Komercijalna Banka resumes approval of subsidized loans in 2010

Just like the last year, Komercijalna Banka has joined the Government of Serbia's this year's Programme for alleviation of negative effects of the global economic crisis in order to stimulate business activities and provide favorable loans.

As it announced today (January 27, 2010) the bank and the Development Fund of Serbia have signed the contract that includes the regulations governing the approval of loans with exceptionally favorable, subsidized interests.

- The loans are granted to enterprises for liquidity, capital funds and export, as well as for investments - it is stated in the announcement by Komercijalna Banka and added that the citizens would be granted subsidized consumer loans.

The plan is that the interest rate on the loans for liquidity, capital funds and export with the foreign currency clause be subsidized with about 4.5% on annual basis.

When it comes to the loans without foreign currency clause, that is, Dinar loans, the interest rate is calculated by subtracting 1.5% from the referential interest rate of the National Bank of Serbia, which means that the interest rate for end-user currently amounts to 8%.

The interest rate on the loans for investments without the guarantee of the Development Fund equals three-month Euribor plus 4% per year, while the interest rate on the loans with the Fund's guarantee equals three-month Euribor plus 2%.

The interest rate on the consumer loans for procurement of automobiles, tractors, building machines and trucks will amount to 4.5% on annual basis, while the interest rate on the loans for procurement of all other products amounts to 6%.