Housing Loan

Finding the house of your dreams is a big deal!

For residential immovable acquisition
Minimum amount 10,000 EUR in Lei equivalent and no maximum amount
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	-	6.09%	5.97%	6.27%	6.15%	2.40%	8.30%	750 RON	75 RON
EUR	Fixed	-	4.95%	5.25%	4.95%	5.25%	3.75%	7.586%	130 EUR	10 EUR
RON	Variable	IRCC 3M**	-	-	-	-	2.40%	8.30%	750 RON	75 RON
EUR	Variable	EURIBOR 6M***	-	-	-	-	3.75%	7.586%	130 EUR	10 EUR

*This Fixed interests and margins are applicable in case you cash in your salary in your Garanti BBVA account.

The interest rate is updated according to the evolution of the reference index for consumer loans as follows:

** The IRCC reference index has a value of 5.90% and is updated every January 1, April 1, July 1 and October 1 for the entire duration of the loan;

*** The EURIBOR 6M reference index has a value of 3.836% 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 9.19%/ year for a housing loan in the amount of Lei 364,000 over a period of 262 months, with repayment in equal monthly instalments. The interest rate is 8.30% / year, variable, consisting of IRCC at 3 months + bank’s margin of 2.40%. Loan analysis fee is 750 lei and monthly administration fee is 75 Ron. Monthly instalment amount is 3.087.72 Lei, and the total amount payable is 820.322.61 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.