Housing credit with grace period included

__Housing credit__ with grace period included
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    EUR
    DEN

    Desired amount 1.000.000 den.

    Number of months 12

    Interest rate

    7.8 %

    9.9 %

    Monthly annuity

    6.342

    5.163

    Total to be paid off

    107.822

    63.169

    Total interest

    7.822

    3.169

    * values for first two years

    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.

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Housing credit with grace period included

Are you buying a condominium, building a house, renovating the home? The housing credit of Eurostandard Bank gives you an answer to all questions with favorable and simple terms of financing and 1 year grace period included

  • Up to 150,000 EUR Possible amount of 150.000 EUR in denar counter-value.
  • Purpose Condominium or house, new or renovation.
  • Interest rate of 5,0% on annual basis
  • Up to 25 years up to 25 years in equal monthly annuities in accordance with your wishes and financial abilities
  • Grace period This type of credit offers you a possible 1 year grace period

Credit characteristics

  • Maximum amount: 150.000 EUR in denar counter value depending on the credit worthiness of the credit applicant;
  • Repayment period: up to 25 years in equal monthly annuities;
  • Grace period: 1 year possible;
  • Interest rate:
    • For clients who receive their monthly salaries, in the bank the interest rate amounts to 6,5% of MKD per annum, which is fixed for two years. After the period of two years, the interest rate increases to 8% per annum and becomes variable. It is 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 5%, however not less than 8% per annum and not more than the legal interest rate on arrears.
    • For clients who do not receive their monthly salaries in the bank, the interest rate amounts to 6,9% of MKD per annum, which is fixed in the first two years. After that period of two years, the interest rate amounts to 8,5% per annum and it is changeable. This variable interest rate is 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 5,5%, however not less than 8,5% per annum and not more than the legal interest rate on arrears.
    • In the first two years, the fixed initial interest rate amounts to 5,9% for clients who do not receive their monthly salaries in the ESB bank and for credits with foreign currency clause. After the period of two years, the 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 7,6% per annum and not more than the legal interest rate of arrears. The adjustment of the interest rate is made twice upon every semester (half a year).
  • Default interest: as the legally proscribed interest rate;
  • Fees: up to 1% fixed, in advance, for credit management, minimum 1.000 MKD, 250,00 MKD application costs
  • Early repayment fee: up to 2% on the rest of the principal, except when the client applies for a new credit.

Collateral

  • Concluded right for pledge, mortgage over immovable property in favor of the Bank, worth minimum 120-150% of the credit value.
  • If the seller of the property if a credit beneficiary in the Bank the value of the property needs to amount at least 120% of the credit value, for others the property that has been pledged needs to amount at least 150% of the credit value;
  • insurance policy of the immovable property in favor of the Bank;
  • Bill of Exchange with B/E statement, signed by the Credit beneficiary and co-credit beneficiaries (if any)

Who can apply

  • Individuals who are citizens of the Republic of Macedonia, who shall pledge immovable property that is property of the credit beneficiary or other legal entity or individual.

Documents needed

  • Deed of title or document on pre-registration;
  • Appraisal by authorized appraiser;
  • Documents which identify monthly income of the credit applicant or co-credit applicants (if any) such as confirmation on salary, agreement on rent, contract on copyrights, pension cheque and other documents (the Bank keeps copy) and other documents;
  • ID of the spouse, copy or certified copy;
  • Documents on the seller (pro-invoice or draft agreement on purchase and sale)

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