Loans in cooperation with the Guarantee Fund of AP Vojvodina

According to the agreement signed by and between the Guarantee Fund of AP Vojvodina and Banca Intesa, the Bank’s offer intended to finance registered agricultural farms has been extended by loans for the purchase of agricultural machinery and equipment, as well as loans to for financing the purchase of agricultural land.

Loans for the purchase of agricultural machinery and equipment shall be approved to individuals - registered agricultural farms, in the territory of AP Vojvodina, under the following terms and conditions:

  • Purpose of Financing:
    • - Purchase of harvesters,
    - Purchase of tractors,
    - Acquisition of other self-propelled farm machinery,
    - Purchase of agricultural machinery
    - Purchase of equipment
  • Loan amount: from EUR 5,000 to maximum EUR 100,000 in dinar equivalent at the middle exchange rate on the date of loan disbursement
  • Interest Rate: 7.5% fixed annually, the method of calculation – compound
  • Repayment period: 7 years
  • Repayment terms: equal semi-annual annuities
  • Fee for early loan repayment: No
  • Loan application fee: 1% one –off
  • Collateral:
    • - bills of exchange of the applicant,
    - Irrevocable, unconditional guarantee of Guarantee Fund of the AP of Vojvodina, Novi Sad, Hajduk Veljkova no. 11, payable on first demand in an amount equal to the amount of the approved loan, increased by the amount of contractual interest and potential penalties

Loans to finance the purchase the agricultural land are granted to individuals - owners of registered family agricultural farms, residing in the territory of the Autonomous Province of AP Vojvodina, and 80% of the approved loan is covered by the guarantee of the Guarantee Fund of AP of Vojvodina. Loans are approved under the following conditions:

Purpose of Financing:

Purchase of agricultural land

Loan amount: from EUR 5,000 to maximum EUR 100,000 in dinar equivalent at the middle exchange rate on the date of loan disbursement

  • Interest rate:
    • - Fixed 7.95% annually, the method of calculation – compound,
    - Variable 6.75% +6 m EURIBOR annually, the method of calculation – compound
  • Grace period: up to 12 months including the 6M period of availability from the date of signing of the loan agreement
  • Repayment period: Up to 96 months from the transfer to repayment (at the latest maturity of the last annuity of each placement is December 2021)
  • Usage: The transfer of the dinar equivalent of the approved loan amount onto the account of the Seller of agricultural land according to the middle exchange rate on the date of loan disbursement, based on the certified sales contract / preliminary contract
  • Repayment terms: equal semi-annual annuities
  • Fee for early loan repayment: No
  • Loan application fee: 1% one-off
  • Collateral:
    • - personal bill of exchange of the applicant,

First mortgage on agricultural land registered with the competent land registry or authority responsible for the registration of mortgages;

Mortgage registered simultaneously as common security, in favor of the Bank on 20% of the total receivables (principal debt plus regular interest and potential penalties) in favor of the Fund at 80% of total receivables (principal debt plus regular interest and potential penalties and the fee for the issuance of the guarantee)

Irrevocable, unconditional guarantee of the Fund payable on first demand on amount of 80% of total receivables (principal debt plus the regular interest and potential penalties) for the Bank