The Central Bank of Montenegro (CBCG) has launched the MCBCG mobile application, designed to provide users with convenient access to consumer loan information from all credit institutions in Montenegro.

This application can be downloaded from the Google Play Store, according to Mine reports.

“The app now features an information list of consumer loan offers, an overview of reduced interest rates, and a financial dictionary, enabling users to swiftly compare loan interest rates according to their personal needs and financial situations,” stated a CBCG spokesperson.

The application provides details on typical consumer loan offerings, including personal loans, cash loans for retirees, residential loans, mortgage financing, reconstruction and adaptation loans, refinancing options, vehicle purchases, and education financing.

“Users can compare key data, including interest rates, repayment terms, types of interest (fixed, variable, or combined), and other essential information,” the CBCG representatives added.

Additionally, the MCBCG app features an overview of loan offers with reduced interest rates, a direct result of the recent CBCG initiative embraced by all banks in Montenegro.

The app also includes a financial dictionary that assists users in understanding various financial terms and concepts.

The CBCG mobile app was developed by the CBG team, aiming to provide users with an optimal experience when selecting consumer loans, as noted in their statement.

The CBCG aims to facilitate quicker and easier comparisons of banking products, enhancing consumer information and improving the protection of consumer rights.

“We anticipate that increased transparency will foster market competition and influence pricing policies at credit institutions, ultimately resulting in lower costs for users,” the bank representatives commented.