Car loan

__Car loan__
  • Loan calculator

    Desired amount 600.000 den.

    Number of months 12

    Interest rate

    7.26 %

    Monthly annuity

    6.342

    Total to be paid off

    107.822

    Total interest

    7.822

    TCR of 0 %.

    *The amount of TCR is influenced by the repayment time limit, amount of credit, amount of costs included in calculation of TCR, capitalized interest and amount of nominal interest rate.

  • Линкови десно

CREDIT DESIGNED FOR PURCHASE OF A VEHICLE

New or used car, now you can buy one without guarantors with the car loan according to your budget and needs

  • MINIMUM DOWN PAYMENT This type of credit gives you a chance to get your car with a minimum 20% down payment.
  • ANY CAR You can buy any new car from any car dealer.
  • 84 MONTHS AT MOSTAccording to your wishes and financial abilities, you can pay off the credit in 84 months.
  • NO GUARANTORS Credit application doesn’t require guarantors or additional collateral.
  • BENEFITS Additional benefits when buying passenger or commercial car.

Credit characteristics

  • Maximum amount 2,000,000 denars.
  • Repayment time limit: up to 84 equal monthly annuities.
  • Interest rate
    • The initial interest rate amounts to 10,5% of MKD per annum. It is variable and changeable according to the changes in the referent interest rate published by www.nbrm.mk and after a half a year (June 30th and December 31st) it increases by 7.5%, however not less than 10,5% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied if the credit amounts to 80% of the vehicle’s value (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary;
    • The initial interest rate amounts to 7,5% per annum for the credits with foreign currency clause. It is variable and changeable according to the changes in the 6 month EURIBOR published by http:/www.euribor-rates.eu/ and after half a year (June 30th and December 31st) it increases by 7,77%, however not less than 7,5% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied if the credit amounts to 80% of the vehicle’s value (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary;
    • The interest rate amounts to 10% of MKD per annum. It is variable and changeable according to the changes in the referent interest rate published by www.nbrm.mk and after half a year (June 30th and December 31st) it increases by 6,75%, however not less than 10% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied if the credit amounts from 79% to 50% of the vehicle’s amount (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary;
    • The initial interest rate for the credits with foreign currency clause amounts to 7,4% per annum. It is variable and changeable according to the changes in the 6 month EURIBOR published by http:/www.euribor-rates.eu/ and after half a year (June 30th and December 31st) it increases by 7,67%, however not less than 7,5% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied only if the credit amounts from 79% to 50% of the vehicle’s value (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary;
    • The initial interest rate amounts to 9,5% of MKD per annum. It is variable and changeable according to the changes in the referent interest rate published by www.nbrm.mk and after half a year (June 30th and December 31st) it increases by 7%, however not less than 9,5% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied if the credit amount is less than 50% of the vehicle’s value (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary; for credits with foreign currency clause the initial interest rate amounts to 7,5% per annum. It is variable and changeable according to the changes in the 6 month EURIBOR published by http://www.euribor-rates.eu/ and after half a year (June 30th and December 31st) it increases by 7,77%, however not less than 7,5% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied if the credit amounts less than 50% of the vehicle’s value (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary;
    • The initial interest rate for the credits with foreign currency clause amounts to 7,5% per annum. It is variable and changeable according to the changes in the 6 month EURIBOR published by http://www.euribor-rates.eu/ and after half a year (June 30th and December 31st) it increases by 7,77%, however not less than 7,5% per annum and not more than the legal interest rate on arrears. The adjustment of the interest rate is made twice upon every semester (half a year). This interest rate is applied only if the credits amount is less than 50% of the vehicle’s value (according to the amount of the invoice), depending on the creditworthiness, thus, the monthly debt servicing must not exceed ½ (a half) of the credit beneficiary and co-credit beneficiary’s salary
  • Default interest within the legal default interest
  • Fee: up to 1,5% one-off for credit management, 250,00 MKD application costs

Collateral

  • Established right for pledge over the vehicle in favor of the Bank
  • Casco insurance of the vehicle with the insurance policy in favor of the Bank
  • Bill of exchange and bill statement signed by the credit beneficiary

Who can apply

  • Individuals – citizens of the Republic of Macedonia
  • Net salary of the applicant and guarantor can't amount less than 10.000 denars.

Documents

  • Pro-invoice for the vehicle to be purchased
  • Report on salary for the credit beneficiary
  • Confirmation on down payment
  • Document on collateral

NOTE:
  •  The Bank reserves the right to ask for additional documentation in order to prove the authenticity of the submitted credit application.
  • Annuities mature the last calendar day of the month.
  • Monthly annuities can't be higher than 1/2 of the salary of credit beneficiary and co-credit beneficiary