Erste Bank reduces interest rates on personal, refinancing and home loans, expands loan limits

Erste Bank has further reduced interest rates on new personal loans and refinancing loans, as well as on home loans, for applications submitted until the end of January next year.

The maximum loan amount is 30,000 EUR, with repayment terms of up to 10 years.

“Loan customers will not pay any processing fees, and the interest rate is fixed at 5.49% nominal annually (effectively 5.77% for personal and refinancing loans, and effectively 5.8% for home loans),” the bank said in a statement.

Compared to the regular offer, the interest rate has been reduced by an average of around two percentage points, depending on the type of loan and the client’s creditworthiness.

Loans are approved without a mortgage, secured instead by a promissory note and administrative ban. Relja Đurović, Director of the Retail Banking Sector, stated that the bank is concluding the year, marking its 15th anniversary in Montenegro, with a significant reduction in interest rates for new personal loans, refinancing loans, and home loans.

“In addition, the maximum loan amount has been increased to 30,000 EUR, up from the previous 25,000 EUR. This allows citizens to have greater access to cash during the holiday period, when their need for additional funds is higher,” said Đurović.

According to the bank’s representatives, Erste Bank had previously lowered interest rates on various types of loans for employees, pensioners, and young couples, supporting this year’s initiative of the Central Bank of Montenegro (CBCG) in line with its business policy and market positioning.

Since the beginning of the year, Erste Bank has provided credit support to citizens totaling around 100 million EUR.

In total, around 11,000 loans have been approved, with the most popular being personal loans without collateral and home loans.

“The value of approved personal loans without collateral is 55% higher compared to the same period last year, while home loan placements have increased by 50%. These results reflect the growing demand for credit products offered by Erste Bank, which we adjust to market conditions and customer needs, making them more accessible,” said Đurović.

He added that the bank aims to strengthen its position and become the first and preferred choice for citizens seeking the best financial advice and high-quality products that will help them achieve their personal and family financial goals in every stage of life.

Clients who apply for personal loans, refinancing loans, or home loans by the end of January next year can also activate electronic and mobile banking services (Erste NetBanking and mBanking) with the first six months free of monthly fees.