Volksbank in Serbia decreased interest rate for residential credits

Volksbank in Serbia has decreased interest rate for residential credits indexed in eur, and increased payment deadline from 20 to 30 years.

For credits with 30% of deposit, the rate is now 4.9% (EKS 6.79%), and with 20% of deposit is 6.5% (EKS 8.35%). For credit with 20% of deposit, annual interest rate will in future be 6.95% (EKS 7.39%).

The newley introduced model of residential credit in Serbia is a model with 10% of deposit an annual interest rate of 7.25% (EKS 7.71%). This type of credit is cheaper, as there are no expenses of insurance through National corporation, and prolongation of the payment deadline to 30 years decreases monthly obligation.

Also, the advantage is in the valu of mortgage which should be in relation to the credit amount only 10% higher, which alows it to be put as a mortgage for purchased object.