Fixed interest rate of 2.99% within the ‘1000 plus’ project will enable low-income citizens without home to solve their housing issues.
The interest rate that they will have to pay will be significantly lower than the one citizens pay if they take a loan under market requirements. The interest rate in the previous project amounted to 3.99% and it is still lower than market rate of interest.
Compared to the previous phase of the project and a 3.99% interest rate, depending on the loan amount, this year citizens will have their monthly installment decreased by EUR 20-50 and will pay from 5,000 to 25,000 less of their rate.
To see monthly payment calculations, continue reading below:
For a single-premise apartment costing €35,000, citizens will have to pay €230 a month (20-year repayment term). For the same apartment costing €30,000 (2.99% interest rate), they will have to pay €160 a month, while for the price of €35,000, the monthly payment amounts to €193.
For a one-room apartment (depending on its size and location), citizens will need from €40,000-50,000, i.e. €220-280 a month. One-room apartments worth €40,000 will require a €221,6 monthly payment, for those costing €45,000, people will need €249 a month, while for €50,000 worth flats monthly payment will amount to €277.
If you wish to purchase a two-room apartment, you will need €60,000-70,000 or €332,3-380 a month.
For a €80,000 loan the monthly installment amounts to €443,3, whereas for a €100,000 loan you’ll be needing €554 a month.
So far, nearly 950 Montenegrin households got indebted with loans via the ‘1000 plus’ project.
