Lovćen bank for pensioners

Loan for pensioners without guarantors, with free insurance policy

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Photo: Lovćen banka
Photo: Lovćen banka

Lovćen banka continuously expands its range of products and offers pensioners, along with numerous other services, two types of loans to choose from.

The last in the series is a pensioner loan with a free insurance policy, which the bank approves in amounts up to €12.000 and with a repayment period of up to 96 months. The loan is granted to pensioners of the PIO Fund of Montenegro, without guarantors and without inspection of the health record, and the bank bears the costs of the insurance policy instead of the client.

The age of the borrower at the end of the agreed repayment period can be up to 78 years.

Pensioners are at the service of all branches of the bank throughout Montenegro, as well as the new branch in Bulevar Knjiza Danilo Petrović, Business Tower Montenegro in Podgorica.

Find more information at https://www.lovcenbanka.me/stanovnistvo/kredit/kredit-za-penzionere or call the bank's Contact Center 19993.

Lovćen banka is celebrating 10 years of successful work this year, so numerous benefits are being prepared for clients.

Representative example:

"For a loan amount of EUR 5.000 and a repayment term of 60 months, the annual interest rates are: nominal interest rate (NKS) is 9,95% (fixed), effective interest rate (EKS) 10,64%. The calculation of the effective interest rate (ECR) includes the nominal interest rate, a one-time loan processing fee of 1% of the loan amount (50 EUR), a fee for 1 bill of exchange (2 EUR) and a fee for an inquiry into the Credit Register of the CBCG (RKB) (3 EUR). The total amount that the client needs to pay is EUR 6422,20, while the amount of the monthly annuity is EUR 106,12. The total amount paid by the client is the sum of principal, total interest, fees related to loan approval and the costs of promissory notes and inquiries to the Credit Register. The life insurance policy is paid for by the bank and is therefore not included in the EKS calculation. Mandatory means of security is a promissory note and promissory note authorization of the loan beneficiary. "