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with pledge of the car

Characteristics

Intended for purchase of a vehicle

  • Amount up to 30,000 EUR
  • denar loan with foreign currency clause
  • Clients receiving salary on a SB account 6.74% EUR
  • Other clients 7.49% EUR
  • Repayment period 1 to 7 years
  • Secured loan by establishing a pledge right in favour of the Bank, until full settlement of the loan.
  • CASCO vehicle insurance policy, vested in favour of the Bank
  • Equal monthly annuities
  • The loan repayment, for all holders of SB accounts might be done via :
    • Standing order
    • i-bank services od SB
  • No fees for early loan settlement

Bank charges

  • Minimum monthly net salary in the amount of 9,100 MKD for each participant in the loan, individually.
  • Administrative fees  in the amount of 1% of the amount of the approved loan, one-time payment
  • Notary fee for establishment of a pledge on the vehicle and registry in Central Register
  • Costs for CASCO vehicle insurance for the entire loan repayment period
  • Compulsory participation when purchasing the vehicle:
    • min. 20% of the vehicle’s value in the amount up to 16000 EUR
    • min, 25% of the vehicle’s value in the amount over 16000 EUR

Criteria and documentation

Criteria

  • Individuals, residents
  • The client shall be at least 20 years of age at the time of submitting the application and maximum 67 years of age (at the date of loan settlement).
  • If a co-borrower is included in the application, for clients receiving salary/pension on a SB account, the age limit may be extended up to 70 as of the date of loan settlement
  • Co-borrowers may be a member of the immediate family (parent, child, spouse),  on the contrary the following requirements shall be met:
    • the co-borrower shall be a client receiving salary on a SB account (for at least 1 month), or
    • the co-borrower shall be a client  with an existing loan product in SB or at any other bank and with good credit history
  • For the accepted co-borrower (regardless whether they are members of the immediate family) 100% of the co-borrowers’ income and debts is taken into DTI calculation

Documentation

  1. Car loan application form
  2. Copy of ID or passport  (for the borrower, co-borrowers and mortgage debtor)
  3. For clients receiving salary on a SB transaction account, only a transaction account statement for the last three months is required
  4. For clients not receiving salary on a SB account, Certificate of Employment, signed and certified by the employer (not older than 30 days), and if necessary other documents to serve as proof of the monthly salary. The clients employed in private companies that are not joint-stock companies or state/public enterprise are required to submit a PP53 form (Declaration for receipt from PRO) for the last month.
  5. Pro-forma invoice issued by the Car dealer regarding the sale of vehicle;
  6. Depending on the marital status the borrower shall submit:
    1. For individual who are not married, a copy of the Birth Certificate (not older than 6 months) or a copy certified by the MIA stating that no changes have been made into the existing certificate;  
    2. For individuals who are married, a copy of the Marriage Certificate (without any restriction on the issuance date of the certificate).
  7. The co-borrower  who is a member of the immediate family is required to submit valid Marriage Certificate or Birth Certificate
  8. Consent for report submission by Macedonian Credit Bureau AD – Skopje
  9. Additional documentation required by the bank
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