Credit for young retirees
Unfortunately, we have 10,009 pension beneficiaries under the age of 24 in Croatia. Between the ages of 25 and 35, there are 2,500 citizens in retirement and 8,700 beneficiaries of pensions between the ages of 35 and 45. The majority of military retirees, 36%, are in the 40-50 age range.
When arranging this line of credit, retirees must not be older than 60 years. The biggest advantage of this line of credit is certainly the maximum loan amount. Most often, retirement loans represent smaller amounts of non-purpose loans.
Customized insurance instruments
Most commercial banks contract additional collateral for larger loan amounts, such as mixed or life insurance policies and loan repayment insurance. However, most young retirees are in a disability pension and thus are not eligible for certain insurance companies.
In order to avoid the impossibility of securing pensioners and therefore the impossibility of granting loans, the Bank has adapted the security instruments.
Messiness and enforcement
A great advantage is also the ability to arrange repayment of the loan for a period of 10 years. A special feature of a credit line is that pensioners can close it with irregularities visible in the credit report and foreclosures and thus get rid of the difficult Croatian everyday life.
The maximum loan amount of $ 100,000.00 can be arranged for a repayment period of up to 10 years . The monthly annuity is $ 1,266.22 and is calculated at a nominal interest rate of 8, 99% . The effective interest rate is 10, 46% . The administrative processing fee is 3.0% of the loan principal.
In addition to the primary security instruments (Statement of Consent to Seizure of Receipts, Promissory Notes and Bills of Exchange), the loan is also subject to a cash deposit.
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