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Bank of Cacak approves state-subsidised housing loans
Cacak,
1 February 2006
Representatives of the Serbian Ministry of Finance, the National Corporation for Housing Loan Insurance and the Bank of Cacak signed today an agreement on approving housing loans subsidised by the state for those below 45 years of age.
Serbian Minister of Finance Mladjan Dinkic told a press conference held at the Cacak Bank that the loans are favourable, with a 25-year repayment period and a 4.5% annual interest rate.
He added that the bank participates in the loans with 70% and the state with 30%, and that the maximum loan that can be approved is €100,000 in dinar counter value.
The National Corporation for Housing Loan Insurance has so far used €16 million for the programme of subsidised housing loans.
Dinkic said that this year the Serbian government set aside from the budget three times more funds for housing loans than last year and voiced hope that €60 million will be set aside for housing loans for the young, and that the total level of housing loans in this year will exceed €100 million.
He voiced satisfaction with the signing of the agreement with the Bank of Cacak, which he described as one of the strongest regional banks in Serbia, which managed to maintain its position in the face of strong competition with foreign banks.
He added that the bank participates in the loans with 70% and the state with 30%, and that the maximum loan that can be approved is €100,000 in dinar counter value.
The National Corporation for Housing Loan Insurance has so far used €16 million for the programme of subsidised housing loans.
Dinkic said that this year the Serbian government set aside from the budget three times more funds for housing loans than last year and voiced hope that €60 million will be set aside for housing loans for the young, and that the total level of housing loans in this year will exceed €100 million.
He voiced satisfaction with the signing of the agreement with the Bank of Cacak, which he described as one of the strongest regional banks in Serbia, which managed to maintain its position in the face of strong competition with foreign banks.
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