Loan for Pensioners

Loan for Pensioners
  • Even up to 20 000 EUR without grantor with life insurance policy.

  • Repayment period from 6 to 60 months.

  • One-off payment to your Adriatic Bank account.

 

Product:

Adriatic Bank loan for pensioners with life insurance policy is a non-purpose cash loan. Clients may be pensioners with a regular retirement income, which at the time of repayment of the final installment loans are not older than 75 years. Loan is approved with repayment period up to 5 years and amount up to 20.000 EUR without grantor. Possibility of loan approval without life insurance policies. 

Approval conditions:

  • Client must have account in Adriatic Bank .

  • Total monthly financial burden of the client, including the new loan must not exceed 50% of the net pension.

Required documentation:

  • Duly filled and signed application form for overdraft loan;

  • Verified and signed confirmation on salary;

  • Two administrative wage/salary withholding orders stamped by the employer with whom the client works (if the employer verifies them);

  • Signed consent for application in the Credit department;

  • Proof of paid fee for application in the Credit department;

  • A copy of passport or ID card with phone numbers and address (original document to be presented);

  • Bill of exchange, which can be bought at the bank counter, and the bill of exchange authorization;

Pensioner loan

Annual nominal interest rate (NIR)

7,95 % - 8,95 % (depending on insurance policy as a collateral)

Annual effective interest rate (EIR)

9,44 %

Loan processing fee (it is charged once during loan disbursement)

0,50 % - 1,00 %

Commission for using data from Credit Register/Bureau of CBM

EUR 3,50

Fee for premature repayment of the loan

1,00 % of the amount of the loan that is prepaid if the period between the prepayment and maturity date is longer than 12 months and only for amounts higher than EUR 10.000,00

 

0,50 % of the amount of the loan that is prepaid if the period between the prepayment and maturity date is not longer than 12 months and only for amounts higher than EUR 10.000,00

Annual penalty interest

Nominal increased by 50 %

Maturity term

Up to 60 months

Representative example:

For Pensioner loan without insurance policy with amount of EUR 10.000,00, repayment period of 60 months, provision for loan processing 1,00% and included administrative costs two bills of exchange: EUR 4,00 € and Commission for using data from Credit Register/Bureau of CBM: EUR 3,50), nominal interest rate is 8,95 % while effective interest rate is 9.44 %. The sum of the total amount of the loan and the total amount of known loan costs amounts to EUR 12.446.69 and the amount of monthly installment is EUR 205.66.