Cash Loans

Description: Cash loan is intended for clients that receive regular income (salary/pension) on the transaction account opened with the Bank. This product type includes transfer of loan amount to the client’s account for use with no limitations. Approval of the loan, its amount and maturity period are determined by the creditworthiness and total indebtedness of the client.

Main Features of the Loan:

  • Up to 15.000 EUR up to 96 months of repayment based on administrative salary ban and personal promissory note
  • Over 15.000 EUR and up to 25.000 EUR, over 96 up to 120 months of repayment based on the first rank mortgage over property
  • Nominal Interest Rate from 6,49% pa.
  • Administration fee for the loan is from 1,00% of the loan amount

Main Collateral Elements Required:

  • Permanent labor contract
  • Administrative Salary Ban on the regular salary of the loan applicant (if applicable)
  • Bill of exchange of the loan applicant and/or guarantors
  • Signed guarantee agreement with natural person or legal entity guarantor (based on risk assessment)
  • First rank mortgage (based on risk assessment)
  • Life insurance policy (based on risk assessment)
  • Other collateral items that are deemed appropriate by the Management of the Bank

Required Documentation:

  • Loan application
  • Confirmation of employment status by the employer
  • Administrative salary ban
  • Authorization for enquiry at Regulatory Credit Bureau
  • Estimation report of immovable/s subject to mortgage (based on risk assessment)
  • Insurance policy of the immovable subject to mortgage endorsed for the use of the Bank (based on risk assessment)

Representative Repayment Schedule:

The table below demonstrates a representative repayment schedule of Ziraat Cash Loan; 

15.000 EUR
Maturity Period
Nominal Interest Rate
Monthly Annuity
302,31 EUR 
Administration Fee
1,00% of loan amount
Total Interest
3.138,55 EUR
Effective Interest Rate
Total Payments by the Client (*)
18.293,55 EUR
(*) Total payments by the client includes the loan amount, total interest, loan administration fee, cost of bill of exchange of 2,00 EUR and cost of the Montenegrin Credit Registry enquiry of 3,00 EUR. In total payments calculation and effective interest rate calculation, costs of estimation, real estate and life insurance have not been included. All costs will be included in final calculation.