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Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
Version: 9.0 Document code:
Date: Document classification 2
STOPANSKA BANKA a.d. Bitola
(confidential) MB. Meeting
_._.2017 Agenda point No
DECISION on Interest Rate Policy of
Stopanska banka a.d. Bitola (consolidated text)
Bitola, September, 2017
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
Note: This document is intended solely for internal use of STOPANSKA BANKA a.d. BITOLA. Information in this document is subject to change without any obligation of their publication. For the latest version of this document, please see the general information of the document or the information of the document holder stated below. Not any part of this document may be modified, used for other purposes or transferred without prior consent of STOPANSKA BANKA a.d. BITOLA. This document is drafted for the use of the employees, related contracting parties, competent institutions and other persons with special approval by responsible persons of STOPANSKA BANKA a.d. BITOLA. This document is copyright protected in compliance with applicable law.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
Document information
Document code
Document name
Decision on Interest Rate Policy of Stopanska
banka a.d. Bitola
Author Natasha Trajkova
Document owner
Liquidity Management and ALM Department
Responsible person - contact
Natasha Trajkova natasha.t@stbbt.com.mk +389(0) 72 265-948
Short description of the document
The Decision on Interest Rate Policy of Stopanska banka a.d. Bitola is aimed at determining interest rates and margins for all type of assets and loans, buying and selling securities and other receivables and payables of the Bank.
Version 9.0
Version status Consolidated document
Date of approved version
Approving body Management Board
Decision No
Approval level Management Board
Document scope For all employees
Disclosure of the document For internal use only
Publishing By e-mail and on FS
Validity period In case of need for modification
Document history (version, approval date, modification, description)
Version Version date Author of the document
Brief description of the document, modification made, reason
Version 1.0 Original version Initial document version
Version 7.1 Natasha Trajkova Amendment to the Decision on Interest Rate Policy pursuant to the MB Decision
Version 8.0 Natasha Trajkova Amendment to the Decision on Interest Rate Policy pursuant to the NBRM Recommendation
Version 9.0 Natasha Trajkova Amendment to the Decision on Interest Rate Policy pursuant to the NBRM Recommendation and addition of new decisions
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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Approved by
Approving body
Function Date Signature
Vladimir Eftimoski MA
Chairman of the Management Board
Gordana Baltovska MA
Member of the Management Board
Natasha Nestorovska PhD
Member of the Management Board
Distribution list
1. Document control
Name Function Date Signature
Support and Finance Division
Sofka Angelevska
Director of the Support and Finance Division
Risk Management Division
Natasha Ilievska
Director of the Risk Management Division
Regulatory Compliance Department
Sonja Atanasovska
Responsible person in the Regulatory Compliance Department
Corporate Management Division
Natalija Mickovska
Director of the Corporate Management Division
Retail Management Division
Vesna Daceva
Director of the Retail Management Division
Processing Division
Jasmina Dinevska
Director of the Processing Division
Division of Legal Affairs and MB Office Management
Ljupcho Miloshevski
Director of the Division of Legal Affairs and MB Office Management
Property and Security Management Division
Vladimir Altiparmakov
Director of the Property and Security Management Division
MB Counselor Zlatko Bezhovski
MB Counselor
Human Resource Division
Sonja Janevska
Director of the Human Resource Division
Marketing Division
Natasha Savova Salkovska
Director of the Marketing Division
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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ISS person Vlatko Cvetanoski
ISS person
Organization and IT Division
Zhivko Atanasov
Director of Organization and IT Division
AML/CFT Department
Andrej Ackovski
Manager of AML/CFT Department
2. Submitted by e-mail to:
Name Function
Support and Finance Division
Sofka Angelevska
Director of the Support and Finance Division
Strategic Risk Department
Natasha Ilievska
Director of the Risk Management Division
Regulatory Compliance Department
Sonja Atanasovska
Responsible person of the Regulatory Compliance Department
Corporate Management Division
Natalija Mickovska
Director of the Corporate Management Division
Retail Management Division
Vesna Daceva
Director of the Retail Management Division
Processing Division
Jasmina Dinevska
Director of the Processing Division
Division of Legal Affairs and MB Office Management
Ljupcho Miloshevski
Director of the Division of Legal Affairs and MB Office Management
Property and Security Division
Vladimir Altiparmakov
Director of the Property and Security Division
MB Counselor Zlatko Bezhovski
MB Counselor
Human Resource Division
Sonja Janevska
Director of the Human Resource Division
Marketing Division
Natasha Savova Salkovska
Director of the Marketing Division
ISS person Vlatko Stefanoski
ISS person
Organization and IT Division
Zhivko Atanasov
Director of the Organization and IT Division
AML/CFT Department
Andrej Ackovski Manager of the AML/CFT Department
3. Submitted in Name Function Date Signature
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
paper form to:
MB Office Management Department
Teodora Blazheska
Personal Assistant Professional Associate in the MB Office Management Department
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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TABLE OF CONTENTS
1. Objective ………………………………………………………………………………8
2. Definitions ……………………………………………………………………………8
3. Document Description …………………………………………………………9
4. Information Method and Contents ……………………………………10
5. Final Provisions ………………………………………………………………….33
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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On the basis of Article 86 of the Statute of Stopanska banka a.d. Bitola, NO 02-12149/1/I-2 of 13.06.2017 (Consolidated text), the Management Board of Stopanska banka a.d. Bitola in its ___ regular session held on __.__.2017, adopted the following:
DECISION on the Interest Rate Policy of Stopanska banka a.d. Bitola
1. Objective This Decision governs the interest rates and margins of all types of assets and loans, buying and selling securities and other receivables and payables of the Bank. By way of derogation of the above shall be interest rates of assets and loans determined by laws and other regulations and interest rates of assets and loans thereof that are acquired and placed based on special agreements.
2. Definitions Interest rates in this Decision shall be divided in interest rates to legal and natural persons. The category of legal persons covered by this Decision shall fall all dealers and persons of public law in accordance with legislation. The category of natural persons covered by this Decision shall be deemed those natural persons and other customers that are not dealers and persons of public law in accordance with legislation. Interest rates might be active and passive interest rates. Active interest rates refer to those rates charged by the Bank for loans and other receivables. Active interest rates may not be higher than the legally allowed maximum for a relevant currency or relevant debtor. Passive interest rates refer to those rates paid on funds deposited and loans obtained by the Bank and when another’s sources of assets that the Banks uses in general. Interest rates may be fixed, floating and adjustable interest rates: Fixed interest rates remain to the expiry of the loan or deposit period and are not changed to the termination of the agreement. Adjustable interest rates change in line with the changes of the Decision on Interest Rate Policy of the Bank.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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Floating interest rate is directly conditional to the relevant interest rate increased for relevant percentage points in accordance with the Bank acts. “The Bank shall create the floating interest rate based on the reference interest rate for calculation of the default interest rate +/- margin for MKD products and 1 month EURIBOR rate and six month USD LIBOR rate displayed on the last day of the previous month +/- margin”. “Reference interest rate for calculation of the default interest rate for a relevant half-year shall be the interest rate to the basic instrument in an open market operations – treasury bills of the National Bank, achieved at the latest auction in the previous half-year. Floating interest rates shall be revised in accordance with the half-year change of the reference interest rate for calculation of the default interest rate published by NBRM twice in the year, at the end of each half-year (30.6 and 31.12).” According to the manner of occurrence, interest may be contractual or statutory interest rates. Contractual interest rates shall be agreed by the parties, and they may be within the frame as determined by legislation. Statutory interest rates shall apply where the debtor owes interest if the agreement does not define its percentage. Default interest shall be the interest determined by legislation, and it shall be paid due to delay in fulfilling the liabilities. Intercalary interest shall be the interest that is calculated of the date of borrowing the loan to commencement of repayment and is the same as the contractual interest rate. Interest margin shall be the difference between active and passive interest rates. EURIBOR shall be daily reference interest rate under which banks borrow and lend money in the interbank market. LIBOR shall be daily reference interest rate under which banks borrow and lend money in London Interbank Market.
3. Description The Bank shall create and form interest rates subordinate to the market conditions and inflation rate, monetary policy measures, interest rates of treasury bills and government bills, reference rate, balanced opportunities and movement of LIBOR and EURIBOR for the relevant currency. The Bank shall create policy of differentiated active interest rates by the purpose and level of collection of its receivables, or borrowers’ creditworthiness and collateral type.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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Interest rates may be also determined separately for each case and amounts determined in the agreement with the customer i.e. borrower. The Bank shall negotiate, calculate and collect interest under the provisions hereof and the Law on Obligations. The Collateral Catalogue – Review of Collateral Categories shall be integral part hereof.
4. Information Method and Contents The Decision on Interest Rate Policy of Stopanska banka a.d. Bitola has been published on its website https://www.stbbt.mk/ , where the clients may be informed on the percentage of active and passive interest rates of the Bank. Unless otherwise indicated in the agreement with the client, the Bank shall reserve the right to change the calculation method and period, payment and percentage of the interest rates depending on the relevant amendments to applicable legislation and the Bank’s business policy acts. The Collateral Catalogue – Review of Collateral Categories shall be integral part hereof.
5. Final Provisions The Decision on Interest Rate Policy of Stopanska banka a.d. Bitola MB No 02-11792/1/II-18 as of 08.06.2017, and each of the amendments made to the date of taking effect of the consolidated text, shall cease to apply as of the date of application of this Decision. This Decision shall enter into force as on the date of its adoption.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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On the basis of Article 86 of the Statute of Stopanska banka a.d. Bitola NO 02-12149/1/I-2 of 13.06.2017 (Consolidated text), the Management Board of Stopanska banka a.d. Bitola in its ___ regular session held on __.__.2017, adopted the following:
DECISION on the Interest Rate Policy of Stopanska banka a.d. Bitola
I. INTEREST RATES A. ACTIVE INTEREST RATES A.1. ACTIVE INTEREST RATES FOR LEGAL PERSONS 21. On loans lent from the Bank assets, the Bank shall calculate and collect interest under the following rates (in percentage, or increased or decreased by a particular number of percentage points)
APPROVAL CRITERIA MKD loans Foreign currency and MKD loans with FX clause
1 2 3 4
21.1 - to legal entities, classified in >A< Risk Category, and which for long year have been customers of the Bank and which in their regular business with the Bank have achieved high rating of creditworthiness, solvency and loyalty, and which are of special interest for the Bank with their participation in credit guarantee operations with the Bank, domestic and international payment operations and with the other bank transactions as well as new customers with sustainable projects
Interest rate agreed
Interest rate agreed
21.2 - to legal entities classified in >A< Risk Category, secured by real estate and movable property and group 5 (5.4, 5.5., 5.6) of the Collateral Catalogue by applying adjustable interest rate, which earn total annual income
a) up to MKD 30,000,000.00 8.00% 7.75%
b) from MKD 30,000,001.00 – MKD 100,000,000.00 7.50% 7.25%
c) from MKD 100,000,001.00 – MKD 450,000,000.00
7.25% 7.00%
d) exceeding MKD 450,000,001.00 agreed Agreed
21.2.1 - to legal entities classified in >A< Risk Category, secured by real estate and movable property and group 5 (5.4, 5.5., 5.6) of the Collateral Catalogue by applying floating interest rate, which earn total annual income
a) up to MKD 30,000,000.00 Reference interest rate
for calculation of default
interest rate +
1 month Euribor +
7.971 p.p. + not lower
Six month USD LIBOR plus 2.6 p.p., but not
lower than 4%
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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4.25 p.p., but not lower than
8.00%
than 7.75% for investments six month USD LIBOR plus 2.1
p.p. but not lower than 3.5%
for pca
b) from MKD 30,000,001.00 – MKD 100,000,000.00 Reference interest rate
for calculation of default
interest rate + 3.75 p.p., but
not lower than 7.50%
1 month Euribor +
7.471 p.p. but not lower
than 7.25%
Six month USD LIBOR plus 2.6 p.p., but not
lower than 4% for investments six month USD LIBOR plus 2.1
p.p. but not lower than 3.5%
for pca
c) from MKD 100,000,001.00 – MKD 450,000,000.00
Reference interest rate
for calculation of default
interest rate + 3.5 p.p., but
not lower than 7.25%
1 month Euribor +
7.221 p.p. but not lower
than 7.00%
Six month USD LIBOR plus 2.6 p.p., but not
lower than 4% for investments six month USD LIBOR plus 2.1
p.p. but not lower than 3.5%
for pca
d) from MKD 450,000,001.00 Agreed Agreed
21.3 - to legal entities classified in >B< Risk Category, secured by real estate and movable property and group 5 (5.4, 5.5., 5.6) of the Collateral Catalogue by applying adjustable interest rate, which earn total annual income
a) up to MKD 30,000,000.00 9.00% 8.75%
b) from MKD 30,000,001.00 – MKD 100,000,000.00 8.50% 8.25%
c) from MKD 100,000,001.00 – MKD 450,000,000.00
8.00% 7.75%
e) exceeding MKD 450,000,001.00 agreed Agreed
21.3.1 - to legal entities classified in >B< Risk Category, secured by real estate and movable property and group 5 (5.4, 5.5., 5.6) of the Collateral Catalogue by applying floating interest rate, which earn total annual income
a) up to MKD 30,000,000.00 Reference interest rate
for calculation of default
interest rate + 5.25 p.p., but
not lower than 9.00%
1 month Euribor +
8.971 p.p. but not lower
than 8.75%
Six month USD LIBOR plus 2.6 p.p., minimum
4%
b) from MKD 30,000,001.00 – MKD 100,000,000.00 Reference interest rate
for calculation of default
1 month Euribor +
8.471 p.p. but
Six month
USD LIBOR plus 2.6 p.p.,
minimum 4%
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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interest rate + 4.75 p.p., but
not lower than 8.50%
not lower than 8.25%
c) from MKD 100,000,001.00 – MKD 450,000,000.00
Reference interest rate
for calculation of default
interest rate + 4.25 p.p., but
not lower than 8.00%
1 month Euribor +
7.971 p.p. but not lower
than 7.75%
Six month USD LIBOR plus 2.6 p.p., minimum
4%
d) from MKD 450,000,001.00 Agreed Agreed
21.4 Change of interest rates in case of change of Risk Category for loans with adjustable and floating interest rate a) from “A” to “B” b) from “B” to “C” c) from “A” to “C” d) from “C” to “A” e) from “C” to “B” f) from “B” to “A”
a) Applicable interest rate increases by 1 percentage point, but not more than the contractual default interest rate b) Applicable interest rate increases by 1 percentage point, but not more than the contractual default interest rate c) Applicable interest rate increases to the maximum contractual default interest rate d) Applicable interest rate decreases by 2 percentage points, but not lower than initially approved interest rate e) Applicable interest rate decreases by 1 percentage point, but not lower than initially approved interest rate f) Applicable interest rate decreases by 1 percentage point, but not lower than initially approved interest rate
21.4.1 Change of interest rates for legal entities with more than 60 day delay (61-90)
Applicable interest rate increases by 1.5 percentage points, but not more than the contractual default interest rate in compliance with Law on Obligations
21.5 to legal entities classified in >A and B< Risk Category, whose loan is secured by rights and receivables and other collateral instruments (notarized draft or aval and etc.) and Group 5 (5.1, 5.2, 5.3) of the Collateral Catalogue and application of adjustable interest rate
11.00%
21.5.1 to legal entities classified in >A and B< Risk Category, whose loan is secured by rights and receivables and other collateral instruments (notarized draft or aval and etc.) and Group 5 (5.1, 5.2, 5.3) of the Collateral Catalogue and application of floating interest rate
Reference interest rate for calculation of
default interest rate + 7.25% p.p., but not
lower than 11.00% or
Six month USD LIBOR plus 2.6 percentage points, minimum 4%
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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11.221 + 1 month Euribor, but not lower
than 11.00%
21.6 Car loan by applying adjustable interest rate 8% down payment, from 25-40% of the amount
7% down payment, over 40% of the amount
21.6.1 Car loan by applying floating interest rate Reference interest rate for calculation of
default interest rate + 4.25% p.p., but not lower than 8.00%
8.221 p.p. + 1 month Euribor but not lower
than 8.00%
Six month USD LIBOR plus 2.6 percentage points, minimum 4%
Reference interest rate for calculation of
default interest rate + 3.25% p.p., but not lower than 7.00%
1 month Euribor + 7.221 p.p. + but not lower than 7.00%
Six month USD LIBOR plus 2.6 percentage
points, but not lower than 4%
21.7 Investment loans by applying adjustable interest rate
Investment loans by applying floating interest rate Reference interest rate for calculation of
default interest rate + 2.75% p.p., but not lower than 6.50%
1 month Euribor + 6.721 p.p. + but not lower than 6.50%
Six month USD LIBOR plus 2.6 percentage
points, but not lower than 4%
* The amount of interest rate for investment loans shall depend on the project and shall be defined after submission of the investment program
21.8 Combined collateral – shall mean collateral composed of two or more types of collateral, where the effective value of the basic collateral (real estate and movable property and Group 5 (5.4, 5.5, 5.6) of the Collateral Catalogue shall cover minimum 70% of the loan amount.
1 percentage point higher than the interest
rates indicated in points 21.2, 21.2.1, 23.3 and 21.3.1
21.9 - to legal entities whose loans are secured by MKD or foreign currency deposit of natural and legal persons
From 1-3 percentage points over the interest rate paid by the Bank on the deposits under the
following criteria:
Criteria for determining the percentage points over the interest rate on the deposits:
1. 3.0 percentage points over the interest rate paid by the Bank on the deposits for customers that satisfy the following requirements:
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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a. Amount of the cash deposit is to be 103% against the loan
2. 2.0 percentage points over the interest rate paid by the Bank on the deposits for customers that satisfy the following requirements:
a. Amount of the cash deposit is to be 103% against the loan b. The customer to make minimum 70% of its domestic and international payment operations through the Bank
3. 1.5 percentage points over the interest rate paid by the Bank on the deposits for customers that satisfy the
following requirements: a. Amount of the cash deposit is to be 103% against the loan b. The customer to make minimum 70% of its domestic and international payment operations through the Bank c. 70% of its employees to receive salary through the Bank
4. 1.0 percentage points over the interest rate paid by the Bank on the deposits for customers with related
persons whose deposits in the Bank on any grounds amount over MKD 10 million
21.10 - to banks and savings banks As agreed or conditional to the supply and demand in the deposit market
21.11 - interest rate for restructured loans is determined by agreement pursuant to the Bank acts
By agreement
21.12 Payment cards – overdraft loan limit with adjustable interest rate
- MasterCard Business 11.25% - Visa Business
21.12.1 Payment cards – overdraft loan limit with floating interest rate
- MasterCard Business Reference interest rate for calculation of the default interest rate, + 7.5 p.p., but not lower
than 11.25% - Visa Business
21.13 Overdraft loan (allowed overdraft for legal entities) up to 36 months with adjustable interest rate
9.00% annually
21.13.1 Overdraft loan (allowed overdraft for legal entities) up to 36 months with floating interest rate
Reference interest rate for calculation of the default interest rate, + 5.25 p.p., but not lower
than 9.00% annually
21.14 Loan for net exporters, intended for export oriented legal entities
1 percentage point lower than the interest rates indicated in points 21.2, 21.2.1, 21.3 and 21.3.1
21.15 On loans from NBRM primary asset issue (conversion) shall calculate and charge interest rate
under the legislation
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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21.16 On loans from revolving funds acquired from World Bank, the Bank shall calculate and charge interest under interest rate of
Passive interest increased by at least 2.5 percentage points
21.17 On refinanced loans the Bank shall calculate and charge interest rate of
Passive interest increased by at least 2.5 percentage points
21.18 On loans from funds provided by the Development and Investment Agency and Macedonian Bank for Development Promotion and other sources of assets
Passive interest increased by at least 2.5 percentage points
21.19 On receivables based on paid drafts, avalised bill of exchange and checks, letters of credit, guarantees and other security in the country and abroad provided by the Bank on account of legal entities as well as receivables based on temporary debts of legal and other persons on temporary, transaction and other accounts under payments made by the Bank on their account without advance coverage, the Bank shall calculate and charge interest under
Statutory default interest
21.20 On placements of government securities (treasury bills and government bills) the Bank shall charge interest rate depending
On the supply and demand at auctions
21.21 On liquidity loans, the Bank shall charge the following interest rate:
- In deposit market Depending on the supply and demand
- In other banks As agreed
21.22 The expenses incurred in credit operations of the Bank due to assets immobilized by monetary policy measures and other measures, they shall be transferred to end beneficiaries of the relevant loan assets
21.23 The provisions of the previous paragraph shall also apply to loan оf primary issue assets – conversion
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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A.2. ACTIVE INTEREST RATES FOR NATURAL PERSONS1
29. On consumer loans – short- and long- term approved to citizens, the Bank shall charge interest rate of:
1. NON-PURPOSE CONSUMER LOANS INTREST RATES
MKD in MKD counter value of EUR
1.1. Non-purpose consumer loan – the percentage of interest rate shall depend on the number of additional products used: allowed overdraft, credit card and/or E-Banking by applying adjustable interest rate
Borrower – without additional and with 1 additional product of the Bank 11.25% 7.627%
Borrower + 2 additional products of the Bank 11.10% 7.615%
1.2. Loan intended for the Bank employees 9.90% /
1.3. Pensioner loan 10.90% /
1.4. Loan intended for employees in AD ELEM-REK Bitola / 7.627%
1.5. Instant MKD loan for employees in AD ELEM-REK Bitola 9.50% /
1.6. Commissioning (starter) loan / /
1.6.1. Commissioning (starter) loan through self-employment project 1.00% /
- In case of delay, increased contractual interest rate shall be charged amounting to
5% over the regular
1.7. Non-purpose consumer MKD loan with fixed interest rate in the first year
Fixed interest rate in the first year 7.50% /
Adjustable interest rate after the first year 10.90% /
1.8. Summer vacation loan – Short-term non-purpose consumer MKD loan
7.50% /
1.9. MKD loan with fixed interest rate in the first 3 years
Fixed interest rate in the first year 6.00% /
Fixed interest rate in the second and third year 8.50% /
Adjustable interest rate in the remaining period 8.50% /
1.11. Student loan 0% /
1.12. Non-purpose consumer loan – interest rate percentage depends on the number of used additional products: allowed overdraft, credit card and/or E-banking by applying floating interest rate
Borrower – without additional and with 1 additional product of the Bank Interest rate on treasury bills + 8.00 p.p.
1m Euribor + 8.00 p.p.
Borrowers + 2 additional products of the Bank Interest rate on treasury bills + 7.85 p.p.
1m Euribor + 7.988 p.p.
Borrowers + 3 additional products of the Bank Reference 1m Euribor
1 On all loans where floating interest rate is not indicated, adjustable interest rate shall apply
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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interest rate for calculation of the default interest rate + 7.75 p.p.
+ 7.973 p.p.
1.13. Pensioner loan Reference interest rate for calculation of the default interest rate + 7.65 p.p.
/
2. PURPOSE CONSUMER LOAN
2.1. Purpose consumer loan Interest rate percentage depends on the number of used additional products: allowed overdraft, credit card and/or E-banking by applying adjustable interest rate
Borrowers without additional and with 1 additional product of the Bank 11.25% 7.627%
Borrowers + 2 additional products of the Bank 11.10% 7.615%
Borrowers + 3 additional products of the Bank 11.00% 7.60%
2.2. Mediplus loan – Baby Birth Package and Package for other Medical Services
VIP Package - Fixed interest rate in the first year - Adjustable interest rate for the remaining period
8.50% 10.90%
/ /
Regular Package 11.00% /
2.3. Refinancing loan 11.25% 7.627%
2.4. Loan intended for the employees in AD ELEM-REK Bitola / 7.627%
2.5. Loan for refinancing liabilities in other banks for employees in NBRM, CR, CHD, PRO, Macedonian Stock Exchange, Alkaloid AD Skopje, financial institutions, judiciary
Fixed interest rate in the first year 9.77% 6.99%
Adjustable interest rate after the first year 10.77% 7.627%
2.6. MEDIPLUS AESTHETIC – Long-term purpose loan for aesthetic, plastic and corrective surgery in a clinical hospital “Acibadem Sistina”
Adjustable interest rate 10.50%
DEPOSIT SECURED LOANS
130% deposit against the loan amount 1.00% over the interest rate paid by the Bank on the deposit
115% deposit against the loan amount 1.50% over the interest rate paid by the Bank on the deposit
110% deposit against the loan amount 2.00% over the interest rate paid by the Bank on the deposit
103% deposit against the loan amount 3.00% over the interest rate paid by the Bank on the deposit
DEPOSIT SECURED LOAN FOR EMPLOYEES IN COMPANIES AND THEIR RELATED ENTITIES THAT HAVE DEPOSIT IN
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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THE BANK MORE THAN MKD 60,000,000.00
115% deposit against the loan amount 1.00% over the interest rate paid by the Bank on the deposit
103% deposit against the loan amount 1.50% over the interest rate paid by the Bank on the deposit
110% deposit against the loan amount 1.75% over the interest rate paid by the Bank on the deposit
103% deposit against the loan amount 2.00% over the interest rate paid by the Bank on the deposit
LOAN INTENDED FOR EMPLOYEES IN COMPANIES AND THEIR RELATED ENTITIES THAT HAVE DEPOSIT IN THE BANK MORE THAN MKD 60,000,000.00 WITH COMBINED COLLATERAL (DEPOSIT AND MORTGAGE ON REAL ESTATE)
Minimum 75% deposit against the loan 2.00% over the interest rate paid by the Bank on the deposit
30. On loans approved to citizens with a credit card, determined by special Decision on the Requirements for Approval of Frame Revolving Credit Limit on Citizens’ Credit Cards, the Bank shall charge adjustable interest rate depending on the type of collateral as follows:
VISA CLASSIC/VISA GOLD
Secured by a bank draft and bill of exchange signed by the loan applicant and administrative salary limit as well as secured by a bank draft and bill of exchange signed by the loan applicant, one solvent guarantor, administrative salary limit to the applicant and guarantor
11.25% /
Secured by a bank draft and bill of exchange signed by the loan applicant and two solvent guarantors and administrative salary limit to the applicant and guarantors
11.00% /
Secured by at least 100% purpose interest-free MKD/foreign currency term deposit
3% over the deposit interest rate
/
MASTER CARD STANDARD
Fixed interest rate in the first year 5.99% /
Adjustable interest rate after the first year 9.99% /
31. MORTGAGE SECURED LOANS
1. Housing loan with fixed interest rate in the first 3 years
Fixed interest rate in the first three years (annually) in case of regular repayment, i.e. not later than 30 days of the loan maturity date
/ 3.90%
Fixed interest rate in the second and first three years (annually) in case of regular repayment, i.e. not later than 30 days of the loan maturity date
5.00%
Adjustable interest rate after the third year, if the borrower regularly services their loan obligations, i.e. not later than 30 days of the maturity of their annuities
/ 6.95%
Adjustable interest rate after the third year as well as in the first three years if the borrower fails to regularly services their loan obligations, i.e. one or more annuities
/ 7.627%
2. Housing and business premise loans with fixed interest rate in the first five years for employees in companies and their related entities that have deposits in the Bank over MKD 60,000,000.00 as well as for buying housing and
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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business premises from a company/investor or their related entities that have deposited over MKD 60,000,000.00 in the Bank
Fixed interest rate in the first five years (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
/ 5.00%
Adjustable interest rate after the fifth year, if the borrower regularly services their loan obligations, i.e. not later than 30 days of the date of maturity of their annuities
/ 6.95%
Adjustable interest rate after the fifth year, if the borrower regularly services their loan obligations, i.e. not later than 30 days of the date of maturity of their annuities
/ 7.627%
2.1 Housing or business premise loan from a company/investor or their related entities that have deposited over MKD 60,000,000.00 in the Bank intended for the employees in banks and in companies and their related entities that have deposited over MKD 60,000,000.00 in the Bank
Fixed interest rate in the first three years (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
/ 2.90%
Fixed interest rate in the fourth and five years (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
/ 3.90%
Fixed interest rate from the sixth to tenth year (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
/ 5.90%
Adjustable interest rate after the tenth year, if the borrowers regularly service their loan obligations, i.e. not later than 30 days of the date of maturity of their annuities
/ 6,95%
Adjustable interest rate after the tenth year, if the borrowers regularly service their loan obligations, i.e. not later than 30 days of the date of maturity of their annuities
/ 7,627%
3. Subsidized housing loan
3.1. For loans where half of the month annuity is paid from the Budget of the Ministry of Finance in the first five years of the loan repayment for buying a new flat, or 75% of the monthly annuity in the first five years of the loan repayment for construction/buying a house and in case where a natural person aged 35 appears for construction/buying a house, or a natural person in a matrimony in which at least one of the spouses is 35 year of age:
Fixed interest rate in the first three years / 3.95%
Fixed interest rate in the fourth and fifth year / 4.44%
Adjustable for the remaining period for borrowers who receive their salary in the Bank
/ 6 month EURIBOR P + 5% margin, but not lower than 6.90%p.a
3.2. For loans where half of the down payment for the flat is paid from the Budget of the Ministry of Finance which may not exceed 25% of the maximum subsided value of the housing loan, i.e. not more than EUR 6,250 in MKD counter value, or 75% of the down payment for the house which may not exceed 25% of the maximum subsided value of the housing loan, i.e. not more than EUR 9,375 in MKD
Not higher than 6 month EURIBOR P + 4.5 p.p. annually for the entire duration of the payment period
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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counter value and the full amount of the down payment for construction or buying a new house, which may not exceed 25% of the maximum subsided value of the housing loan, i.e. not more than EUR 12,500 in MKD counter value for construction/buying a house, in case where a natural person to the age of 35 appears for construction/buying a house, or a natural person in a matrimony in which at least one of the spouses is to 35 year of age
4. Housing loan with fixed interest rate in the first five years for the employees in Stopanska banka a.d. Bitola
Fixed interest rate in the first five years (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
/ 5,00%
Adjustable interest rate after the fifth year, if the borrowers regularly service their loan obligations, i.e. not later than 30 days of the date of maturity of their annuities
/ 6.95%
Adjustable interest rate after the fifth year and in the first five years, if the borrowers fails to regularly service their loan obligations, i.e. delays in payment of one or more annuities
/ 7.627%
5. Loan for purchase of business premises 10.50% 7.627%
6. Renovation loan 10.50% 7.627%
7. Mortgage secured non-purpose consumer loan 11.25% 7.627%
7.1. Mortgage secured non-purpose consumer loan with fixed interest rate in the first 3 years
Fixed interest rate in the first year (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
7.50% 6.50%
Fixed interest rate in the second and third year (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of their annuities
7.50% 6.95%
Adjustable interest rate after the third year, if the borrowers regularly service their loan obligations, i.e. not later than 30 days of the date of maturity of their annuities
8.50% 7.627%
Adjustable interest rate after the fifth year and in the first three years, if the borrowers fail to regularly service their loan obligations, i.e. are in delay of one or more annuities
11.25% 7.627%
7.2. Purpose loan for buying stocks or shares in companies
Fixed interest rate in the first three years (annually) in case of regular repayment, i.e. not later than 30 days of the date of maturity of the annuities
7.50% /
Adjustable interest rate after the third year, if the borrowers regularly service their loan obligations, i.e. not later than 30 days of the date of maturity of the annuities
8.50% /
Adjustable interest rate after the third year and in the first three years, if the borrowers fail to regularly service their loan obligations, i.e. are in delay of one or more annuities
11.25% /
32. CAR LOAN 10.00% 7.26%
33-A. STATE BOND PLEDGE SECURED LOANS 8.50% 7.627%
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33-B. LOANS FOR AGRICULTURAL EQUIPMENT 10.00% 7.627%
34. ALLOWED OVERDRAFT ON TRANSACTION ACCOUNT 11.25%
34-A. ALLOWED OVERDRAFT ON TRANSACTION ACCOUNT FOR ANNUITY PAYMENTS WITH MASTERCARD DEBIT OVER 12 INSTALLMENTS
11.25%
34.1. ALLOWED OVERDRAFT ON TRANSACTION ACCOUNT FOR PAYMENT OF MORE INSTALLMENTS WITH MASTERCARD DEBIT
11.25%
Requirements for approval of allowed overdraft shall be defined by a special Decision on the Requirements for Approval of Allowed Overdraft on the Citizens’ Accounts Tied to Debit Cards of Stopanska banka a.d. Bitola
35. The interest rate on unpermitted overdraft on the citizens’ transaction account tied to a payment card shall be defined
to the amount of the default interest rate
36 The Bank shall charge interest on the amount of the funds over the allowed limit on the credit card as well as in case of delay of fulfilment of the obligation by the credit card user in the envisaged term
to the amount of the default interest rate
37. The Bank shall charge interest on eventual negative balance of the citizens’ savings deposits as well as MKD and foreign currency transaction accounts
to the amount of the default interest rate
38 a. Change in the interest rates for natural persons with days of delay over 60 days (61-90)
The applicable interest rate shall increase by 1 percentage point, but not more than the statutory default interest rate under the LO
38. Change in the interest rates in case of change of the risk category
INTEREST RATES
MKD In MKD counter value in EUR
38.1. Change from better to worse risk category for one category, from A to B
The applicable interest rate shall increase by 1 percentage point, but not more than the statutory default interest rate
The applicable interest rate shall increase by 1 percentage point, but not more than the statutory interest rate. In case where this increase would cause surpass of the statutory default interest rate the loan shall be converted in MKD
38.2. Change from better to worse risk category (change to C, D or E category)
The applicable interest rate shall increase to the amount of the maximum statutory default interest
The loan shall be converted in MKD. The applicable interest rate shall increase to the amount of the maximum statutory default interest on MKD loans.
38.3. Return to A risk category from prior B risk category
The applicable interest rate shall decrease by 1 percentage point, but not lower than the initially approved interest rate
The applicable interest rate shall decrease by 1 percentage point, but not lower than the initially approved interest rate. Once a loan has been converted to MKD loan, it shall not be retransferred in a loan with FX clause.
38.4. Return to A risk category from prior C, D or E risk category
The applicable interest rate shall decrease by 2 percentage points, but not lower than the
The applicable interest rate shall decrease by 2 percentage points, but not lower than the initially approved
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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initially approved interest rate interest rate. Once a loan has been converted to MKD loan, it shall not be retransferred in a loan with FX clause.
38.5. Return to B risk category from any worse risk category
The applicable interest rate shall decrease by 1 percentage point, but not lower than the initially approved interest rate
The applicable interest rate shall decrease by 1 percentage point, but not lower than the initially approved interest rate. Once a loan has been converted to MKD loan, it shall not be retransferred in a loan with FX clause.
Exception in loan interest rates
Manager 0.2 p.p. (other than real estate mortgage secured loans)
Director of Retail Management Division 0.5 p.p. (other than real estate mortgage secured loans)
MB Member responsible for the Retail Management Division
1 p.p. (other than real estate mortgage secured loans)
Management Board, at least two members All other exceptions
B. PASSIVE INTEREST RATES
B.1. PASSIVE INTEREST RATES FOR LEGAL ENTITIES
38. The Bank shall pay interest rate on loans from the country and abroad and on purpose term assets defined
in agreement
39. On liquidity loans the Bank will pay the following interest
- to the NBRM
- to the deposit market
- to other banks
under the NBRM Decision
depending on the supply and demand
as agreed
40. On MKD sight deposits and non-purpose term deposits, the Bank shall pay the following interest rates
1. Sight deposits:
- Domestic legal entities (residents)
- Foreign legal entities (nonresidents)
0.00% interest free, and by exception
by agreement
2. Term deposits2 for domestic and foreign legal entities for a term over or on:
Term Annual decursive adjustable interest rate*
1 to 6 months
up to MKD 5,000,000 0.05%
from MKD 5,000,001.-10,000,000.00 0.10%
over MKD 10,000,000.00 0.15%
2 Term deposit shall mean the total amount of term deposits of a legal entity.
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From 6 to 12 months
up to MKD 5,000,000 0.45%
from MKD 5,000,001.-10,000,000.00 0.55%
over MKD 10,000,000.00 0.65%
12 months
up to MKD 5,000,000 1.00%
from MKD 5,000,001.-10,000,000.00 1.40%
over MKD 10,000,000.00 1.60%
24 months
up to MKD 5,000,000 1.70%
from MKD 5,000,001-10,000,000.00 1.80%
over MKD 10,000,000.00 1.90%
36 months
up to MKD 5,000,000 2.20%
from MKD 5,000,001-10,000,000.00 2.30%
over MKD 10,000,000.00 2.35%
48 months
up to MKD 5,000,000 2.50%
from MKD 5,000,001-10,000,000.00 2.70%
over MKD 10,000,000.00 2.80%
60 months
up to MKD 5,000,000 2.80%
from MKD 5,000,001-10,000,000.00 2.90%
over MKD 10,000,000.00 3.00%
2.1. Term deposits3 for domestic and foreign legal entities on term over or on:
Term Annual decursive adjustable interest rate*
24 months
up to MKD 5,000,000 reference interest rate for calculation of default interest rate – 1.55 p.p.
from MKD 5,000,001-10,000,000.00 reference interest rate for calculation of default interest rate – 1.45 p.p.
over MKD 10,000,000.00 reference interest rate for calculation of default interest rate – 1.35 p.p.
36 months
up to MKD 5,000,000 reference interest rate for calculation of default interest rate – 1.05 p.p.
from MKD 5,000,001-10,000,000.00 reference interest rate for calculation of default interest rate – 0.95 p.p.
over MKD 10,000,000.00 reference interest rate for calculation of default interest rate – 0.90 p.p.
48 months
up to MKD 5,000,000 reference interest rate for calculation of default interest rate – 0.75 p.p.
from MKD 5,000,001-10,000,000.00 reference interest rate for calculation of default
3 Term deposit shall mean the total amount of term deposits of a legal entity.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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interest rate – 0.55 p.p.
over MKD 10,000,000.00 reference interest rate for calculation of default interest rate – 0.45 p.p.
60 months
up to MKD 5,000,000 reference interest rate for calculation of default interest rate – 0.45 p.p.
from MKD 5,000,001-10,000,000.00 reference interest rate for calculation of default interest rate – 0.35 p.p.
over MKD 10,000,000.00 reference interest rate for calculation of default interest rate – 0.25 p.p.
3. Open flexible deposit with adjustable interest rate
- if MKD 10,000,000.00 or more than MKD 10,000,000.00 are deposited for a period of 10 days, the following interest rate shall be calculated
0.60%
if within the period of 10 days the deposit balance was not MKD 10,000,000.00 in continuity, but less than MKD 10,000,000.00, for the days when MKD 10,000,000.00 were deposited the following interest rate shall be calculated
0.30%
for the days when less than MKD 10,000,000.00 were deposited the following interest rate shall be calculated
0.10%
On temporary deposits obtained through a tender and deposits of pension funds, the Bank shall pay
as agreed
- if MKD 7,000,000.00 or more than MKD 7,000,000.00 are deposited for a period of 10 days the following interest rate shall be calculated
0.30%
if within the period of 10 days the deposit balance was not MKD 7,000,000.00 in continuity, but less than MKD 7,000,000.00, for the days when MKD 7,000,000.00, were deposited the following interest rate shall be calculated
0.15%
for the days when less than MKD 7,000,000.00 were deposited the following interest rate shall be calculated
0.05%
- if MKD 5,000,000.00 or more than MKD 5,000,000.00 are deposited for a period of 10 days the following interest rate shall be calculated
0.30%
if within the period of 10 days the deposit balance was not MKD 5,000,000.00 in continuity, but less than MKD 5,000,000.00, for the days when MKD 5,000,000.00, were deposited the following interest rate shall be calculated
0.05%
for the days when less than MKD 5,000,000.00 were deposited the following interest rate shall be calculated
0.02%
4. Deposits of legal entities with floating interest rate
reference interest rate for calculation of the default
interest rate – 0.35 p.p. within 12 months
reference interest rate for calculation of the default
interest rate +0.05 p.p. within 24 months
5. Deposit of legal entities with floating interest rate – MKD deposit with FX clause
1.40% within 12 months
1.70% within 24 months
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Minimum term amount
MKD 10,000,000.00
41. On MKD purpose term deposits, the Bank shall pay interest rate As agreed
42. On MKD non-purpose term deposit with FX clause, the Bank shall pay the following adjustable interest rates:
Term Annual decursive interest rate*
1 to 6 months
up to EUR 50,000.00 in MKD counter value 0.03%
from EUR 50,001.00-100,000.00 in MKD counter value 0.05%
Over EUR 100,000.00 in MKD counter value 0.10%
From 6 to 12 months
up to EUR 50,000.00 in MKD counter value 0.20%
from EUR 50,001.00-100,000.00 in MKD counter value 0.30%
Over EUR 100,000.00 in MKD counter value 0.50%
12 months
up to EUR 50,000.00 in MKD counter value 0.50%
from EUR 50,001.00-100,000.00 in MKD counter value 0.60%
Over EUR 100,000.00 in MKD counter value 0.80%
42.1. MKD deposit with FX clause for legal entities with floating interest rate within 12 months
Reference interest rate for calculation of the default interest rate +/- 0.05 p.p.
43. On Foreign currency non-purpose sight deposits and on tem deposits of domestic and foreign legal entities other than banks and exchange offices, the Bank shall pay the following interest rates:
1. Sight deposits 2. On temporary deposits obtained through a tender 3. On foreign currency deposits of domestic and foreign legal entities held as coverage for letters of credit and checks 4. On non-purpose term deposits in EUR, the Bank shall pay the following interest rates:
Term Adjustable interest rate annually
over 1 to 3 months 0.03%
Over 3 to 6 months 0.08%
Over 6 to 12 months 0.25%
Over 12 months 0.80%
24 months 1.30%
4.1
Term Floating interest rate annually
interest free, and in case of exception as agreed
as agreed
interest free, and in case of exception as agreed
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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24 months 1 M Euribor + 1.227 p.p.
44. On foreign currency deposits of foreign banks and financial companies as well as deposits held as coverage for loro letters of credit and checks, the Bank will pay
interest free, and in case of exception as agreed
B.2. PASSIVE INTEREST RATES FOR NATURAL PERSONS
45. On MKD sight deposits of domestic and foreign natural persons, the Bank shall pay the following adjustable interest rate:
* Existing temporary MKD term deposits may serve as collateral on retail and corporate loans.
Item No DEPOSITS Interest rates
I. Sight deposits
1 Transaction account 0.00%
2 Sight savings deposits 0.00%
3 Open savings deposit (Note: Minimum term amount on open savings deposit shall be MKD 100,000.00. First withdrawal of the funds shall be commission free, and commission of MKD 250.00 shall be paid for each following withdrawal during the current month)
0.50%
46. On MKD non-purpose term savings deposits of domestic and foreign natural persons, the Bank shall pay adjustable interest rate relevant to the term period as follows:
Item No DEPOSITS Adjustable interest
rates
I. Term deposits
1. 1 moth 0.04%
2. 3 months 0.30%
3. 4 months 0.30%
4. 6 months 1.00%
5. 8 months 1.00%
6. Open MKD 12-month savings deposit (Note: On open MKD 12-month savings deposit, interest rate of 1.00% shall be calculated for early withdrawn funds)
1.60%
7. 12 months 1.40%
8. 14 months 1.40%
9. 15 months 1.40%
10. 24 months 2.50%
10.1 24 months with floating interest rate Reference interest rate for
calculation of the
default interest
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rate - 0.75 p.p.
11. 36 months and more 3.10%
II. Recurring MKD deposit
3 months 6 months 12 months 24 months 36 months and
1. From MKD 100,000-1,000,000 0.30% 1.00% 1.40% 2.50% 3.10%
2. From MKD 1,000,001-3,000,000 0.40% 1.10% 1.50% 2.60% 3.20%
3 Over MKD 3,000,001 0.50% 1.20% 1.60% 2.70% 3.30%
III. Children’s savings
Children’s savings – for children up to the age of 18 in MKD
1. 12-month term deposit 2.00%
2. 24-month term deposit 3.00%
3. 36-month term deposit and over 3.40%
IV. Long-term MKD deposit with fixed stimulus with adjustable interest rates
For salary or pension recipients in the Bank and credit card users
MKD Period
24 months 36 months 48 months
Interest rate Stimulus Interest rate Stimulus Interest rate Stimulus
2.40% 0.50% 2.60% 0.50% 3.00% 0.50%
This type of current term deposits made to 31.07.2013 inclusive shall be maintained under the conditions for salary or pension recipients in the Bank or credit card users
For other clients who are not salary or pension recipients in the Bank
MKD Period
24 months 24 months 24 months
Interest rate Stimulus Interest rate Stimulus Interest rate Stimulus
2.30% 0.50% 2.50% 0.50% 2.90% 0.50%
For all term deposits in counter value of over EUR 100,000.00 additional 0.2% stimulus shall be paid For all term deposits in counter value of over EUR 200,000.00 additional 0.4% stimulus shall be paid For all term deposit of one client or a group of related entities of a total amount of MKD 10,000,000.00, lower interest rate threshold shall be added: For MKD term deposits shall not go beyond 1.60%
Interest rates referring to each deposits for residents – natural persons shall also apply to nonresidents – natural persons
V. Long-term MKD deposit with fixed interest rate
Anticipated disbursement of the interest on the deposit payment date
Term period Interest rate (MKD)
15 months 1.24%
VI. Gradual stimulated savings
Currency Adjustable interest rate in the first year
Fixed stimulus
24 months 36 months
MKD 1.50% 1.10% 1.70%
47. On foreign currency deposits and savings deposits of domestic and foreign natural persons, the Bank shall define the following adjustable interest rates
*Existing foreign currency term deposits may serve as collateral for retail or corporate loans
1. Foreign currency deposits (interest rate shall be calculated annually and is disbursed in foreign currency)
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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Currency
Sight
1
3
4
6
8
12
12-month open
savings deposit
14
15
24
36
EUR 0.00% 0.03% 0.05% 0.05% 0.20% 0.20% 0.80% 0.30% 0.80% 0.80% 1.50% 1.80%
USD$ 0.00% 0.05% 0.08% 0.08% 0.20% 0.20% 0.40% / / / 0.70% 0.80%
CHF 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.02% / / / 0.02% 0.02%
AU$ 0.00% 1.20% 1.50% 1.50% 1.90% 1.90% 2.40% / / / 2.80% 3.10%
CAD 0.00% 0.10% 0.20% 0.20% 0.40% 0.40% 1.00% / / / 1.40% 1.60%
Other currencies
0.00% 0.07% 0.10% 0.10% 0.15% 0.15% 0.60% / / / 0.80% 1.00%
II. Recurring EUR deposit
3 months 6 months 12 months 24 months 36 months and
From 5,000 to 10,000 0.05% 0.20% 0.80% 1.50% 1.80%
From 10,001 to 30,000 0.15% 0.30% 0.90% 1.60% 1.90%
From 30,001 to 50,001 0.25% 0.40% 1.00% 1.70% 1.95%
Over 50,000 0.35% 0.50% 1.10% 1.80% 2.00%
III. Children’s savings in EUR with the following interest rates
12-month term deposits 1.00%
24-month term deposits 1.70%
36-month term deposits and over 2.00%
36-month term deposits and over with floating interest rate
1 M Euribor +2.373 p.p.
On open EUR savings deposit for early withdrawal, the Bank shall calculate interest rate of 0.10%
Interest rate related to all deposits of residents – natural persons shall also apply to nonresidents – natural persons
IV. Long-term foreign currency deposit with fixed stimulus
For salary or pension receivers in the Bank and credit card users
Period
24 months 36 months 48 months
EUR
Interest rate Stimulus Interest rate Stimulus Interest rate Stimulus
1.30% 0.40% 1.60% 0.40% 1.80% 0.40%
This type of current term deposit made to 31.07.2013 inclusive shall be maintained under the conditions for salary or pension recipients in the Bank or credit card users
For other clients who are not salary or pension recipients in the Bank
Period
24 months 36 months 48 months
EUR
Interest rate Stimulus Interest rate Stimulus Interest rate Stimulus
1.20% 0.40% 1.50% 0.40% 1.70% 0.40%
For all term deposit amounts in counter value over EUR 100,000.00 additional 0.2% stimulus shall be paid For all term deposits in counter value of over EUR 200,000.00 additional 0.4% stimulus shall be paid For all term deposit of one client or a group of related entities of a total amount of MKD 10,000,000.00, lower interest rate threshold shall be added: For MKD term deposits shall not go beyond 0.80%
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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V. Long-term foreign currency deposit with fixed interest rate
Anticipated disbursement of the interest on the deposit payment date
Term period Interest rate (EUR)
15 months 0.96%
VI. Gradual stimulated savings
Currency Adjustable interest rate in the first year
Fixed stimulus
24 months 36 months
EUR 0.90% 0.70% 1.00%
Exceptions in deposit interest rates
The proposal shall be submitted to and approved by a competent person in compliance with the exceptions in line with the relevant percentage points
Minimum savings deposit amount, separately or
cumulatively
Manager (for all depositors) Up to 0.1 EUR 20,000.00
Manager (for depositors – salary or pension recipients on their transaction accounts in STBBT for at least 3 months)
Up to 0.2 EUR 10,000.00
Director of Retail Management Division (for all depositors) Up to 0.2 EUR 10,000.00
Director of Retail Management Division (for depositors – salary or pension recipients on their transaction accounts in STBBT for at least 3 months)
Up to 0.3 Without limitation
MB member responsible for the Retail Management Division Up to 0.5 Without limitation
Management Board, at least two members For all other
exceptions
Without limitation
C. INTERCALARY, DEFAULT AND CONTRACTUAL INTERESTS
48. From the date of use to the commencement repayment date, the Bank shall calculate and charge intercalary interest equal to the contractual interest rate. The calculation and charge of the loan intercalary interest under agreements concluded shall be made monthly, unless otherwise is envisaged under the provisions of the agreement. By way of derogation from the previous paragraph, for capital facilities, the competent loan approving authority may decide that the intercalary interest calculated is subscribed to the principal and paid during the repayment period.
49. The Bank shall calculate and charge default interest to all types of loans and claims that are due and not repaid in the agreed term amounting to:
1. For legal entities
1.1. For MKD loans Statutory default interest (reference interest rate + 10 p.p.) increased by
50%
1.2. For MKD loans with FX clause and foreign currency loans (foreign currency)
Statutory default interest (one month EURIBOR + 10 p.p.) increased by 50%
1.3. For MKD loans, MKD loans with FX clause and foreign currency loans (foreign currency) secured by cash deposit
Statutory default interest
2. For natural persons
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
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2.1. For MKD loans Statutory default interest (reference interest rate + 8 p.p.)
2.2. For MKD loans with FX clause and foreign currency loans (foreign currency)
Statutory default interest (one month EURIBOR + 8 p.p.)
50. Base for calculation of default interest shall be due and unpaid principal.
III. METHOD OF CALCULATION, PAYMENT AND INTEREST COLLECTION The method of calculation and amount of the interest rate in the cases referred to in the previous paragraph shall be determined by the Bank Management Board. Interest rates under this Decision shall be annual and floating, fixed and adjustable, the calculation is decursive by applying a proportional method. By way of derogation agreed with the borrower when buying and selling securities or other claim, if the borrower decides to pay the interest in advance the calculation shall be anticipated by applying a proportional method. The calculation, payment and collection of the interest on all MKD and foreign currency assets and loans as well as other claims from the Bank assets shall be made monthly within the maturity period. By way of derogation, the payment and collection of the interest may be made in longer terms under the contract. Interest on loans which terms of interest calculation, determined in already concluded agreements, are longer than the interest calculation period as determined in paragraph 1 of this point, shall be calculated monthly and recorded as unearned interest on relevant accounts while collection shall be made within the term defined in the agreement, or this Decision. Interest on loans provided by the Development and Investment Agency and Macedonian Bank for Development Promotion and other earmarked funds established by law and provided under legally determined conditions shall be calculated and collected under the determined conditions. Interest on loans from acquired assets shall be calculated and collected under the agreed calculation method. Interest collection on loans and other short-term receivables shall be made within 6 banking days as of the calculation date. For due and fully repaid loans in the current month, interest collection term shall be 6 banking days as of expiry of that month, if after the final calculation, the interest has not been paid within the maturity period. Interest on foreign currency loans shall be calculated and collected under the terms defined in the agreements.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
MKD sight deposit interest of legal entities shall be calculated and paid monthly. MKD term deposit interest of legal entities shall be calculated and paid within the maturity period, and for terms longer than 1 month the interest may be paid monthly as agreed with the depositor. Interest on MKD and foreign currency deposits on the citizens’ transaction accounts and MKD and foreign currency sight savings deposits shall be calculated and paid monthly. Interest on all term MKD and foreign currency deposits shall be calculated and paid within the maturity period, and for terms more than one month interest shall be calculated and paid monthly. Default interest shall be calculated in compliance with the Law on Obligations. Interest on loan based on claims reported by bankruptcy companies, claims from initiated court proceedings and off-balance records shall be calculated and paid in compliance with applicable legislation and internal acts of the Bank. The Bank shall paid or collect interest in MKD or currencies, if stipulated, by the type of the deposits and loans indicated herein. The interest rate percentage on purpose deposits and loans thereof shall be determined by agreement while providing margin for the Bank. On funds provided by other credit lines, the Bank shall calculate and collect interest and other charges in MKD and foreign currencies to the amount of the interest and charges paid to the creditors under the agreement while providing margin for the Bank. When issuing letters of guarantee and avals, the Bank shall mandatory agree statutory default interest or contractual default interest in case they are borne by the Bank. In case of delay of a loan repayment, the obligation to calculate and collect the interest may not be suspended. In case of commission operation, for anything not regulated by the agreement, the provisions of this Decision and Law on Obligations shall apply. The Bank shall negotiate, calculate, pay and collect interest in accordance with the provisions hereof and Law on Obligations. When calculating interests days shall be calculated by calendar, and years by 365 or 366 days, except in cases where 360 days apply under law or bylaw. When determining the number of days for which interest is calculated, the first day of the entry shall be considered. The Bank shall, when necessary, change the method and periods of calculation, collection and payment of interest, depending on amendments to laws and other regulations and the Business Policy of the Bank.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
IV. TRANSITIONAL AND FINAL PROVISIONS
52. In case of agreed fixed interest on loans and purpose term deposits, the interest shall be calculated under the agreed rates to the expiry of the agreed terms, or to the maturity. If, after this Decision has taken effect, at the request of a borrower, the usage is prolonged or repayment term is changed, interest shall be agreed under the rates provided for herein. 53. The Bank shall change the percentage of adjustable interest rates on loans and deposits and the calculation method during the agreement period in accordance with the changes of banks’ interest rates, inflation rate, monetary policy measures, interest rate of treasury bills and government bills, reference rate, balanced opportunities and changes of LIBOR and EURIBOR for the relevant currency. For floating interest rates, the Bank shall make monthly reconciliation of a relevant interest rate (EURIBOR, LIBOR, reference interest rate for calculation of the default interest rate), which is a base for calculation of the floating interest rate. Interest rates are taken in compliance with officially published date by NBRM http://nbrm.mk/ wherefrom interest rate for B3 is taken, http://www.euribor-rates.eu/ wherefrom interest rate for EURIBOR is taken and http://www.global-rates.com/interest-rates/libor/libor.aspx/ wherefrom interest rate for LIBOR are taken. The Bank shall be obliged to ensure interest rate variability clause, period and method of calculation in terms of the provisions of paragraph 1 of this point in any and all agreements. The Bank shall be obliged to notify a borrower or depositor in writing on the changes in the interest rates in terms of paragraph 1 of this point. 54. For anything that is not regulated by this Decision, the relevant regulations shall apply and the acts adopted thereof for governing interest rates. In addition to persons with special rights and obligations, the Management Board may approve special interest rates – contractual to customers loyal to the Bank, who realize their entire operations or significant part thereof through the Bank (domestic and international payment operations, salaries for their employees, credit, guarantee and FX operations and etc.) as well as to new customers to be acquired and attracted as customers in the part of payment and credit operations depending on actual occasions and needs, changes in interest rates in the deposit and short-term securities market and treasury bill rate, in order to keep them and extend the Bank portfolio and potential. For amendments to the Decision on interest rates as referred to in paragraph 1 of this point and for determining special terms and conditions and interest rates as provided for in paragraph 2 of this point, conclusions shall be signed by the Chairman and members of the Bank Management Board. Update of the amendments made, for which the relevant Departments have previously delivered signed Decisions to the Liquidity Management and ALM Department as well as supplements in the consolidated text of the Decision and delivery to all departments of the Bank shall be in charge of the Liquidity Management and ALM Department.
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017
55. The Management Board may in extraordinary cases for relevant loans to envisaged active interest rates higher than the interest rates provided for in the Decision on Interest Rate Policy, due to default in regular payment by the clients, risk category impairment and etc., but not more than the contractual default interest for the relevant type of product. The Office of the Bank Management Board shall prepare a conclusion thereof. 56. The Decision on Interest Rate Policy of Stopanska banka a.d. Bitola UO No 02-11792/1/II-18 of 08.06.2017 (Consolidated text) and all amendments thereto adopted to the date of taking effect shall cease to have effect by the application of this Decision. UO No Management Board Bitola, __.__.2017 Vladimir Eftimoski, MA, Chairman __________________________ Gordana Baltovska, MA, Member __________________________ Natasha Nestorovska, PhD, Member
Explanation
To the Decision Amending the Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
Amendments to the Decision on Interest Rate Policy of Stopanska banka a.d. Bitola refer to implementation of the floating interest rates in compliance with the NBRM Recommendations. Drafted by: Approved by: Natasha Trajkova Sofka Angelevska Manger of Director of Liquidity Management and ALM Department Support and Finance Division Controlled by: Sofka Angelevska Director of Support and Finance Division
Decision on Interest Rate Policy of Stopanska banka a.d. Bitola
220-11 Version / . .1017