Novi Grad Municipality in cooperation with ASA Bank co-finances part of the interest rate for young people buying their first apartment

(Patria) - Novi Grad Sarajevo Municipality will also co-finance part of the interest rate on housing loans for young people from its area who are solving their housing issue for the first time this year.

The cooperation agreement on the implementation of this project was signed today by Adisa Šuman, Assistant to the Mayor of Novi Grad Sarajevo Municipality for Education, Culture and Sports, and representatives of the Management of ASA Bank d.d. Sarajevo, Aldijana Rakić and Hasan Hasić, the Municipality of Novi Grad announced.

At the beginning of her address, Šuman thanked the numerous media representatives who showed interest and came to cover this significant project, emphasizing that this program has been implemented since 2018.

“This year, our partner is ASA Bank, which was selected through a public call published in April this year. It concerns the co-financing of the interest rate on housing loans for young people who are solving their housing issue for the first time. Applicants for this credit line can be young people up to 40 years of age who have not resolved their housing issue. The maximum loan amount is 220,000 KM with a repayment period of up to 20 years. Applicants must be from Novi Grad and purchase property in the Novi Grad municipality, and must have been registered in the municipality area for three years. The bank will very soon publish a public call that will be open for one month,” said Šuman.

Member of the ASA Bank Management Board for Sales and Support, Aldijana Rakić, thanked the Novi Grad Sarajevo Municipality for selecting ASA Bank as a partner for the implementation of this very important credit line for our young fellow citizens.

“This is also an opportunity to, in a way, influence the retention of young people in our country, by enabling them favorable credit lines for the purchase of an apartment or house, with amounts that correspond to current real estate prices on this market, as well as loan repayment periods. The Novi Grad Municipality subsidizes the interest rate by up to three percent for a period of up to five years of loan repayment. ASA Bank will provide quality infrastructure, a number of branches and employees who will respond efficiently and quickly to the realization of loans. A public call will be published and the selection of clients who apply will be carried out. The focus is on young people aged 35 to 40,” said Ms. Rakić.

Giving an example of a client who takes out 150,000 KM in loan funds, for a period of up to 20 years, Ms. Rakić explained that in that case, the Municipality subsidizes the interest amount up to 20,700 KM, while the total interest amount for that loan is around 33,000 KM, meaning that a significant portion of the interest rates is financed by the Novi Grad Sarajevo Municipality.

“I invite all our young fellow citizens, who are most numerous in the Novi Grad municipality, to take advantage of this opportunity and apply to the public call and realize this credit line. This credit line is intended not only for the purchase of already built properties, but also for new construction, so young people can apply for all properties currently being built in the Novi Grad municipality,” emphasized Aldijana Rakić.