Pensioner Loan with Free Life Insurance Policy
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About the loan
With the support of the initiative of the Central Bank of Montenegro (CBCG), Universal Capital Bank AD Podgorica has created a special loan offer for pensioners, providing financial security with the lowest interest rates on the market. This product is ideal for pensioners who want to achieve their plans, whether it is home renovation, travel, covering unforeseen expenses or simply improving the quality of life.
Universal Capital Bank presents a unique pension loan offer, designed to support the oldest citizens of Montenegro in preserving their standard of living. This offer is valid until 31 March 2025, it allows pensioners to obtain a loan of up to 12,000 EUR with a repayment period of up to 84 months and a free life insurance policy.
Don't wait! Take advantage of this opportunity and achieve financial security today.
Main Features
The loan is secured by life insurance for which the Bank pays a premium, with a very favourable interest rate of 7.50% per annum. The main advantages are:
- Fast loan approval process
- Free life insurance policy
- Loan secured by life insurance for which the Bank pays a premium
- The most favorable interest rate
Option | Pensioner (Cash and Refinancing) |
|---|---|
Nominal Interest Rate | 7.50 % |
Maturity | up to 84 months |
Repayment Method | In Equal Monthly Annuities |
Collateral | Promissory Note, Administrative Ban, Life Insurance Policy, Other |
One-Time Fee | 0%, until 31.03.2025. |
Note | Maximum Amount €12,000.00 |
Representative Example:
Total Loan Amount | €12,000.00 |
|---|---|
Number of Installments | 84 |
Monthly Obligation Amount (Installment) | €182.56 |
Loan Processing Fee | €0.00 |
Fee for Providing Data from the Credit Registry of the Central Bank of Montenegro | €3 |
Cost of Purchasing Two Promissory Notes | €4 |
Nominal Annual Interest Rate | 7.50% |
Effective Interest Rate | 7.52% |
Total Interest | €3,401.80 |
Total Costs* | €3,408.80 |
Total Amount Client Needs to Pay | €15,408.80 |
Note: Total costs represent the sum of interest for the entire period in the amount of 3,401.80 EUR, costs of the loan approval fee 0 EUR, cost of 2 promissory notes (4.00 EUR) and cost of querying the Credit Registry of the Central Bank of Montenegro (3.00 EUR). The total amount that the client has to pay is 15,408.80 EUR. The life insurance policy is paid by the Bank and therefore is not included in the EKS calculation.
A representative example is shown in the calculation example from 26 December 2024.