In accordance with the initiative launched by the Central Bank of Montenegro, we are pleased to inform you about the adjustment of interest rates for selected loan products at Adriatic Bank AD Podgorica. Our mission is to enable you better financing conditions, thus supporting your economic needs in every situation. Take a look at our improved conditions and take advantage of the opportunity to realize your plans under more attractive conditions.
The action lasts until 31 December 2024.
Cash loan
- Maximum amount: EUR 20.000
- Maximum maturity: 84 months
- Current NIR: 6,95% -> New NIR: 6,50%
- Current EIR: 7,45% -> New EIR: 7,00%
Detailed information
Cash loan | |
|---|---|
Annual nominal interest rate (NIR) | 6.50 % (depending on the category of the borrower) |
Annual effective interest rate (EIR) | 7,00 % |
Loan processing fee (charged one-off upon loan disbursement) | 1,50 % |
Fee for inquiry in the Credit Registry of the Central Bank of Montenegro | 3,00 EUR |
Annual penalty interest | Nominal interest rate increased for 50% |
Maturity period | Up to 84 months |
Representative example | For a loan in the amount of EUR 20.000,00 and a repayment period of 84 months, with an approval commission of 1.50% and included administrative costs (two bills of exchange: €4.00 and a fee for insight in the CBCG credit register: €3.00) the nominal interest rate (NIR) is 6.50%, while the effective interest rate (EIR) is 7.00%. The sum of the total loan amount and the total amount of known loan costs amounts to EUR 25,103.07, and the monthly installment amounts to EUR 295.19. |
Pensioner loans (without insurance policy)
- Maximum amount: EUR 20.000
- Maximum maturity: 84 months
- Current NIR: 8,95% -> New NIR: 7,95%
- Current EIR: 9,12% -> New EIR: 8,13%
Detailed information
Pensioner loan | |
|---|---|
Annual nominal interest rate (NIR) | 7,95 % |
Annual effective interest rate (EIR) | 8,13%
|
Loan processing fee (charged one-off upon loan disbursement) | 0,50 % |
Fee for inquiry in the Credit Registry of the Central Bank of Montenegro | 3,00 EUR |
Annual penalty interest | Nominal interest rate increased for 50% |
Maturity period | Up to 84 months |
Representative example | For a loan in the amount of EUR 20.000,00 and a repayment period of 84 months, with an approval fee of 0,50 % and included administrative costs (two bills of exchange: €4.00 and a fee for insight in the CBCG credit register: €3.00) the nominal interest rate (NIR) is 7,95 % while the effective interest rate (EIR) is 8,13%. The sum of the total loan amount and the total amount of known loan costs amounts to EUR 26.022,04, and the monthly installment amounts to EUR 308,49. |
Mortgage loan
- Maximum amount: EUR 250.000
- Maximum maturity: 120 months
- Current NIR: 6,95% -> New NIR: 5,95%
- Current EIR: 7,52% -> New EIR: 6,51%
Detailed information
Mortgage loan | |
|---|---|
Annual nominal interest rate (NIR) | 5.95% (depending on the category of the borrower) |
Annual effective interest rate (EIR) | 6,83% |
Loan processing fee (charged one-off upon loan disbursement) | 1,00 % |
Fee for inquiry in the Credit Registry of the Central Bank of Montenegro | 3,00 EUR |
Annual penalty interest | Nominal interest rate increased for 50% |
Maturity period | Up to 120 months |
Representative example | For the amount of a mortgage loan of EUR 50,000.00 and a repayment period of 120 months, the nominal interest rate (NIR) is 5.95%, while the effective interest rate (EIR) is 6.83%. The calculation of the effective interest rate (EIR) includes the nominal interest rate, a one-time loan processing fee of 1.00% of the loan amount (EUR 500.00), a fee for 2 bills of exchange (EUR 4.00), a loan inquiry fee CBCG – RKB register (EUR 3.00), life insurance policy cost in amount of 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 the fee for obtaining a proof of ownership over real estate (EUR 5.00), the cost of registering a pledge on real estate (EUR 31.50), the cost of a property insurance policy (EUR 39.40), the cost of real estate appraisal (EUR 80), (Total: EUR 1,180.77). Total amount that client should pay is EUR 67,177.13, while the amount of the monthly annuity is EUR 549.94. The total amount that client pays is the sum of principal, total interest and other fees in connection with the loan approval. The premium amount of the life insurance policy is paid once and depends on the health condition of the client. The entry age taken in the example is 40 years, gender male. The area of the residential building taken in the example is 34 m2, construction value EUR 700 per m2. |