The Central Bank of Montenegro (CBCG) has launched the mCBCG mobile application, designed to streamline the process of comparing consumer loan offers from various credit institutions across Montenegro. The app is now available for download on Google Play Store.
The mCBCG app consolidates previously available resources—such as the list of consumer loan offers, information on reduced interest rates and a financial glossary—into a single platform. Users can now efficiently compare interest rates from all credit institutions in Montenegro, enabling them to choose the best loan options based on their individual needs and financial situations.
The application features details on eight common types of consumer loans, including personal cash loans, cash loans for retirees, housing loans, mortgage loans, renovation and adaptation loans, refinancing loans, car loans, and education loans. It provides users with comprehensive information, such as interest rates, repayment periods, types of interest rates (fixed, variable, or combined), and other crucial loan details.
Additionally, the app offers insights into loan offers with reduced interest rates, a result of a recent CBCG initiative adopted by all Montenegrin banks. A financial glossary within the app helps users understand complex financial terms and concepts.
Developed by the CBCG team, the mCBCG app aims to enhance user experience by facilitating easier comparison of banking products. The Central Bank hopes that increased transparency will boost market competition, leading to more favorable pricing by credit institutions and ultimately reducing costs for consumers.
