SGME offers housing loans within the “1000+ apartments” project | Societe Generale Montenegro
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SGME offers housing loans within the “1000+ apartments” project

Societe Generale bank Montenegro participates in the new phase of the project "1000+ apartments" in cooperation with the Ministry of Finance and the Ministry of Sustainable Development and Tourism of the Government of Montenegro.

Anyone who meets conditions of this year's project will have the opportunity to buy a flat through a housing loan with a nominal interest rate 2.99% per annum, ie an effective interest rate of 3.03%, with a repayment period of up to 20 years, lower administrative fee of 0.3%, and with the possibility of grace period up to 12 months.

The Bank has recognized the importance of this year's project, which gives citizens the opportunity to satisfy one of the basic existential needs as easily as possible. The primary goal of Societe Generale Bank Montenegro is to respond in highest quality to the needs of Montenegrin citizens.

Sample of loan:

For a housing loan of 40,000 €, the repayment period 240 months, the nominal annual interest rate is 2.99%, while the effective interest rate is 3.03%, the monthly annuity is 220.85 €, the administrative fee is 120 €, total interest 13,004 €.
Total costs are 13.134€ and represent the sum of interests for the entire period, administrative fee, fee for bill of exchange (2€), inquiry fee for Credit registry report (3€) and fee for issuing title deeds (5€). Real estate appraisal and insurance policy costs which are not included in total costs, total debt and effective rate calculation, will be included in the final calculations.

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