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Subsidized mortgage loans in Banca Intesa

Starting from today, Banca Intesa will receive application forms for subsidized loans in all its branches throughout Serbia. Loans are intended for citizens of the Republic of Serbia residing on the territory of the Republic, at the age of 45, with no housing issue solved, and no mortgage loan in use, whose salary does not exceed RSD 120.000. The maximum amount of the loan is EUR 100.000 , with the tenor of 30 years, and the fund provided by the Ministry of Economy and Regional Development for financing participation and subsidized interest rate for mortgage loans till the end of this year reached RSD 450 m. The subsidized interest rate until October 31, 2012, pursuant to the Decision of the government of Serbia is fixed and amounts 5,25 per cent, whilst starting from November 2012, the borrowers will pay the stated interest according to the model 6M euribor (six-month value of the euribor) + 4,5 per cent.

The program is to enable citizens to buy flat more easily and in a cheaper way, whereby they must ensure 5 % of down payment for the loan, whilst the government shall provided from the budget free-of-interest loan for down payment from the additional 20 per cent; and the Bank shall finance the rest of 75 per cent of the amount. A special benefit is that loan users shall pay no interest on these loans in first three years, i.e. till October 31, 2012, while the last five years of the loan repayment, borrowers shall repay the free-of-interest loan to the government for the 20% of down payment.