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My Agricultural Land

My Agricultural Land

My Agricultural Land is an investment loan intended for purchase of agricultural land from categories one to six on condition of ascertaining (by the identification number of the land-use area) that the newly purchased land is within the area where the agricultural producer already owns land or has signed contracts for the cultivation of rented or leased land and that he/she will be capable of cultivating it.
 
Eligible to borrow are agricultural producers, wishing to acquire the rented land cultivated by them or to consolidate their own land holdings.
 
Requirements in regard to the agricultural producers:

  • Must cultivate at least 50 ha of land (own or rented);
  • Must have at least 3 years’ experience in agriculture;
  • Must possess the machinery required for land cultivation;
  • Must receive subsidies under direct area payments and national top-ups on account at
  • International Asset Bank AD;
  • Must have no overdue tax liabilities.

The clients or the related parties must undertake to cultivate the land purchased for the loan term, as a minimum.

  • High maximum amount;
  • Option to finance up to 100% of the price set in the purchase agreement;
  • Competitive interest rate levels;
  • Option to benefit from a grace period of up to 18 months;
  • Free activation of the Internet banking service - Asset Online.
  • Currency: BGN, EUR;
  • Loan amount:
           -In case of advance establishment of mortgage on own agricultural land or other immovable property the Bank may finance up to 100% of contract price set in the land purchase agreement.
           -In case the newly purchased land will serve as collateral advance funding may be provided, in compliance with the purchase contract, for:
                - up to 80% of the price of land of categories I and II;
                - up to 70% of the price of land of categories III and IV;
                - up to 50% of the price of land of categories V and VI.
           -In case the newly purchased land will serve as loan collateral, following its purchase by the client using his own funds, the Bank may subsequently refinance up to 80% of the property price, in compliance with submitted notarial deed of purchase, entered into not later than 12 months from the date of loan application and establishment of first-ranking mortgage;
           -Combined option – in case of a mortgage of own assets and newly purchased ones;
  • Repayment term: up to 120 months;
  • Repayment mode: individual repayment plan, with four repayment instalments per year as a minimum;
  • Grace Period: up to 18 months;
  • Co-financing: depending on the collateral provided;
  • Collateral: first-ranking mortgage.

Annual interest rate:

  BGN Euros
 Basic interest rate  min. 5.15%  min. 4.85%


The annual interest rate on the loan is floating and is formed from RIR for loans in BGN and 6m. EURIBOR for loans in EUR + the fixed margin.

 

 Fees and commissions:

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