Societe generale bank accepted Government’s proposal for subvention of mortgage loans for the young-interest rates lower by 1.5%

Societe Generale bank has signed the contract with the National Corporation for Insurance of Mortgage Loans and the Ministry of Finance of Government of Republic of Serbia and, on that occasion, offered interest rates that are 1.5% lower than those set by the State in the program for subvention of mortgage loans for the young. In ten days or so, as it was said on the occasion of signing of the contract by general director of Societe generale bank in Serbia, Filip Gidez, Minister of Finance, Mlađan Dinkić, and Jelena Pupovac-Kovačević, the representative of the National Corporation for Insurance of Mortgage Loans, this bank will start to approve laons in 48 branches in Serbia at nominal interest rate of 6.8%, which will result in reduction of interest rate from 4.5 to 4.38%. That practically means that the loan of €35,000 would require downpayment of €5,000, whereas monthly installment in first 20 years, when the loan is returned to the bank, will amount to €263, i.e. €167 in the last five years when the loan is returned to the State.