Loan for renovation and reconstruction / Refinance of loan for renovation and reconstruction

Key feature  
  • From EUR 1,000 to EUR 150,000
  • Repayment period from 12 to 120 months
  • Nominal interest rate: fixed of 5.55%
  • Effective interest rate from 5,69%
  • Bank fee  up to 1.50% of the loan amount
  • Fast and simple way to get a loan



Security instruments
  • Administrative withholding order on salary/pension of a client/guarantor
  • Bill of exchange and bill authorization signed by a client/guarantor
  • Bill of exchange and bill authorization of a legal entity if a guarantor
  • First rank mortgage in favor of the Bank (for amounts over EUR 15.000)
  • Property insurance policy 
  • 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.
  • Client may use up to 60% of the loan amount as cash.

* * 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

€ 50.000

Repayment period

180 months

Nominal interest rate


Monthly installment


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 does not include property insurance policy costs and real estate appraisal cost.

** 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: