New name accompanied by new credits in Novosadska banka

Novosadska banka, a member of Erste Bank group, one of the biggest companies for financial services in central Europe, has represented new products from its rich credit offer for citizens: mortgage and express cash loans with exceptionally favorable terms. The bank approves mortgage loans to its clients with the repayment period of up to 20 years, with nominal interest rate of 7.95% on annual basis, whereas the maximal amount of loan is €100,000 in domestic currency. If, for example, one asks for a loan of €50,000 with repayment period of 15 years and effective interest rate 8.31%, monthly installment will amount to €375.
In addition to approval of loans from its own sources, Novosadska banka also approves loans in cooperation with the National Corporation for Mortgage Loan Insurance, for the purpose of which €15m will be set aside until the end of the year. These loans are intended for citizens aged 23 - 45 and they are realized under special conditions, with effective interest rate of 4.8% and composite interest rate of 4.4% on annual basis.

Novosadska banka has started approval of express cash loans of €200 – €10,000 in domestic currency with repayment period of up to six years and with the deposit of 20%. Nominal interest rate for clients of the bank is 11.5% and 13% for other citizens. If the user of the loan is a client of the bank, the effective interest rate on credit of €5,000 and repayment period of 5 years amounts to 13.64%, whereas other citizens have to pay effective interest rate of 15.52% on annual basis.