What are the ways to repay the tourism loan?

The loan is repaid in installments or annuities. When contracting a tourism loan, you can choose the following: Standard annuity repayment – you repay the loan in equal monthly annuities. The amount of the annuity is the same every month during the entire loan repayment term – the principal share increases over time and the interest share decreases. Flexi annuity repayment (only for loans with a repayment term of 15 years) – during the first 5 years, you repay the loan in reduced monthly annuities that you choose yourself. The minimum amount of the Flexi annuity is the sum of the interest and 10% of the principal calculated according to the standard annuity repayment, while the maximum Flexi annuity is equal to the annuity calculated according to the standard annuity repayment. After the expiration of the Flexi repayment period, the remaining outstanding principal of the loan is repaid according to the standard annuity repayment. Installment payment – you repay the loan in installments, the amount of which decreases with the time of repayment of the loan. The share of principal in each installment is the same and the share of interest is reduced. Annuities/installments for loans with monthly repayment are due on the last day of each month until the loan is fully repaid. For loans with annual repayment, annuities/installments are due once a year, on the last day of the month of the annuity/installment maturity (31 July), until the loan is fully repaid.

Make your guests' delight happen: Tourism loan

Loan for private renters
Monthly or annual repayment
The grace period for principal repayment can be up to 12 months
No loan processing fee

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What can you finance with a tourism loan?

Purchase, renovation and furnishing of accommodation facilities

Construction, extension and completion of accommodation facilities

Purchase, construction of pools and landscaping

Refinancing of existing tourism loans

Loan conditions

Loan amount - model I: 1.000 - 15.000 EUR

without a mortgage

Loan amount - model II: 15.001 - 200.000 EUR

with a mortgage on the property

Repayment: 3 - 15 years

up to max. 7 years for Model I loans

Fixed interest rate: 5,50% (EIR 5,64%)

Loan amount	15.000,00 EUR
Regular interest rate	5,50%
Effective interest rate (EIR)	5,64%
Loan repayment period	84 months (7 years)
Monthly installment	215,55 EUR
Intercalary interest	63,11 EUR
Interest rate for the period of loan repayment	3.106,20 EUR
Loan processing fee	0,00 EUR
Total payment amount	18.169,31 EUR

The calculation of a representative example is presented for assuming loan disbursement on 1.2. and intercalary interest payments until 29.2.2024., standard annuity repayment.

Additional information in accordance with the Act on Consumer Housing Loans:
Loans exceeding 15,000 EUR are secured by a mortgage on the property. For the loan, it is mandatory to enter into an agreement for additional services: property insurance policy for loans secured by a mortgage on the property. There is no exchange rate risk because loans are contracted in EUR. The interest rate is fixed and there is no risk of the interest rate changing.

How to get a tourism loan?

Submission of documentation

Submit the loan application with additional documentation at the branch office.

Documentation necessary for the realization of tourism loan:

Decision on Approval for Providing Hospitality Services in a Household, in accordance with the Hospitality and Catering Industry Act, issued in the name of the loan applicant (individual)
Certificate from the Tourist Board office, under the jurisdiction of which the client's tourist facilities fall, confirming the total number of overnight stays in the previous two years
The Decision on the Categorization of the Object by the county office for tourism
Certificate from the Tax Administration on tax debt
Form TZ 2 (information on the tax base for calculating the tourist board membership fee)
Loan application
Copies of identity cards of the loan applicant, co-borrowers and guarantors or pledgors
Proof of property ownership: the original excerpt from the land registry or the register of deposited contracts, not older than 5 days

Additional documentation for loans secured by a mortgage on the property:

Energy certificate
Property appraisal
Insurance policy for the property (apartment/house) assigned in favor of the bank

Information about the documentation required for specific purposes of a tourism loan can be found in the detailed loan terms and conditions.

Property appraisal (for loans secured by a mortgage on the property)

The real property appraisal is ordered on your behalf by a personal banker with an authorized appraiser.

Loan processing and approval

Based on the collected documentation (and property appraisal for loans secured by a mortgage on the property), we make the decision regarding the loan approval. Loans secured by a mortgage on the property can amount to a maximum of 60% of the appraised value of the property.

Conclusion of the agreement and registration of the mortgage

The banker will let you know when the agreement and all other documents are ready to be signed and solemnized by a notary public. The notarized loan agreement, through a notary office or lawyer, is submitted along with the Proposal for the Registration of a Lien to the competent Municipal Court (land registry).

Loan disbursement

After receiving the Decision on the Registration of the Mortgage and the conclusion of insurance agreements, the
funds are disbursed. For the purchase of accommodation facilities, the funds can be paid directly to the seller, while for loans intended for renovation, the money is disbursed to your account or in cash.

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FAQ

Find answers to the most frequently asked questions.

Individual tourism professionals or citizens engaged in renting accommodation or tourist capacities, who are citizens of the Republic of Croatia with permanent residence in the Republic of Croatia, and who, based on their creditworthiness, can act as the principal borrower. A borrower can also be a person who generates income solely from tourism activities.

Yes, it is possible to pay off part or all of the tourism loan early. To make an early
repayment, you need to submit a request for early repayment. Regular interest is not paid on the loan amount that is repaid early for the remaining repayment term.

The loan is repaid in installments or annuities.

When contracting a tourism loan, you can choose the following:

Standard annuity repayment – you repay the loan in equal monthly annuities. The amount of the annuity is the same every month during the entire loan repayment term – the principal share increases over time and the interest share decreases.
Flexi annuity repayment (only for loans with a repayment term of 15 years) – during the first 5 years, you repay the loan in reduced monthly annuities that you choose yourself. The minimum amount of the Flexi annuity is the sum of the interest and 10% of the principal calculated according to the standard annuity repayment, while the maximum Flexi annuity is equal to the annuity calculated according to the standard annuity repayment. After the expiration of the Flexi repayment period, the remaining outstanding principal of the loan is repaid according to the standard annuity repayment.
Installment payment – you repay the loan in installments, the amount of which decreases with the time of repayment of the loan. The share of principal in each
installment is the same and the share of interest is reduced.

Annuities/installments for loans with monthly repayment are due on the last day of each month until the loan is fully repaid. For loans with annual repayment, annuities/installments are due once a year, on the last day of the month of the annuity/installment maturity (31 July), until the loan is fully repaid.

The grace period for principal repayment can be agreed for a period of up to 12 months, with monthly calculation and payment of interest. For loans with annual repayment, you can also agree to pay interest upon the expiration of the grace period.

The grace period is included in the loan repayment term.

The interest rate during the grace period is the same as the regular interest rate.

For loans with monthly repayment, the first annuity/installment is due in the month
following the month in which the grace period ended.

For loans with annual repayment, the first annuity/installment is due 12 (twelve) months after the last day of the month in which the grace period ended, but no later than 31 July.

The borrower pays interest monthly on the loan amount during the grace period and the first interest payment is due in the month following the month in which the loan was disbursed.

For loans with annual repayment and interest payment upon the expiration of the grace period, interest is calculated monthly during the grace period and it is due for payment on the last day of the month in which the grace period ends.

If a grace period is agreed with a Flexi annuity repayment, the total of the grace period
months and the duration of the Flexi repayment can be up to a maximum of five years.