Long-term Loans for Financing Natural Persons, Owners of Registered Family Farms for Purchasing Land for the Purpose of Enlarging Agricultural Properties with Currency Clause

User

Natural person – holder of a registered family farm

Purpose

Purchase of a farm land

Basis / Terms

Cash account opened at the Bank, registered at the Administration for Agricultural Payments, settled tax liabilities, creditworthiness, with no outstanding arrearsbased on loans, active registered farm land, less than 50ha of farm lands in possession and other conditions in accordance with the Notification.

Loan Amount

up to 15,000,000 RSD

Loan Granting

Based on a certified premade bill of sale of farm land

Calculation Currency

EUR

Indexation Criteria / Loan Revaluation

The Bank grants loans to its clients in RSD with or without indexation/revaluation, depending on the type of loan. When granting or paying up loan indexed in foreign currency, the Bank applies the middle exchange rate of the National Bank of Serbia on the day of disbursing the loan, i.e, on the day of maturity of annuity.
During your loan repayment, the Bank may revalue the loan as well as outstanding arrears arising from borrowings, with a growth rate of consumer prices, monthly or in longer periods of time.

Amount of Annual Nominal Interest Rate

7,95%

Amount of Annual Effective Interest Rate

8,10%

Type of Nominal Interest Rate

Fixed

Loan Repayment Deadline

Up to 7 years from the day of receiving the first maturity of annuity

Loan Repayment

Loan repayment is done in equal half year annuities. The first one is to be paid on 15/12/2011. Every other one is to be paid on every 15/06 and 15/12 of the year. Annuity repayment (principal and interest rate) is done in dinar countervalue of the indexed amount in EUR by paying in dinar countervalue according to the middle exchange rate of the National Bank of Serbia valid on the day of maturity of annuity.

Collaterals

–Three blank promissory notes of the borrower for the Bank
–Guarantee of the Guarantee Fund of the Autonomous Province of Vojvodina which is irrevocable, unconditional, and payable for the first demand for 50% of the amount of the Loan increased by the amount of the agreed interest rate and possible default interest.
–First mortgage on farm land in proportion 1.3:1, pledged in favour of:

-the Bank, in the amount of 50% of the amount of the loan increased for the agreed interest rate and possible default interest and
- the Guarantee Fund of the Autonomous Province of Vojvodina, in the amount of 50% of the amount of the Loan increased for the agreed interest rate and possible default interest rate.

Fee for Processing Loan Application

0,50%

Three Bills of Exchange

150,00 RSD

Credit Bureau Statement for the Borrower

205,00 RSD

Early Loan Repayment

No charge

Other Terms

In cases of non-cash use, the loan can be declared mature in accordance with the contract.