Eco House Loan

We’re here to introduce you the new Casa Eco loan

Eco House loan is granted for residential immovable acquisition certified by Romania Green Building Council.
Minimum amount 10,000 EUR in Lei equivalent and no maximum amount.
Loan currency: RON
Maximum repayment period: 30 years
Advance payment: starting from 15% for loans in Lei
The minimum income required is 2000 RON.
Various types of income taken into consideration: salary, dividends, rent, etc.
Obtaining the loan is subject to:

Establishing a rank I mortgage on the real estate acquired;
Establishing a pledge contract on current accounts and, if case, on incomes from dividends, rent agreements;
Contracting a compulsory insurance policy PAD and a voluntary insurance policy for the real estate mortgage collateral;
Contracting a life insurance policy;

House Insurance required (see details here)

You protect your family! You will benefit from a free Life Insurance (see details here)

Currency	Interest type*	Reference index	Fixed interest rate 3 years*		Fixed interest rate 5 years*		Variable interest rate		File analysis comission	Monthly management fee
Currency	Interest type*	Reference index	with life insurance	without life insurance	with life insurance	with life insurance	Margin*	Interest rate (index + margin)**	File analysis comission	Monthly management fee
RON	Fixed	-	5.61%	5.49%	5.82%	5.70%	2.25%	7.80%	750 RON	75 RON
EUR	Fixed	-	4.77%	4.65%	5.22%	5.10%	3.60%	7.185%	150 EUR	15 EUR
RON	Variable	IRCC 3M**	-	-	-	-	2.25%	7.80%	750 RON	75 RON
EUR	Variable	EURIBOR 6M***	-	-	-	-	3.60%	7.185%	150 EUR	15 EUR

*The margin is applicable in case you cash in your salary in your Garanti BBVA account.

**The variable interest rate is updated quarterly, depending on the evolution of the index for consumer loans: on 1st January, 1st April, 1st July and 1st October, applicable for the entire duration of the loan.

The value of IRCC 3M on October 1, 2024 is 5.55%.

*** The EURIBOR 6M reference index has a value of 2.593% and is updated every February 1st and August 1st for the entire duration of the loan.

Example of calculation in case you cash in your salary in your Garanti BBVA account:

The effective annual interest rate (EIR) is 8.88%/ year for a housing loan in the amount of Lei 225,000 RON over a period of 360 months, with repayment in equal monthly instalments. The interest rate is 7.80 %/ year, variable, consisting of IRCC at 3 months + bank’s margin of 2.25%. Loan analysis fee is 750 Lei and monthly administration fee is 75 ron, applied to loan balance. Monthly instalment amount is 1694.71 Lei, and the total amount payable is 622,666.85 Lei .* The total amount payable and the APR include costs related to: insurance policies, appraising real estate collateral, registering pledge contracts in RNPM, commissions for processing payment orders.

Details about the structure of costs (interest, fees, other taxes) here.

Issues that need to be taken into account when contracting a loan:

Your revenues may vary. Please make sure that you can pay the monthly instalments, even if your revenues will decrease.
In case of loans with variable interest rate there is an interest rate risk. This risk is generated by the variation mentioned in the reference indexes as a component of the interest rate, which can raise the interest rate and increase the monthly instalment.
In case of loans in foreign currency there is a currency risk. This risk is generated by the possibility of depreciation of the national currency against the loan currency.

For more detail information related to Consumer Loan with Mortage please check this guide. For more information about Green Homes certified project click this link.