Loans for a car or vessel purchase / Refinancing of loan for a car or vessel purchase

Key feature 
  • From EUR 1.000 to EUR 20.000
  • Repayment period from 3 to 60 months
  • Nominal interest rate from 6,25% (fixed)
  • Effective interest rate from 6,43%
  • Bank fee up to max. 2% of the loan amount
  • Fast and simple way to get loan



Security instruments
  • Administrative withholding order on salary/pension of a client/guarantor
  • Bill of exchange and bill authorization signed by a client/guarantor
  • Pledge on vehicle (only in case of purchase of a new vehicle and depending on the amount and repayment of the loan)
  • Comprehensive cover insurance policy endorsed in favor of the Bank
  • First rank mortgage in favor of the Bank (for amounts over EUR 15,000)
  • For the clients from Group III for the amounts up to EUR 5,000, one guarantor is required, and for the amounts over EUR 5,000, two or more guarantors.
  • For the clients from Group IV (who do not receive their salaries through the Bank) if their employer is classified in Group I or II for the loan amounts of up to EUR 5,000, a guarantor is not required. In other cases (from Group IV) depending on the amount and repayment period, it is necessary to have 1 or more guarantors, and the interest rate is up to 18%.

* * The Bank reserves the right to accept an alternative security instrument if found acceptable and in line with the Bank's business policy.



 Required documentation

Representative example

Representative example

Loan amount

€ 10.000

Repayment term

60 months

Nominal interest rate


Monthly repayment


Administrative fee


Effective interest rate


Total debt


* The total debt includes the loan amount, total interest, loan processing fee, cost of bill of exchange of EUR 2 and cost of enquiry in the Montenegrin Credit Registar of EUR 3.50.  The example above did not include costs of comprehensive cover insurance, vehicle appraisal cost and mortgage cost ( only for amount above eur 15.000) .  

** The data on this loan may vary depending on the client's solvency. 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: