(+382 202) 19905

Cash Loan

Shortest way to the cash you need

We have prepared loans primarily for our clients receiving their salaries to the current accounts with Hipotekarna Bank, but they are also available to all other citizens of Montenegro who are not our clients, irrespective of their status.

These loans can be used for purchase of all types of goods and services, with the Bank selecting one of the security instruments listed below depending on the amount of loan and client’s profile. In addition to the standard security instruments, such as salary attachment or blank bill of exchange, cash loans may also be granted on the basis of your life insurance policy or a deposit.

Cash loans are granted for a maximum repayment period of 8 years (96 months), with the interest rates starting at as little as 9,00% p.a. In addition, one-off loan processing fee and other charges can be debited from the loan itself.

Loan eligibility requirements

A loan may be accessible without guarantors, with monthly installments (annuity) not exceeding 1/2 of average monthly net salary, pension or other loan beneficiary’s revenue. Where a loan is granted with a single guarantor, the monthly installment may not exceed 1/2 of average monthly net salary of loan beneficiary and 1/3 of average monthly net salary of the guarantor. Where a loan is granted with two or more guarantors, the monthly installment may not exceed 1/2 of average monthly net salary, pension or other loan beneficiary and guarantor’s revenues.

The sum of age of any party to a loan agreement (loan beneficiary, co-signer, guarantor) at the moment of conclusion of the loan agreement and the repayment term must not exceed 70 years. For example, if a loan beneficiary is 68, the payment term may be maximum 2 years.

If the loan applicant does not have a good credit rating, he can have one or maximum two co-signers. In that event, credit rating is established so that their monthly installment (annuity) does not exceed 1/2 of their cumulative average monthly net salaries (average for the past three months) or pension for the previous month, reduced by any withholdings. Where a loan is granted without guarantors, a monthly installment may not exceed 1/3 of their average monthly salary.
The loan can also be repaid before maturity, free of any early repayment fees.

Terms for Bank clients:

  • loan €3,000
  • term 48 months
  • interest rate 9,00 % p.a.
  • monthly installment (annuity) EUR 74.16
  • one-off fee 1.0 % EUR 30, bill of exchange EUR 3, RKR EUR 3 
  • (EKS) 9.96 % per annum
  • total loan amount with interest included EUR 3,559.68

Terms for all other loan beneficiaries:

  • loan €3,000
  • term 48 months
  • interest rate 1.20 % per month
  • monthly installment (annuity) EUR 82.58
  • one-off fee 2.0 % 60 EUR, bill of exchange EUR 2, RKR EUR 3
  • effective interest rate (EKS) 16.76 % per annum
  • total loan amount with interest included EUR 3,963.84

Documents required

  • loan Application Form filled out by loan beneficiary
  • statement on the amount of salary for loan beneficiary, co-signers and guarantors certified by the employer (signed and seal affixed by employer’s officer in charge)
  • decision on salary attachment for loan beneficiary (two copies), co-signers and guarantors certified by the employer
  • guarantors’ affidavits
  • copy of IDs for loan beneficiary, co-signer and guarantor (copies of passport in case of non-residents)
  • for purpose specific loans, also a pro-forma invoice issued by the legal entity that the loan beneficiary is purchasing the goods from

Loan security

For clients receiving regular monthly salary to an account with Hipotekarna Bank

I. For loans up to EUR 3,000, with repayment period of 48 months
  • decision on salary attachment for the loan beneficiary and co-signer
  • blank bills of exchange signed by loan beneficiary, co-signers, and guarantors

II. For loans from EUR 3,001 to 5,000, with repayment period of up to 60 months
  • decision on salary attachment for the loan beneficiary and co-signers
  • decision on salary attachment for one or more guarantors
  • blank bills of exchange signed by loan beneficiary, co-signers, and guarantors

III. For loans from EUR 5,001 to 10,000, with repayment period of up to 84 months
  • decision on salary attachment for the loan beneficiary and co-signers
  • decision on salary attachment for one or more guarantors, or registration of a mortgage on real estate, scope 1:2, with an insurance policy for the duration of the loan, endorsed in favor of the Bank
  • blank bill of exchange signed by loan beneficiary, co-signers, and guarantors

IV. For loans over EUR 10,000, with repayment period up to 96 months
  • decision on salary attachment for the loan beneficiary and co-signer
  • decision on salary attachment for three or more guarantors (for loans from EUR10,000 to 15,000), or a decision on salary attachment for one guarantor and registration of a mortgage over real estate, scope 1:2, with an insurance policy for the duration of the loan, endorsed in favor of the Bank. For loans over EUR 15,000, registration of a mortgage over real estate in the scope 1:2 is mandatory, along with real estate insurance policy for the duration of the loan, endorsed in favor of the Bank.
  • blank bills of exchange signed by loan beneficiary, co-signers, and guarantors

For clients not receiving regular monthly salary to an account with Hipotekarna Bank

I. For loans up to EUR 3,000, with repayment period of 48 months
  • decision on salary attachment for the loan beneficiary and co-signer
  • decision on salary attachment for one or more guarantors
  • blank bills of exchange signed by loan beneficiary, co-signers, and guarantors

II. For loans from EUR 3,001 to 5,000, with repayment period of up to 60 months
  • decision on salary attachment for the loan beneficiary and co-signers
  • decision on salary attachment for one or more guarantors
  • blank bills of exchange signed by loan beneficiary, co-signers, and guarantors

III. For loans from EUR 5,001 to 10,000, with repayment period of up to 84 months
  • decision on salary attachment for the loan beneficiary and co-signers
  • decision on salary attachment for three or more guarantors, or a decision on salary attachment for one guarantor and a registration of a mortgage on real estate, scope 1:2, along with an insurance policy for the duration of the loan, endorsed in favor of the Bank
  • blank bill of exchange signed by loan beneficiary, co-signers, and guarantors

IV. For loans over EUR 10,000, with repayment period up to 96 months
  • decision on salary attachment for the loan beneficiary and co-signer
  • decision on salary attachment for four or more guarantors, or a decision on salary attachment for two guarantors and a registration of a mortgage over real estate, scope 1:2, along with an insurance policy for the duration of the loan, endorsed in favor of the Bank. For loans over EUR 15,000, registration of a mortgage over real estate in the scope 1:2 is mandatory, along with real estate insurance policy for the duration of the loan, endorsed in favor of the Bank.
  • blank bills of exchange signed by loan beneficiary, co-signers, and guarantors

Depending on the risk assessment conducted by our staff, the Bank may request from loan beneficiary to present additional instruments of cash loan security.

Loans secured by a life insurance policy

Cash loans may also be granted on the basis of life insurance policy concluded with any insurance company operating in Montenegro. In that case, the following security interests must be presented:
  • decision on salary attachment for the loan beneficiary and co-signer
  • blank bills of exchange signed by loan beneficiary and co-signers
  • insurance policy endorsed in favor of the Bank

Loans secured by a term deposit

Cash loans may also be granted on the basis of a specific purpose term deposit with Hipotekarna Bank. For such loans the following security instruments must be provided:
  • blank bills of exchange signed by the loan beneficiary and co-signer
  • 100% cash deposit with accrued interest if the loan interest is paid on a monthly basis or in advance, or a deposit in the amount bigger than the loan, including the interest for the entire loan term
The cash deposit term must be 30 days later than the loan expiry date.


These cash loans are granted under the following terms:


Interest rate

  • passive interest rate for term deposits in EUR + 2.50 %, or
  • passive interest rate for term deposits in other currencies + 4.50 %

Loan processing fee
  • 1.00 % for Bank clients
  • 2.00 % for persons who are not Bank clients and for unemployed persons


Where a loan beneficiary is at the same time an owner of a term deposit serving as loan security, the Bank may approve these loans at a loan processing fee which is identical to that for clients receiving their monthly salaries to an account with Hipotekarna Bank.

For any questions or additional information on the procedure and terms for granting cash loans, please call us at 19905 or visit us at one of our 18 branch offices across Montenegro.
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