Q:
A:
Housing loan agreement signed with ProCredit Bank
Belgrade,
14 September 2005
Serbian Minister of Finance Mladjan Dinkic and Director of the National Corporation for Housing Loans Insurance Aleksandar Jovic signed today with Director General of ProCredit Bank Doerte Weidig an agreement on approving housing loans to citizens less than 45 years of age.
Author:
Tanjug
This contract will regulate the relations between the state and ProCredit Bank concerning these very favourable housing loans, which have a 25-year repayment period at an annual interest rate of 4.5 percent, and a government subsidy for the loan deposit.
Dinkic said that Serbia ranks first in the world with respect to the amount interest rates for housing loans have come down, noting that last year they stood at 12 percent and this year have reduced once to 8 percent and now are down to 4.5 percent.
The Minister of Finance said that the reduction in interest rates is the government's second best move this year, following the introduction of the value added tax (VAT). He repeated that ProCredit Bank is the fourth bank to enter the government's housing loan programme.
For those who do not meet requirements for the loans subsidised by the state, ProCredit approves loans with a 20-year repayment period and an interest rate ranging from 7.45 to 8.95 percent, depending on whether the client is required to leave a deposit or make a down payment.
Dinkic said that Serbia ranks first in the world with respect to the amount interest rates for housing loans have come down, noting that last year they stood at 12 percent and this year have reduced once to 8 percent and now are down to 4.5 percent.
The Minister of Finance said that the reduction in interest rates is the government's second best move this year, following the introduction of the value added tax (VAT). He repeated that ProCredit Bank is the fourth bank to enter the government's housing loan programme.
For those who do not meet requirements for the loans subsidised by the state, ProCredit approves loans with a 20-year repayment period and an interest rate ranging from 7.45 to 8.95 percent, depending on whether the client is required to leave a deposit or make a down payment.
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