UBB has announced its new conditions for lending to farmers against subsidies for land under Campaign 2016
UBB offers an interest rate of 4% and 0.5% administration fee per annum for Agricultural Loans against European subsidies. For a tenth consecutive year, agricultural producers can benefit from the specialized credit product of the bank.
For the first time in Campaign 2016 UBB provides its clients with an opportunity of applying for a loan even before submitting a subsidy request form. Agricultural producers can use a sum up to 95% of the total amount of the expected subsidies under the Single Area Payment Scheme (SAPS), green payments and coupled support for fruits and vegetables, as well as up to 50% of the payments for agro-ecology.
Upon pledging the subsidies until the end of the programming period interest rates will fall down to 3.75%.
Repayment of loans will be made with funds from the received subsidies, with no fee for prepayment.
The period of loans will expire upon the receipt of funds in the client’s current account with UBB, but not later than 30.06.2017.
More information about the loan terms and conditions can be found here.