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Home / Retail / Loans for Agriculture / 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 /

Long-term Loans for Financing Natural Persons, Holders of Registered Family Lands for Acquiring New Farm Machinery with Currency Clause (Based on Co-operation with the Guarantee Fund of the Autonomous Province of Vojvodina)

Borrower

Natural person – holder of a registered family farm

Purpose

Purchasing new farm machinery – combines, tractors, other self-propelled and towed farm machinery.

Loan

from 5.000 EUR up to 100,000 EUR

Calculation Currency

EUR

Indexation Criteria / Loan RevaluationArticle 3 of the Decision on Crediting Natural Persons
Amount of Annual Nominal Interest Rate

7,50%

Amount of Annual Effective Interest Rate

7,81%

Type of Nominal Interest Rate

Fixed

Amount of Annual Effective Interest Rate

7,84%

Type of Nominal Interest Rate

Fixed

Loan Repayment PeriodUp to 7 years from the day of maturity of the first annuity.
Grace period is until 15/06/2012 during which interest is calculated.
Using Funds of the Loan Granted

By making a payment to the seller’s account

Loan Repayment

Loan repayment is in equal half year annuities. The first annuity is to be paid on 15/06/2012. Every other one is to be paid on every 15/12 and 15/06 of the year. Annuity repayment (principal and interest rate) is done in dinar countervalue by paying in dinar countervalue according to the middle exchange rate of the National Bank of Serbia valid on the day of paying 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.

Fee for Processing Loan Application

1,00%

Three Bills of Exchange

150,00 RSD

Credit Bureau Statement for the Borrower

205,00 RSD

Early Loan Repayment

No charge