Finding the house of your dreams is a big deal!

There is no place on Earth like that home where everything is to your liking. Nothing compares to that happiness and satisfaction. Everybody should enjoy the feeling of having their dream house, so whenever you are ready to make the big step, we are here to help you with our Housing Loan.

Product features
  • 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
  • Minimum eligible income must be at least equal to minimum wage in the economy.
  • 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;
  • Pledge & mortgage contracts will be registered in AERGM and Land book Registry.
  • House Insurance required (see details here)
Your advantages
  • Fast and simple approval process, without any income documentation for employees with salaries reported to the local National Agency for Fiscal Administration
  • You protect your family! You will benefit from a free Life Insurance (see details here)
  • In case of cashing your salary through Garanti BBVA, you have a preferential interest rate (see details in the table below)
Currency Reference rate Margin* Interest rate (index + margin)** File analysis fee Monthly administration fee EIR
RON IRCC 3M 2.67% 5.08% 600 0.02% 5.72%
EUR EURIBOR 6M 4.50% 4.0930% 130 0.02% 4.7519%

*The margin is aplicable 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 the 1st January, 1st April, 1st July and 1st October, applicable 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 5.72%/ year for a housing loan in the amount of Lei 225,000 over a period of 360 months, with repayment in equal monthly instalments. The interest rate is 5.08 % / year, variable, consisting of IRCC at 3 months + bank’s margin of 2.67%. Loan analysis fee is 600 lei and monthly administration fee is 0.02%, applied to loan balance. Monthly instalment amount is 1263.87Lei, and the total amount payable is 460,233.29; * The total amount payable and the APR include costs related to: insurance policies, appraising real estate collateral, registering pledge contracts in AEGRM, commissions for processing payment orders.

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

How to apply

You can visit one of the Garanti BBVA agencies or you can apply here and you will be contacted by one of our colleagues.

Documents required*:

  • Identity card
  • Documents attesting the income from salaries, rents, service provision, freelance activities, dividends, pensions, etc (more details at Garanti BBVA agencies)
  • If your salary is reported to ANAF we only need your approval to check ANAF database, no income statement required in this case;
  • If your salary is not reported to ANAF the following documents are required:
  • * during file analysis the bank may request supplementary documents

Good to know

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.