enczsk

Financing

Some Croatian banks are prepared to grant a loan to citizens of EU member countries and non-EU countries provided that standard requirements regarding the client's credibility and security are met. The purchased property is used as security. Interest rates are around 5% p.a..

Mortgage loan for foreign citizens (ERSTE Bank)

Intention: real estate purchase in Croatia
Mortgage amount: between 15.000 - 250.000 Euro but not more than 60% from property purchase price
Repayment term: 3 - 20 years
Administrative fees: 1.200 Kun
Other requests: opening bank account in a Croatian bank in domestic currency (Kuna) and currency for the transaction (Euro)

Example calculation (mortgage of 100.000 Euro, repayment term 20 years)

INTEREST RATE
(ANNUAL)
ACTUAL INTEREST RATE (effective) MONTHLY ANNUITY
(EURO)
TOTAL AMOUNT PAYABLE BY A CLIENT (EURO)

4,915%
= 12M EURIBOR*
+5,10 p.p.**

5,05% 655,27 157.264,66

* 12 month (12M) EURIBOR rate on 1.11.2017 was -0,185%. The value of 12M EURIBOR is consistent with the Mortgage agreement, yearly updated upon published rate on Reuters agency page two working days before every interest period.
** p.p.- percentage point.
Actual interest rate, annuity amount and total amount payable by a client have been calculated according to the followed conditions: mortgage amount 100.000 Euro, repayment term 240 months (20 years) and administrative fees 1.200 Kun.

Erste bank leaflet of obtaining a loan for foreigners "to download here".

Requested documentation

  • passport copy
  • certification of Crotian tax number OIB
  • filled-in mortgage application form
  • signed declaration of providing and processing personal data
  • proof of income (salary cheque + employer income confirmation for the three months backward or tax return)
  • property extract from land register (not older than 30 days)
  • property valuation
  • purchase contract verified by public notary


The bank considers each mortgage request individually and reserves the right to ask for additional documents. Listed conditions above are valid from November 2017 and the bank reserves the right to change them.

Erste&Steiermärkische Bank d.d. OIB: HR23057039320

 


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