RESPEKT loan is the best choice for the pensioners who need cash.
Target clients
It is intended for all pensioners of the Montenegrin Pension Insurance Fund who receive their pension with Podgorička banka.
Important information
- Loan approval in a day!
- The loan is approved in the amounts from € 300 to € 15,000, with life insurance policy up to 20.000 €
- For amounts up to € 12,000 free insurance policy is provided, no need to present a health card in this case, repayment up to 78 years of age
- Repayment period is from 6 to 72 months
- The loan is approved at fixed interest rate.
Administrativna naknada
|
Sample of cash loan |
|||
|
Loan amount |
2.000,00€ |
7.000,00€ |
|
|
Repayment period |
36 months |
72 months |
|
|
Nominal interest rate (annual) |
8,49% (no life insurance) |
9,99% (with life insurance) |
|
|
Monthly instalment |
62,83€ |
128,13€ |
|
|
Administrative fee |
26,00€ |
91,00€ |
|
|
Total interest |
261,88€ |
2.225,36€ |
|
|
Effective interest rate |
9,64% |
10,54% |
|
|
Total costs* |
287,88€ |
2.321,36€ |
|
|
Total debt |
2.287,88€ |
9.321,36€ |
|
*Total costs are the sum of interests for the entire period, administrative fees, fees for bills (2€) and inquiry in Credit registry of CBMNE (3€). Insurance policy costs that are not included in total costs, total debt and effective rate calculation, will be included in final calculations.
General terms of approval
The loans are approved to the creditworthy loan applicants who received at least one pension through the account with Podgorička banka. A creditworthy applicant is a client who is able to repay his/her total monthly obligations including the loan installment with a half of his/her pension.
Loan collateral
- bill of exchange signed by the client (and guarantor if required under the loan requirements) and bill authorization
- administrative prohibition for the client (and guarantor if required under the loan requirements)
- approval to debit the account
- warranty agreement for the guarantor
- standing order for the debtor
- life insurance policy
The bank may require additional collateral (warranty of the legal entity, more guarantors).
Required documentation
- Loan application
- Statement of income
- Administrative prohibition
- Blank bill of exchange
- Copy of ID card
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