Short-term loan for farmers
Loan amount
300 KM - 3.000 KM
Repayment
12 months
Loan processing fee
2% of approved loan (min. 20 KM)
Interest rate
Regular interest: 21,5% fixed
Default interest: 10%
Grace period
No
Additional costs
Bill of exchange 5,00 KM · Certification 4,00 KM
EKS*: 29,09%-66,03%
Example of Effective Interest Rate Calculation (EKS)
| Type of loan | Loan amount | Repayment | NKS | Processing costs | EKS |
|---|---|---|---|---|---|
| Credo pozajmica za poljoprivredu | 1.000,00 KM | 12 months | 21,50% | 2,00% (min. 20,00 KM) | 30,03% |
* The stated Effective Interest Rates (EIR) are calculated on maximum loan amounts and maximum repayment terms as well as on minimum loan amounts and minimum repayment terms.
Informative annuity calculation
| CREDO LOAN FOR AGRICULTURE | ||
|---|---|---|
| Loan amount | 6 months | 12 months |
| 300,00 KM | 53,20 | 28,00 |
| 500,00 KM | 88,60 | 46,70 |
| 1.000,00 KM | 177,30 | 93,40 |
| 2.000,00 KM | 354,60 | 185,70 |
| 3.000,00 KM | 532,00 | 280,10 |
* All credit products are linked to the EURO currency clause.
* MKD Credo Center presents / approves loans in KM indexed in EUR at the middle exchange rate of the CBBH on the day of drafting the contract.