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CKB cash loan for pensioners

CKB Cash Loan for Pensioners with insurance policy is the best choice for the pensioners who need cash.

Target clients

It is intended for all pensioners and citizens of Montenegro or non-residents who live and receive their pension in Montenegro.


Advantages

  • The loan is approved in the amounts from €300 to €15,000
  • Repayment period from 6 to 72 months

Representative example

 5.000 EUR10.000 EUR12.000 EUR
Repayment period 60 months 72 months 72 months
(Annual) Nominal Interest Rate 10,49% 10,49% 10,49%
Monthly repayment 106,29 EUR 185,31 EUR 222,37 EUR
Administrative fee 85 EUR 170 EUR 204 EUR
Total interest 1.375,38 EUR 3.342,14 EUR 4.010,56 EUR
Effective Interest Rate 11,36% 11,21% 11,20%
Total cost of credit* 1.465,38 EUR 3.517,14 EUR 4.219,56 EUR
Total repayable 6.465,38 EUR 13.517,14 EUR 16.219,56 EUR

 

*Total cost of credit represents the sum of interest for the entire period, administrative fee, bill fee (€2) and fee for inquiry to the CBCG Credit Bureau (€3).

Loan calculator

Special advantage

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Annual nominal interest rate NIR

Annual effective interest rate

Loan approval fee

Fee amount

The loan calculator is for informational purposes only and cannot be used for other purposes. The calculation of the effective interest rate in this loan calculator includes the costs of the bill of exchange (2 EUR) and the inquiry to the Credit Registry (3 EUR), as well as the amount of the loan approval fee which is 1.7% of the loan amount



General requirements

  • Client's age must be maximum 78 on the last instalment date, for a loan with group insurance policy
  • Maximum 75 years of age on the last instalment date, for a loan with individual insurance policy
  • The loan is approved at an interest rate from 7.99% - 12.49%

Loan security

  • Administrative pension withholding order for the loan beneficiary
  • Administrative salary/pension withholding order for the guarantor
  • Bill of exchange (signed by the loan beneficiary and the guarantor, if specified in the contract) and authorization for the bill of exchange (signed by the loan beneficiary and the guarantor, if specified in the contract)
  • Bill of exchange and authorization for the bill of exchange of a corporate entity (in exceptional cases)
  • Life insurance policy (group and individual)

Documents required

  • Loan application form
  • Signed copy of ID card or copy of residence permit, for a non-resident
  • Personal data form
  • Administrative salary withholding order (unless the company is on the list of borrowers not subject to this requirement)
  • Bill of exchange and authorization for the bill of exchange
  • Pension cheque
  • Employment certificate (not older than 30 days, and for a guarantor as appropriate)
  • Consent for access to the Credit Bureau Register (RKB)
  • Copy of payment order for RKB
  • Certificate of job and salary

Condition list for retail loans

The Bank reserves the right to request additional security or documents, if considered necessary.

After collecting the necessary documents and signing the loan application, please visit one of our branches, where you can apply for a loan. If a guarantor is required as additional security, then the guarantor must also come to the branch at the time of submitting the application, and signing the bill of exchange and other documents.

CKB cash loan for pensioners

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