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Main Characteristics

Characteristic

Promotional offer:
Housing loan: For all applications received in the promotional period from 01.08.2020
  • 100% release of administrative fee
  • 100% release of appraisal fee

Advantages

  • Repayment period up to 30 years
    • For purchase, construction, extension and superstructure: up to 30 years
    • For purchase of business premises: up to 20 years
    • For purchase of a construction lot: up to 15 years
  • Guaranteed interest rates for the first 5 or 10 years
  • NO fee for early loan settlement from own funds
  • NO deposit, NO guarantors, NO administrative wage garnishment, NO bill of exchange
  • Possibility to put a mortgage on the flat to be purchased
  • The co-borrowers may be individuals who are not members of the immediate family  
  • With each approved application – pre-approved credit card with a limit depending on the amount of the loan  
  • EUR: denar loan with a foreign currency clause; MKD: denar loan

Purpose

  • Purchase of a new / old flat or house form an individual or legal entity  
  • Purchase of a house with a land
  • Purchase of a construction lot
  • Purchase of business premises
  • Construction of a house
  • Extension / superstructure of a flat / house  
  • Possibility to refinance a housing loan from other bank  

Bank charges

  • In amount to 200,000 EUR for all purposes apart from purchase of business premises
  • In amount to 100,000 EUR for purchase of business premises

For loans with life insurance

  • 3.00% fixed for the first 5 years, for payroll/pensioner SB clients or 
  • 3.50% fixed for the first 10 years, for payroll/pensioner SB clients.
  • For all other clients 4.20% fixed for 3 years. 

For loans WITHOUT life insurance

  • 3.20% fixed for the first 5 years, for payroll/pensioner SB clients or
  • 3.70% fixed for the first 10 years, for payroll/pensioner SB clients.  
  • For all other clients 4.40% fixed for 3 years. 

Variable interest rate for the remaining period EUR/MKD  

  • 6.17% for payroll/pensioner SB clients
  • 6.85% all other clients

Repayment and fees

  • Equal monthly annuities
  • NO charge for early partial or full loan settlement from own funds
  • For refinancing of housing loans from SB into other banks 3% charge of the refinanced amount (only for loans secured by pledge on immovable property)  
  • Application fee: 600 MKD for all clients
  • Administrative fee: 0% of the amount of the approved loan, one-time payment
  • Appraisal fee in the amount of 0 MKD for a property offered as security
  • Costs for insurance of the mortgaged property,
  • Notary fee for establishment of a notary act and registry in the Cadastre
  • Mortgage on the property with a value from 125%-250% of the loan amount, depending on the location of the property  

Criteria and Documentation

Criteria

  • Citizen of the Republic of North Macedonia
  • Compulsory own participation of at least 10% of the value of the flat to be purchased (depending on the value of the collateral and the creditworthiness of the client)
  • Minimum monthly salary in the amount of 9,100.00 MKD for each participant in the loan, individually.
  • The client shall be minimum 20 years of age (at the time of submitting the application) 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.
  • Co-borrowers may be members of the immediate family (a parent, child or spouse), on the contrary the following requirements shall be met:
    • the co-borrower shall be a client receiving salary/pension on a SB account,
    • 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
  • 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 RNM appear as borrowers/co-borrowers. The following conditions also apply:
    • The Employment Certificate as well as latest annual tax statement submitted to the tax authority in the country where they are employed must be translated by an authorized translator.

Documentation

  1. Housing loan application form (for the borrower 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. 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. Property certificate for the mortgaged real estate (for all purposes), not older than 6 months  
  6. Birth Certificate (not older than 6 months) / Marriage Certificate issued by RNM (for the borrower and co-borrowers) 
  7. Provided that the collateral is a house, the land should have an established property right or a right for a long term lease 
  8. Consent for report submission by Macedonian Credit Bureau AD – Skopje (MCB) (for the borrower and co-borrowers)
  9. Additional documentation required by the bank
  1. For purchasing
    1. Pre-agreement /agreement for purchased flat / house / business premises certified by a notary public
    2. Extract for the Detailed urban plan or a confirmation issued by the municipality that the land in within a construction area (only for purchase of a construction lot)
  2. For all types of construction (in case another property is offered as a collateral)
    1. Extract for the Detailed urban plan (DUP)
    2. Effective building permit
    3. Basic project certified in the municipality and by a design bureau
    4. Priced bill of quantities  for the positions for which loan is requested
  3. For refinancing a loan from other bank
    1. Copy of the notary act with a contract
    2. List of payments
    3. Latest payment schedule
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