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30. May 2016.
UniCredit Bank Participates in Program of Long-term Housing Loans for Professional Military Personnel of Serbian Armed Forces
Signing the Agreement with Ministry of Defence of the Republic of Serbia, UniCredit Bank entered the Program of long-term housing loans for professionals of Serbian Armed Forces in 2016.
Program includes subsidized housing loans, which are approved to a maximum amount of EUR 100,000 and repayment period of 30 years, with the fulfillment of all other conditions prescribed by the Ministry of Defence of the Republic of Serbia. The amount of client’s downpayment depends on the downpayment of the Republic of Serbia, which ranges from 14% to 25%, and together must amount at least 20%. For example, if the Republic of Serbia participates with 14%, minimum downpayment of client is 6%. Nominal interest rate for the amount which Republic of Serbia is financing amounts 0.1% per annum.
Current offer of UniCredit Bank’s housing loans which are approved to professionals of Serbian Armed Forces includes annual nominal interest rate, which is formed as the sum of 6M EURIBOR and a margin of 3.20%, and currently stands at 3.10% per annum. The effective interest rate amounts 2.48% per annum. In addition, the administrative cost is only 0.5% of the loan’s amount, while the fee for maintaining the loan is free of charge.
If client, for example, opts for subsidized housing loan in the amount of EUR 75,000, of which UniCredit Bank is financing the sum of EUR 60,000, with variable nominal interest rate of 3.10% and repayment period of 25 years, monthly installment which client would repay to bank would amount EUR 289.03. On the other hand, upon expiry of 25 years, in a period of 5 years client would repay the amount of EUR 15,000 to Republic of Serbia with annual nominal interest rate of 0.10%, and monthly installment of EUR 257.