Serbia: Raiffeisen Bank Lowers Interest Rates on Housing Loans

2. März 2007, 00:00

Raiffeisen Bank in Serbia has announced that it has lowered the interest rates on all types of housing loans

Raiffeisen Bank in Serbia has announced that it has lowered the interest rates on all types of housing loans.

According to the announcement, the nominal interest rate for euro-denominated housing loans with collateral from the National Mortgage Insurance Corporation has been lowered from 6.95 per cent to 6.80 per cent.

The nominal interest rate for state-subsidised housing loans in the part provided by the bank has also been lowered from 6.95 per cent to 6.80 per cent.

The terms for loans not insured with the National Mortgage Insurance Corporation have also been changed, so the nominal interest rate for loans with client participation and denominated in euros has been lowered from 10.90 per cent to 10.50 per cent and for loans denominated in Swiss francs from 9.50 to 9 per cent.

For loans that include a deposit, the nominal interest rate has been reduced from 10.30 to 8.90 per cent for loans denominated in euros and from 8.99 to 7.45 per cent for loans denominated in Swiss francs.

According to the bank’s announcement, the reduction in the interest rates is an attempt, on the part of Raiffeisen Bank in Serbia, to make the loans more accessible to citizens. It is further stated in the announcement that, thus far, the banks approved 4,668 housing loans, the total value of which is EUR 134.67 million. Of that number, 2,413 are housing loans insured with the National Mortgage Insurance Corporation and 941 loans subsidised by the state.

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