Housing loans refinancing - Retail | Societe Generale

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Housing loans refinancing

With Societe Generale Bank loan refinance housing loans granted by other banks, and thus reduce interest and instalment. Variable or combined interest rate - it’s up to you.

Types of loans for refinancing of housing loans

Within its offer Societe Generale offers you to choose between two interest rate models

Prolong repayment period free of charge and include prepayment penalty and insurance policy expenses in the loan amount.

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Basic conditions and features of loans for refinancing housing loans

Offer valid till 30.09.2018.

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

  • Housing loans for refinancing 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.

  • For refinancing loan with combined interest rate

  • For refinancing loan with variable interest rate

  • 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 loan for refinancing housing loans with combined interest rate, without down payment
Mortgage value 50.000 EUR
Loan amount30.000 EUR
Repayment period25 years
NIR annually over the first 3 years0.0255
Monthly instalment over the first 3 years136 EUR
NIR annually after the first 3 years2,95% + six-month EURIBOR
Monthly instalment after the first 3 years138 EUR
Administrative fee (0% of the loan amount)0 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 4,05%
Total amount of loan (principal, interest and costs)45.153 EUR
EIR calculated on 25.05.2018.

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 25.05.2018. stood at -0,269. 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 refinance

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 if the property other than the purchased one is mortgaged
  • Second-class mortgage if the first-class mortgage had already been registered in favour of the bank whose loan is refinanced

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 refinancing of housing loans – valid from 01.07.2017.

Please submit the application via our online contact form, and we will contact you

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