidy in accordance with the Regulation on Construction Industry Support in 2012
а) Borrower/co-borrower:
- Serbian citizenship of a person residing the territory of the Republic of Serbia;
- maximum age of 70 on the repayment date;
- the borrower and his/her spouse do not fully own one or more dwellings (if they do, the home loan to purchase new real estate shall make the value difference between the owned real estate and the new one), which is proved by borrower’s statement under penalty of perjury and a certificate issued by the competent Internal Revenue Authority for revenue/property assessment and control;
- an active home loan does not exist (except for an adaptation loan);
- borrower’s/spouse’s monthly earnings/salary do not exceed RSD 150,000.
b) Home Loan:
- to purchase of a newly built dwelling or to have a dwelling built requires the following documentation:
- a valid building permit and the acknowledgement of receipt, or building and site permits in accordance with the Building and Planning Law;
- a building permit for the development of the related building, but which differ from the original building permit and the approved project design in accordance with the Building and Planning Law,
- 3. a building permit and license to use the property issued within the legalization process (of the building or dwellings within it) if the construction commenced without necessary permits, and they are registered in cadastre, land registry, with or without remarks saying that the Republic of Serbia will not guarantee stability and safety of real estate that is subject to the related purchase agreement with the investor who holds the building permit;
- a valid building permit by which the borrower is at the same time the investor;
- the borrower provides minimum 5% for the down-payment, while 20% for the down-payment are received from RS budget as a long-term subsidy. The remaining 75% of the real estate value, that is, of the loan amount is provided by the bank, and insured by the National Corporation;
- the fee to process the bank’s application makes up to 0.5% of the loan;
- term of the bank loan is up to 25 years, and repayment term of the subsidy is 5 years;
- maximum interest rate of the bank loan is 4.5% plus 6М EURIBOR, while the interest rate applied on the subsidised amount is 0%;
- maximum loan amount is EUR 100,000.
c) Mortgage:
- the mortgaged property may be either a registered or an unregistered real estate which has to be approved by both the bank and the NMIC.
3. RS Government subsidy in accordance with the Programme of Home Loan Subsidies for Military Professionals in 2012
а) Borrower/co-borrower:
- the applicant is a military professional;
- he/she and/or his/her spouse do not own a dwelling in full or an active home loan; if any of the two own a property/properties, the home loan he/she is applying for makes the difference between the value of the owned property and EUR 100,000 converted into RSD.
b) Home loan:
- the budget means make not less than 14% and not more than 25% of the property price or the wanted loan amount;
- the fee to process the bank’s application makes up to 0.5% of the loan;
- term of the bank loan is up to 25 years, and repayment term of the subsidy is 5 years;
- maximum interest rate of the bank loan is 3.5% plus 6М EURIBOR, while the interest rate applied on the subsidised amount is 0.1%;
- maximum loan amount is EUR 100,000.
c) Mortgage:
- the mortgaged property may be either a registered or an unregistered real estate which has to be approved by both the bank and the NMIC.
