New package of mortgage loans in "Erste Bank", loans without down payment

On May 9, 2006, "Erste bank" in Serbia started to approve mortgage loans with repayment period of 30 years and annual effective interest rate of 6.66%.

According to the announcement, in the scope of that programme, which will last until May 24, 2006, there is possibility for obtaining of loan without down payment, but the installment in that case must be at least 50% of the total monthly incomes of the clients.

The aforementioned mortgage loans are approved in the amount of 10,000 - 200,000 EUR, and the administrative fees amount to 2% of the value of the approved loan.

The loan without down payment can be obtained by placement of mortgage on real estate whose value must be 1.3 times higher than the value of the loan.