Product description
The product is intended for customers who receive a monthly salary through the account of Adriatic Bank. The use of funds is with no purpose. The maximum amount of overdraft on transaction account is 3 monthly salaries. The contract is concluded for a period of 12 months with the possibility of automatic renewal. Loan repayment will be automatically made from the User’s transaction account at the time of inflow of the user’s either regular or extraordinary income.
- For all employed persons and pensioners
- Age: minimum 18 years
Conditions for loan approval
- Age: minimum 18 years
- Labour Contract for an indefinite period of time or Labour Contract for a definite period of time where the overdraft maturity is in accordance with the expiration of the Labour Contract.
- That client is receiving salary or pension through Adriatic Bank
- That a client is a citizen of Montenegro or non-resident with permanent employment in Montenegro
Necessary documentation
- Duly fulfilled and signed Loan application form
- Verified and signed income confirmation
- Two administrative ban orders verified by the client’s employer (if verified and executed by the employer)
- 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)
- Other documentation upon the request
Detailed information
Overdraft loan | |
|---|---|
Annual nominal interest rate | 20,00 % |
Annual effective interest rate (EIR) | 20,00% |
Fee for inquiry in the Credit Registry of the Central Bank of Montenegro | 3.00 EUR |
Annual penalty interest | Nominal increased for 50% |
Maturity period | 12 months |