Product description
Mortgage loans are intended for those who would like to invest in their own business, refinance existing loans or simply need more cash. They can also be used for purcahsing or building a new home.
- Most convenient method of calculating the interest
- Maturity from 6 to 120 months
Loan calculator
Loan calculator is for information only where total repayment amount includes only interest cost. All other expenses included in the loan processing are presented within representative example.
Conditions for loan approval
- Loan user should have permanent Labour Contract, opened and active account in Adriatic Bank
- Borrower must be a person older than 18 and repayment of the last annuity should be completed before the age of 67.
- Loan amount: Minimum 15.000 €
- Depending on the amount and maturity of the loan, the loan processing fee ranges from €225 to €801
- For clients under the age of 65, life insurance policy is not needed in the moment of final installment maturity
- For clients whose loan is due after the age of 65, life insurance policy is mandatory in the amount of ½ of the approved loan.
- First rank mortgage registered on the property in favor of the Bank
- Property insurance policy - assigned in favor of the Bank
Necessary documentation
- Duly fulfilled and signed Loan application form
- Verified and signed income confirmation
- Two administrative ban orders verified by the client's employer (in case that employer verifies and executes them.)
- Signed consent for inquiry into Credit register
- Evidence of paid fee for application in the Credit register
- Bill of exchange that may be bought at the Bank's teller and bill of exchange authorization
- A copy of passport or ID card with phone numbers and address (original document to be presented)
- Title deed on which the lien is registered, not older than 7 days from the day of documents delivery.
Detailed information
Mortgage loan | |
|---|---|
Annual nominal interest rate | 6.95% – 8.95% (depending on the Borrower’s category) |
Annual effective interest rate | 7.39% |
Loan processing fee (charged one-off upon loan disbursement) | Depending on the amount and maturity of the loan, the loan processing fee ranges from €225 to €801 |
Fee for data use from the CBCG credit register | 3.00 EUR |
Annual penalty interest | Nominal increased for 50% |
Maturity period | From 6 to 120 months |
Representative example | For the amount of the mortgage loan of EUR 50,000.00 and the repayment period of 120 months, the nominal interest rate (NIR) is 6.95%, while the effective interest rate (EIR) is 7.65% . In calculation of effective interest rates (EIR), nominal interest rate is included, one-time loan processing fee in amount of 750 EUR of the loan amount, fee for 2 bills of exchange (EUR 4.00), fee for inquiry into the CBCG Credit Register -RKB (EUR 3.00), the cost of a life insurance policy EUR (EUR 267.87) (The amount of the premium is paid once and depends on the client’s health condition), the cost of making a pledge statement (EUR 250), the cost of obtaining proof of ownership of real estate (5.00 EUR), the cost of registering a pledge on real estate (31.50 EUR) the cost of property insurance policy (39.40 EUR), the cost of real estate appraisal (80 EUR), (Total: 1.430,77 EUR). The total amount that the client should pay is 70.294,41 EUR, while the amount of the monthly annuity is 573.81 EUR. The total amount paid by the client is the sum of the principal, total interest and other fees related to the loan approval. The amount of the life insurance policy premium is paid once and depends on the client’s health condition. The approximate age taken in the example is 40 years, gender male. The area of the residential building taken in the example is 34m2, construction value 700 EUR per m2 |