Procurement of official pickup truck or automobile on credit with repayment period of up to 7 years – Volks bank in Serbia represented new arrangement

Volks bank in Serbia started to approve loans to the entrepreneurs and small companies in Serbia for procurement of vehicles with the repayment period of up to 7 years.

The minimal amount of the loan is 5,000 EUR, effective interest rate, with deposit of 20%, amounts to 10.45% on annual basis, whereas, with the down payment of 10%, interest rate amounts to 11.68% on annual basis.

For the loans of up to 20,000 EUR it is necessary to have one endorser, whereas, for the higher amounts, the mortgage on a real estate is required. The only expense the client should pay is the fee for processing of credit in amount of 2%.

The loans can be taken by the entrepreneurs and companies which realized income of 700,000 EUR in 2005.