Lovćen Bank has prepared a special offer for pensioners in the form of a loan that is now being approved in amounts of up to €15.000, with a repayment period of up to 96 months.
As a special benefit, the bank has enabled the approval of this loan without a loan processing fee and without the need to transfer the pension to an account at Lovćen Bank.
The loan is granted to all creditworthy pensioners of the Pension and Disability Insurance Fund of Montenegro, regardless of the amount of their pension (the minimum pension is assumed to be €450) and with a free insurance policy.*
The maximum age of the loan beneficiary on the date of expiry of the agreed repayment period can be up to 78 years.
Pensioners are served by all branches of Lovćen Bank throughout Montenegro, and the special offer is valid until 31.12.2025. Find more information at Loan for pensioners or call the bank's Contact Center at 19993.
*Life insurance is free for loan amounts up to €12.000. For amounts over €12.000, insurance is not a requirement for obtaining a loan.
Representative example:
For a loan amount of EUR 12.000 and a repayment period of 8 years (96 months), the nominal interest rate (NKS) is 9,45% fixed per annum, and the effective interest rate (EIR) is 9,88%. The calculation of the effective interest rate (EIR) includes the nominal interest rate (NKS), a fee for 1 bill of exchange (EUR 2) and a fee for querying the Credit Register of the Central Bank of Montenegro (RKB) (EUR 3). The total amount that the client has to pay is EUR 17.153,48, while the monthly annuity is EUR 178,63. The total amount that the client pays is the sum of the principal, total interest, costs of the bill of exchange and querying the Credit Register. The mandatory means of security are the bill of exchange and the bill of exchange authorization of the loan beneficiary and an administrative ban. The costs of a life insurance policy are paid by the bank and are therefore not included in this EIR calculation. The calculator is for information purposes only and certain values may vary.
( Lovćen Bank )
