Overview of interest rates for loans
Overview of interest rates for retail loans
Retail loans
Product name |
Repayment period
|
Nominal interest rate NIR
|
Effective interest rate EIR
|
Type of interest rate |
|---|---|---|---|---|
Non-purpose loan |
60 months |
4.29% |
6.63% |
Fixed |
Housing loan |
120 months |
3.39% |
3.80% |
Fixed |
Loan for purchase of business premises |
240 months |
3.99% |
4.28% |
Variable |
Housing PLUS |
120 months |
3.39% |
3.59% |
Fixed |
Car loan |
84 months |
4.19% |
6.33% |
Variable |
Pensioner loan |
120 months |
5.99% |
8.19% |
Fixed |
Mortgage loan |
120 months |
3.69% |
4.05% |
Variable |
Lombard loan |
120 months |
2.00% |
2.46% |
Fixed |
* Effective interest rates (EIRs) for loans with a mortgage are calculated on the maximum amount and the specified loan repayment period for the Bank's clients, taking into account all costs that may be borne by the borrower (maintenance fee for a current account, loan processing and management fee, fee for CLR report, costs of promissory notes, certification of necessary documents and insurance policies, real estate appraisals and notary costs).
* The effective interest rates (EIRs) for loans without a mortgage are calculated for a maximum amount of BAM 50,000 and the specified loan repayment period for the Bank's clients, taking into account all costs that may be borne by the borrower (maintenance fee for a current account, loan processing and management fee, fee for CLR report, costs of insurance policy, costs of bills of exchange and certification of necessary documentation).
Loans are approved with a fixed or variable interest rate for up to 10 years in BAM or a combined interest rate of up to 30 years.
Over 10 years of repayment, loans are approved with a variable interest rate and with a currency clause in EUR according to the exchange rate of the Central Bank on the loan drawdown date.
*Effective interest rates (EIRs) for housing loans are calculated for the amount of BAM 200,000 and the specified loan repayment period for the Bank's clients, taking into account all costs that may be borne by the borrower (maintenance fee for a current account, loan processing and management fee, fee for CLR report, costs of promissory notes, certification of necessary documentation and insurance policies, real estate appraisals and notary costs).
Default interest
The Bank calculates and charges default interest (interest upon maturity) on the Bank's overdue claims on consumer loans for the period from the maturity of the claims until their settlement. The default interest rate is determined by the Default Interest Rate Law and is subject to change in accordance with changes to the Default Interest Rate Law or other regulations that regulate the default interest rate.
Default interest on retail facilities is calculated at the legal default interest rate, except for facilities where the nominal interest rate is higher than the legal default interest rate. For retail facilities, where the nominal interest rate is higher than the legal default interest rate, the calculation of the default interest rate is made in the amount of the nominal interest rate.
Default interest is calculated based on the actual number of days in a year (365/366 per year) using the conforming method and the decursive method of calculation.
