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When life gives you lemons, make lemonade. Or a delicious tart. So bring your salary to Garanti BBVA and take advantage of the refinancing offer for your loan!

Turn a passing stalemate into an opportunity and choose the refinancing offer of the Personal Needs Loan without real guarantees that falls right into place. Believe in yourself, the greatest wealth is you.

Product features
  • Maximum amount and currency: 115.000 Lei
  • Maximum repayment period: maximum 10 years for the loans granted as refinancing balance/balance and contracted before 08.07.2020.
  • Granted for the refinancing balance/balance of personal needs loan without real guarantees, overdrafts limits or credit cards, contracted before 08.07.2020.
  • 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.
  • Interest rate: fixed or variable
  • Obtaining the loan is subject to establishing and registering to RNPM of pledge on current accounts and, if case, on incomes from dividends or lease agreements

Details about the refinancing offer can be found here.

Your advantages
  • Everything is easier when you refinance through Garanti BBVA! You can enjoy all the benefits of refinancing by managing a single credit contract.
  • Fast and simple approval process, without any income documentation for employees with salaries reported to the local National Agency for Fiscal Administration
  • More than ever, your free included Reimbursement Protection Insurance becomes a safety tool for all your plans, regardless of the period here)
  • In case of cashing your salary through Garanti BBVA, you have a preferential interest rate (see details in the table below):
Currency Interest rate type Reference rate Margin* Interest rate (index + margin)** File analysis fee*** Monthly administration fee EIR
RON Fixed 7.35% 7.35% 0 20 RON 8.69%
RON Variable IRCC 3M 5.10% 6.77% 0 20 RON 8.07%

*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.

***The payment of the analysis commission is excluded for the refinancing balance / balance of personal needs loans without real estate guarantees 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 8.07% year for a General Purpose Loan in amount of 40,000 lei for a period of 84 months, with repayment in equal instalments. The interest rate is 6.77%/ year, variable, consisting of IRCC for 3 months + bank margin 5.10%. Loan analysis fee is 0 lei and the monthly administration fee is 20 lei. Monthly instalment amount is 619.22 lei, and the total payable amount is 52,211.56 lei.

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:
  • Only if you are a retired it is necessary to submit a copy of one of the following utility invoices: home/mobile phone telephony, electric power, natural gas.
  • * during file analysis the bank may request supplementary documents

  • Necessary documents for refinancing loans granted by other banks:
    • A document containing the necessary information about the current account number (IBAN format) in which the loan will be refunded.
    • Refinancing address or credit agreement and all the addendums to the credit agreement, together with the last payment plan, not older than 90 days. We can also use only the payment plan, as long as it contains all the identification elements of the loan (type of loan, granting date, currency of the loan, credit agreement number, customer name, CNP, IBAN repayment account, amount remaining to be reimbursed).

    * 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.