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Housing loan with combined interest rate

While you’re choosing your new home, choose and combine interest rates! Switch from fixed to variable interest rate and vice versa. Every three years you have a choice.

Calculate the monthly installment for the loan amount requested and the desired repayment period.

0 EUR Loan
0 REPAYMENT PERIOD
0 ADM COST
0 ADM COST AMOUNT
0 EUR DOWN PAYMENT
0 NIR
0 EUR MONTHLY INSTALMENT*
* the calculator is indicative only.

Calculate the monthly installment for the loan amount requested and the desired repayment period.

Amount of real estate
DOWN PAYMENT
REPAYMENT PERIOD
0 EUR Loan
0 months REPAYMENT PERIOD
0 ADM COST
0 ADM COST AMOUNT
0 EUR DOWN PAYMENT
0% NIR
0 EUR MONTHLY INSTALMENT*
* the calculator is indicative only.

Obtain a new apartment with the possibility to choose between fixed and variable interest rate

Opting for a new home and housing loan is an important life investment for each family, so they have to be chosen carefully for decades to come. Owing to our housing loans offer, you only have to opt for the location to live at and interest rate that suits you best.

This is the type of a housing loan that allows you to switch from variable to fixed interest rate and vice versa throughout the repayment period.

At the very beginning, you choose the interest rate you want to begin loan repayment with – fixed or variable. Every 3 years the Bank offers you the possibility to continue with the selected type of interest rate or to switch to another one, free of charge.

Why is it good for you?

If EURIBOR starts to grow, your loan instalment increases as well. In this case, you can switch to fixed interest and be protected from fluctuations in variable interest rate. When you estimate that variable interest rate is more favourable than fixed interest rate, you can return to it.

Basic conditions and features of housing loan with combined interest rate

Offer valid till 28.02.2018.

The bank reserves the right to make a decision on the loan approval, as well as to request additional documents and guarantees.

  • Combined housing loans are indexed in EUR. Amounts expressed in EUR are calculated in RSD equivalent at the NBS middle exchange rate on the day of placement of funds. The Bank adjusts the outstanding loan amounts indexed in EUR with variations in NBS middle exchange rate for EUR each last day of the month, by applying the exchange rate valid on the respective date against the exchange rate that was in effect on the last day of the previous month, except for the first month when adjustment is made according to the exchange rate that was in effect on the day of loan disbursement.

     

  • Down payment is not required if another registered property is mortgaged, the value of which exceeds the value of the loan amount by 30%.

  • Only one more, close family member who meets the same requirements as loan beneficiary, can assume the capacity of a joint debtor.

  • Wondering why it is important to insure your life during the repayment of housing loan? Housing loan is a life project. It lasts 15-20 years on average. In the event of unforeseen life circumstances it might happen that heirs cannot repay loan instalments for mortgaged apartment. In order to secure your family, it is important to get insurance. The insurance company will reimburse the outstanding loan amount and the bank will clear the mortgage. It all depends on you.

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Representative example
Representative example of a combined housing loan with initial fixed interest rate over the first 3 years, switched to variable interest rate
Property value50.000 EUR
Client down payment10.000 EUR
Bank loan amount40.000 EUR
Repayment period25 years
NIR annually over the first 3 years2,65%
Monthly instalment over the first 3 years183 EUR
NIR annually after the first 3 years2,95% + six-month EURIBOR
Monthly instalment after the first 3 years184 EUR
Administrative fee (1,50% of the loan amount)600 EUR
Costs associated with loan approval, known at the time of publishing
Bill of exchange50 RSD
Credit Bureau basic report246 RSD
Certification of pledge statement10.080 RSD
Property insurance - annually40 EUR in RSD equivalent
Life insurance - annually100 EUR in RSD equivalent
Issuing of real estate folio in the land register10 EUR in RSD equivalent
Real estate valuation100 EUR in RSD equivalent
NMIC cost (insurance premium and application processing)480 EUR in RSD equivalent
Mortgage registration20.000 RSD
EIR annually 4,02%
Total amount of loan (principal, interest and costs)60.205 EUR
EIR calculated on 24.04.2017.

The calculation of the effective interest rate contains the amount of life insurance and property insurance policies for the entire period of loan repayment. EUR-indexed loans are contracted in RSD equivalent at the NBS middle exchange rate on the day of submitting the application. The Bank adjusts the outstanding loan amounts indexed in EUR with variations in NBS middle exchange rate for EUR each last day of the month, by applying the exchange rate valid on the respective date against the exchange rate that was in effect on the last day of the previous month, except for the first month when adjustment is made according to the exchange rate that was in effect on the day of loan disbursement. The interest rate is variable and consists of a reference rate - six-month EURIBOR as a variable rate, and Bank’ margin as a fixed rate, in accordance with Bank’s Tariffs. Variable interest rate is adjusted on the first business day of each month in accordance with changes in the reference EURIBOR rate which, on the day of calculations for the sake of this representative example, i.e. on 24.04.2017. stood at -0,242. This offer is for guidance purposes only. For a personalized offer we are at your disposal at Societe Generale Bank branches.

Additional information on applying for a housing loan with combined interest rate

Loan applicant:

  • Permanent employment of indefinite duration minimum 6 months with the current employer
  • Minimum 20 years of age at the time of applying for a loan
  • Maximum 70 years of age at the time of maturity of the last instalment
  • Transfer of personal income to the current account held with Societe Generale Bank

Loan collateral instruments:

  • Endorsed life insurance and immovable property policies
  • Bill of exchange and promissory note authorization
  • First class mortgage over immovable property

You can take life and property insurance in each Societe Generale branch and thus complete the entire process easily and in one place.  Regular payment of insurance premium is provided through standing order which is free of charge and exempt from payments fee.

List of required documents
List of documents for housing loan with combined interest rate – project financing SGS – valid from 01.07.2017.
List of documents for housing loan with combined interest rate – project financing of another bank – valid from 01.07.2017.
List of documents for housing loan with combined interest rate with a mortgage on a registered real estate – – valid from 01.07.2017.
List of documents for housing loan with combined interest rate with a mortgage on an unregistered real estate – – valid from 01.07.2017.

7 steps to purchasing an apartment

Purchasing of an apartment is considered one of our most important life decisions. In order to make this “sweet torment” as easy as possible and gathering of documents smooth, take 7 steps to circumvent the process of applying for a housing loan and purchasing of future property.

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