Personal needs loan and refinancing

The right loan for you from Garanti BBVA

250.000 Lei

Maximum amount and currency

5 years

Maximum lending period

Maximum lending limit and currency: 250,000 Lei
Maximum lending period: 5 years
It is granted for personal needs or for refinancing of consumer loans regardless of the date of granting, with or without additional amount;
The minimum income required is 2000 RON.
Several types of income can be taken into account: salary, dividends, rents, etc.
Type of interest: fixed or variable
Obtaining the loan is conditional on the creation and registration with the RNPM of a mortgage on current accounts and, where applicable, on receivables (dividends, rents)

Maximum lending limit and currency: 250,000 Lei
Maximum lending period: 10 years for loans granted for refinancing the balance of loans contracted before 08.07.2020.
Granted for refinancing the balance of consumer loans, overdraft limits or credit cards contracted before 8 July 2020.
The minimum eligible income must be at least equal to the minimum wage.
Several types of income can be considered: salary, dividends, rent, etc.
Type of interest: fixed or variable.
Obtaining the loan is conditional on the establishment and registration with the RNPM of a mortgage on current accounts and, where applicable, on receivables (dividends, rents).

You enjoy a number of benefits if you apply for a personal needs loan without collateral or refinance through Garanti BBVA:

You benefit from free Credit Repayment Protection Insurance, which covers: involuntary job loss, death, details here

Currency	Interest type*	Reference index	FIXED interest rate*	Variable interest rate		Application Analysis Commission	Monthly management fee
Currency	Interest type*	Reference index	FIXED interest rate*	Margin*	Interest rate (index + margin)**	Application Analysis Commission	Monthly management fee
RON	Fixed	-	8.97%	-	-	250 RON	25 RON
RON	Variable	IRCC3M	-	4.95%	10.85%	250 RON	25 RON

*The fixed interest rates and margins shown are valid if you receive your income in an account at Garanti BBVA

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

***The payment of the analysis commission is excluded for the refinancing balance / balance of personal needs loans without collateral contracted before 08.07.2020 for a period longer than 5 years .

Otherwise, the commission from the list of Interest and credit commissions for Individuals is applicable.

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

The effective annual interest rate (EIR) is 13.20% per year for a General Purpose Loan in amount of 42,000 Lei for a period of 53 months, with repayment in equal installments. The interest rate is 10.85%/ year, variable, consisting of IRCC for 3 months + bank margin 4.95%. Loan analysis fee is 250 lei and the monthly administration fee is 25 lei. Monthly instalment amount is 1.025,94 Lei, and the total payable amount is 54.756,48 Lei.

Details of the cost structure (interest, fees, other charges) here.

Things to consider:

In the case of a variable interest rate loan, there is an interest rate risk. This risk is generated by changes in the reference index that is part of the interest rate, which can increase the interest rate and increase the monthly repayment amount.
Obtaining a loan is conditional on the establishment and registration with the RNPM of a mortgage on current accounts and, where applicable, on receivables (dividends, rents)
Your income may vary. Please make sure that you will be able to pay your monthly installments, even if your income diminishes.
The minimum eligible income must be at least equal to the minimum wage.
Several types of income can be taken into account: salary, dividends, rents, etc.