Five Commercial Banks Applied for 1000+ Project

By , 15 May 2018, 07:42 AM Business
Five Commercial Banks Applied for 1000+ Project Copyrights: Ministry of Sustainable Development and Tourism

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May 14, 2018 - The project named “1000+”, under the guidance of the Montenegrin Ministry of Sustainable Development and Tourism, has successfully reached its third phase. This phase was planned for the Montenegrin banks to take part in this project as its principal leaders. The public call for the banks was announced on the 27th of April and ended on the 10th of May. This period was crucial for defining the exact fixed conditions of crediting which are: a fixed interest rate of up to 2.99%, a repayment period of up to 20 years without obligatory participation, and processing of the loan not to be higher than 0.3%. Five Montenegrin commercial banks met these requirements, and those are NLB Montenegro Bank, Societe General Montenegro, Montenegrin Commercial Bank, Lovcen Bank and Erste Bank.

The project 1000+ aims to provide a place to live for thousand and more households or families, and it is meant for all citizens of Montenegro who do not own a home yet. This project has conditions that have to be met in order to be entitled to get a home. Also, the very project takes long-term credits as payment options and is aimed at the following target groups:

40% of the homes will go to the users that have a family member in public sector,

30% of the homes will go to the users that are married and have up to 35 years each,

30% of the homes will go to the users that do not meet any of conditions above.

Following these target groups and following the Law on Social Housing, families that include a single parent, caregivers, persons with disabilities, family households with disabilities, family households with children with disabilities, young people who were children without parental care and victims of domestic violence, have priority in this project, if all the other conditions are already met.

The next step of this project is to make a public call for citizens that are both willing to participate in funding and to apply for getting the home for their families. This step will happen in June, while a month later all the data concerning offers received from commercial banks, constructions companies, physical and legal entities will be available on the site: http://1000plus.me

The “1000+” project represents a great chance for all citizens of Montenegro who can meet defined criteria and provide themselves and their family with an apartment in the most favorable conditions on the market.

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