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Consumer secured renovation loan

Characteristics

Characteristics

Promotional offer

For all received application forms by 31.12.2019

  • 100% exemption from administrative costs
  • 100% exemption from appraisal costs
  • 100% exemption from notary costs for the establishment of the pledge right as well as the registration of the pledge right in the Real Estate Cadastre Agency for loans with new exposure at SB greater than 20,000 EUR

Advantages

Repayment period from 3 to 20 years

  • Amount up to 80,000 EUR (in denar counter value)
  • The funds of the approved loan shall be disbursed on the SB transaction account of Individuals
  • EUR: denar loan with a foreign currency clause; MKD: denar loan
  • Guaranteed interest rate for the first 5 years
  • An option for repayment with standing order or via i-bank channels of the bank is available for each holder of an account with SB
  • Additional amount over the amount of  SB housing loan  
  • NO deposit, NO guarantors, NO administrative wage garnishment, NO bill of exchange ,
  • The co-borrower may be individuals who are not members of the immediate family  
  • Fast and simple procedure (initial pre-approval within 24 hours)
  • No application costs if applying for housing loan at the same time
  • With each approved application – pre-approved credit card with a limit depending on the amount of the loan  

Bank charges

  • For loans with life insurance EUR/MKD:
    • 3.50% fixed for 5 years for clients receiving salary/pension on a SB account  
    • 4.20% fixed for 3 years, for clients not receiving salary/pension on a SB account  
  • For loans WITHOUT life insurance EUR/MKD:
    • 3.70% fixed for 5 years for clients receiving salary/pension on a SB account  
    • 4.40% fixed for 3 years, for clients not receiving salary/pension on a SB account  
  • Variable interest rates for loans with/without life insurance
    • 6.17% variable for the remaining period  for clients receiving salary/pension on a SB account  
    • 6.85% variable for the remaining period  for clients not receiving salary/pension on a SB account  
  • Fee for early partial or full settlement: 0% provided that the settlement is made following the expiry of the first 20% of the initially approved repayment period, on the contrary 3% (only for loans secured by pledge of immovable property)
  • If the housing loan along with the Consumer secured loan are simultaneously applied for, the housing loan from other banks is refinanced in Stopanska banka:
    • 0 MKD for a fee for establishment of a notary act and registry in the Cadastre (provided that the both loans are in a single notary act)
    • 0 MKD for a fee for appraisal of the mortgaged property
    • 0% administrative costs
  • Application fee in the amount of 0 MKD for all clients provided that the borrower applies for both – housing and consumer loan at the same time. On the contrary the fee in amount of 600 MKD shall be charged 
  • Administrative fee: 1.25% of the amount of the approved loan shall be charged  one-time
  • Appraisal fee: 2,500 or 5,000 MKD (depending on the location ) of the mortgaged property shall be charged one-time
  • Insurance fee and mortgage registration  
  • Fees for establishment of a notary act.
  • Mortgage on the property with a value of 154%-215% from the loan amount, depending on the location of the property  

Criteria

  • Individuals, residents
  • Minimum monthly salary in the amount of 9,100.00 MKD for each participant in the loan, individually.
  • The age of the client at the time of submitting the application shall be min. 20 and maximum 70 years of age at the date of loan settlement. Provided that there is minimum one co-borrower involved than the maximum age of the client on the date of the loan settlement shall be 75.
  • Apart from being a member of the immediate family (a parent, child, spouse), the co-borrower may also be a person who fulfils the following requirements :
    • to be a client receiving salary/pension on a SB account,
    • to be a client  with an existing loan product in SB or at any other bank and with good credit history
  • Individuals, citizens of the Republic of North Macedonia, who are employed abroad, may be accepted as borrowers/co-borrowers only in cases when members of the immediate family with a permanent employment in RM appear as borrowers/co-borrowers.   

Documentation

  1. Consumer loan application for (for borrowers and co-borrowers)
  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. All other – Pension slip / Employment Certificate, signed and certified by employer’s authorized person (not older than 30 days), and other documentation required in order to prove the amount of the monthly salary.  
  5. Birth Certificate (not older than 6 months) / Marriage Certificate issued by RNM  (for the borrower and co-borrowers) 
  6. Property certificate for the mortgaged real estate, not older than 6 months  
  7. Provided that the collateral is a house, the land should have an established property right or right for a long term lease 
  8. Consent for report submission by Macedonian Credit Bureau
  9. Additional documentation required by the bank

 

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