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mCBCG app available on Google Play Store platform

02/08/2024

The Central Bank of Montenegro launched the mCBCG application with the aim of facilitating users' access to information about consumer loans offered by all credit institutions in Montenegro.


The app is available for download on the Google Play Store platform. 


The informative list of consumer loans, an overview of reduced interest rate offers, and a financial dictionary that were previously available only on the CBCG website are now integrated into the mCBCG application where users can quickly and easily compare interest rates of all credit institutions in Montenegro and thus make a decision on the most suitable loan in accordance with their personal needs and possibilities.


The application includes information on offers for the eight most common types of consumer loans: all-purpose cash loans, cash loans for pensioners, housing loans, mortgage loans, loans for reconstruction and refurbishment, refinance loans, loans for the purchase of motor vehicles, and educational/student loans. The information available for comparison includes the interest rate, repayment period, type of interest rate (fixed, variable or mixed), and other useful information for users. 


The mCBCG app also contains an overview of loan offers with reduced interest rates, as a result of a recent CBCG initiative accepted by all banks in Montenegro.


The application also contains a financial dictionary that helps users better understand financial terms and concepts.


The CBCG mobile application was developed by the CBCG team with the aim of providing users with the best experience when choosing consumer loans.


The CBCG also wanted to enable a faster and easier comparison of the offer of banking products through this application and thereby contribute to better information of consumers and greater protection of their rights. We expect that greater transparency will spur market competition and lead to adjustments in pricing policy of credit institutions, which will ultimately result in lower costs for users.