A proposed law in Serbia seeks to bring significant changes to the banking sector by ensuring better protection for financial service users. One of the key provisions mandates that banks must notify clients of an illegal deficit in their accounts within five days, giving them an opportunity to settle the debt without incurring additional interest.
Dušan Uzelac from the “Kamatica” portal explained that the new regulation will limit the interest rate on illegal deficits to 20%, compared to the often exorbitant rates of up to 30-50% that some banks previously charged.
Dušan Stojković, editor at “Večernje novosti,” added that this law will prevent banks from exploiting legal loopholes that allowed for such high interest rates. He noted that Serbia’s interest rates had been higher than those in Europe, but the new legislation would provide better protection for citizens.
Additionally, consumers will be able to lodge complaints with the National Bank of Serbia in case of irregularities, ensuring their rights are upheld.
Experts also warned about the increasing prevalence of fraud involving dubious online loan platforms, urging clients to research companies thoroughly before engaging in any agreements.
The new law is expected to be adopted soon, aiming for more transparency in banking operations and improved consumer protection.
