Loans

Our offer includes a range of credit products for different purposes. We offer favorable repayment terms and acceptable interest rates. The procedure is fast and simple. Our advisors will help you choose a loan that best suits your financial abilities.
When analyzing requests and approving placements, the Bank evaluates credit ability of the client, purpose – subject of financing and compliance with legal regulations and Bank's documents, client's ability to meet obligations towards the Bank and client's credit history, security instruments for the placement, Bank's exposure to that client and related persons in accordance with the law, as well as other factors that may influence the assessment of risk category and bringing of an adequate decision.

 


To determine the conditions for placement approval, the Bank makes an internal classification of natural persons into groups:

 

Group I clients include:

 

  • Clients who are top athletes (medal winners at the European or world competitions) with national pensions,
  • Clients who acquired the right to national pension based on years of service in the republic parliament,
  • Bank's employees, employees of other banks and the Central Bank of Montenegro,
  • Clients who had regular inflow three months in a row or who undertook to ensure regular inflows to their current account in the Bank based on personal income / pension in the amount of minimum EUR 1,500.00 monthly, under the condition of matching the sustainability of inflows with the loan term;
  • Clients who have savings in the Bank in the amount of minimum EUR 50,000.00 with residual maturity that is not less than six months,
  • Clients who are employed in companies that are evaluated by the competent authority of the Bank on the basis of previously defined criteria as the ones bearing low risk
  • Clients employed as seamen,
 Group II clients includes:

 

  • Pensioners
  • Clients employed in institutions financed from the Budget of the Republic of Montenegro,
  • Clients employed in government agencies, regulatory bodies or other institutions founded according to special laws as administrative or other bodies performing activities of public interest,
  • Clients employed in public institutions in which state or local government are majority owners or owners with more than 25% share in the ownership structure, which are assessed by competent authority of the Bank, according to previously defined criteria, as the ones bearing acceptable risk,
  • Clients employed in institutions on the financial market regulated and controlled by domestic or EU control bodies, as well as in other international institutions, embassies and representative offices of other states,
  • Clients who are employed in companies that are evaluated by the competent authority of the Bank on the basis of previously defined criteria as the ones bearing acceptable risk
 Group III clients includes:

  • Clients employed in companies who have regular inflows to their current/FX account in the Bank based on salaries and who have not been classified in the first two groups,
  • Clients who have regular income based on their entrepreneurial activity for which special licenses are required or university education.
Group IV clients includes:

 

  • Clients who receive regular income based on salary/pension to the account of another commercial bank.
  • Clients who have regular income based on their entrepreneurial activity, and have not been classified in the Group III

Interest rate for using loan products is fixed or variable and is calculated according to the proportionate method. Fixed interest rate is unchangeable during the contracted loan repayment term.

 

Interest rate for using credit card or borrowing based on current account is fixed and is calculated according to the proportionate method.

 

 

 

Contact:

For more information, please visit  a local branch of Lovćen banka AD or make an appointment by phone on +382 20 205 410 or send an e-mail to: krediti.fl@lovcenbanka.me