Terms and Conditions

 

 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.