The Director of Marketing, Development, Direct Banking and Coordination, Ana Stojanovic, said that the campaign of selling loans, which included housing, consumer and mortgage loans as well as loans for pensioners, lasted until the end of the year.
“Interest rates for housing loans will range between 4.99% and six-month EURIBOR, i.e. variable interest rate, while the fixed interest rates will range from 5.99%. We will offer loans without commission for their approval provided that a customer decides to take life insurance as collateral for the loan, and if he/she does not want life insurance, the commission for approval shall be one percent,” Ms Stojanovic explained.
At the press conference, she said that, during the campaign, customers would also have access to a free assessment of property to be purchased.
“Consumer loans for amounts of up to €15,000 are granted at 6.99% interest rate and the repayment period of up to two years and at 7.99 interest rate for repayment period up to ten years,” Ms Stojanovic explained.
As she added, mortgage loans up to €50,000 for a repayment period of up to ten years are possible to get at 7.99% interest rate.
“A special advantage will be applied to loans for pensioners at 7.99% interest rate for a period of up to ten years for amounts up to €10,000. The processing charge will be 0%, provided that a pensioner has life insurance,” Ms Stojanovic said.
These interest rates and conditions apply for “A” credit rating group of clients.
“Payment of loans via credit cards will allow customers to take advantage of additional benefits, i.e. payments in instalments at more than 250 locations, discounts for purchasing goods and services up to 15% at 200 locations of our discount partners, as well as to obtain a refund of up to 3% for any payment performed by credit card by October 1st”, Ms Stojanovic explained.
The Executive Director of NLB Montenegro Bank, Dino Redzepagic, said he expected to invest over €20 million in loans through this campaign.
He reminded that the bank operated stably and profitably this year.
“The positive result of €850,000 and 7% net income growth compared to last year, as well as €510 million balance sheet total, make us one of the largest banks in the market,” Mr Redzepagic said.
According to him, after the ongoing summer campaign including benefits of NLB contactless payment cards, they have prepared a number of advantages within loan offer for autumn and winter for all existing and new customers.
Asked to comment on the draft law on limitation of interest rates, Mr Redzepagic said that it was not of particular importance for NLB Montenegro Bank, because their average interest rates remained below the market average.
“It will make problem in the area of microfinance institutions (MFIs) that represent a specific segment of the market and I am not sure what ultimate impact it will have to them,” he said.
