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A:
Hypo Alpe-Adria Bank launches home loans
Belgrade,
17 December 2004
Director of the National Corporation for Housing Loan Insurance Aleksandar Jovic and members of the managing board of Hypo Alpe-Adria Bank, Vladimir Cupic and Markus Ferstl, signed today an agreement on crediting housing construction and purchase, and the bank has offered loans with a 20-year maturity, annual interest of 7.45 percent, and a deposit of 20 percent.
Author:
Tanjug
Cupic said that in the case of giving a 20 percent down payment, the annual interest is 8.95 percent.
Cupic said that the domestic market, with a 7.45 percent interest on home loans, is becoming more and more competitive and getting closer to that of Croatia, where interests on housing loans are around six percent. He expressed conviction that Serbia will reach that level in a year and a half from now.
Serbian Minister of Finance Mladjan Dinkic, who was present at the signing ceremony, recalled that Hypo Alpe-Adria is the sixth bank to join the National Corporation for Housing Loan Insurance, adding that the 7.45 percent interest is a significant improvement on the beginning of the year, when interests at domestic banks were 11-12 percent.
Dinkic said that next year will see tougher competition in the domestic banking market, which, according to him, will pull interest rates down.
Cupic said that the domestic market, with a 7.45 percent interest on home loans, is becoming more and more competitive and getting closer to that of Croatia, where interests on housing loans are around six percent. He expressed conviction that Serbia will reach that level in a year and a half from now.
Serbian Minister of Finance Mladjan Dinkic, who was present at the signing ceremony, recalled that Hypo Alpe-Adria is the sixth bank to join the National Corporation for Housing Loan Insurance, adding that the 7.45 percent interest is a significant improvement on the beginning of the year, when interests at domestic banks were 11-12 percent.
Dinkic said that next year will see tougher competition in the domestic banking market, which, according to him, will pull interest rates down.
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