Money Asset Pledge Loan

Money Asset Pledge Loan

MONEY ASSET PLEDGE LOAN

If you want to use your available money assets as collateral, you may opt for our Money Asset Pledge Loan, which shall be approved in a fast-track procedure of one day after you submit the documentation required.

Loan Amount

For loans in MKD or EUR, up to 97% of the money assets pledged under the Money Asset Pledge Contract, but not more than the amount of the loan principal together with the interest on the credit.
For loans in USD, up to 90% of the money assets pledged under the Money Asset Pledge Contract, but not more than the amount of the loan principal together with the interest on the credit.

Interest Rate

  • Up to MKD 610,000 / EUR 10,000 / US $15,600 – 3-4 percentage points over the passive interest rate, but less than the reference interest rate + 8%
  • Over MKD 610,000 / EUR 10,000 / US $15,600 – 3 percentage points over the passive interest rate, but less than the reference interest rate + 8%

Reference interest rate for the period of 01.07.2017 – 31.12.2017:
- for loans in EUR/USD, one-month EURIBOR: -0,373% 
- for loans in domestic currency, the reference rate published by Bank: 3.25%

Calculation method

Proportional

Repayment period

Aligned with the term of the deposit.
The deposited funds remain blocked during the entire repayment period.

Collateral

Money Asset Pledge Contract

Response period

Within one working day after submission of the complete documentation.

Loan management commission

  • Up to 610,000 MKD/10,000 EUR/15,600 USD – one-off commission of 1% of the loan approved
  • Above 610,000 MKD/10,000 EUR/15,600 USD – one-off commission starting from 0.75% of the loan approved
  • 300.00 denars per an approved set of documents for denar loans or EUR 5.00 (at the NBRM middle exchange rate of the euro) or $6.00 (at the NBRM middle exchange rate of the dollar) for denar loans with a foreign currency clause

Early repayment fee

0% of the early repaid principal.

Renegotiation of terms

600.00 denars for change of conditions

If you meet the conditions for approval of a loan application:

  • You need to completely and duly fill in the loan application forms and present all other documents as indicated by the loan officer.
  • The loan is approved during the same working day.
  • If the loan application is approved, a Loan Contract and a Money Asset Pledge Contract are concluded.
  • Your money assets will be blocked as soon as the contracts are signed.

Documents required

  • A photocopy of the personal identification card of the loan applicant
  • A photocopy of the proof of deposited money assets
  • Application for approval of the Money Asset Pledge Loan.