Purpose

• Personal needs
• Refinancing any credit facility , excepting real estate investments loans

Beneficiaries

• Romanian/foreign citizens with or without residence in Romania

Currency

•  Euro, Ron

Loan amount

•   No maximum limit

Advantages

• Loan tenor:
  • Maximum 5 years for new loans
  • Maximum 35 years for refinancing a loan granted before the 31^st of October 2011.
• Maximum age at the end of the loan tenor: 67 years
• Financing up to 70% from the value of the property
• All types of incomes that can be justified with legal documents are taken into consideration
• Debt / income ratio up to 62%
• Any individual can participate as co-debtor
• No analysis fee
• No monthly administration fee 
• No early repayment commission

Annual interest rate

• Variable interest rate based on  Euribor 3 months + bank's margin
  • Euribor 3 months + 6.9%
• DAE: 7.9% calculated for the first year for the amount of 100.000 Euro, 35 years tenor, with equal monthly instalments (Euribor 3 months  = 0.734 from 25.04.2012)  

Costs of the loan

• Analysis fee:  0%
• Monthly administration fee: 0%
• Early repayment commission: 0%
• Current account administration fee: 2.5 Lei
• Unique fee: 40 Euro or equivalent in Lei (for services provided at client's request during loan period)
• Evaluation fee for the mortgaged immovable
• Notary authentication fee for the sales and mortgage contracts
• Noting fee in AEGRM
• Insurance of the mortgaged immovable

Loan reimbursement

• Equal monthly instalments or
• Decreasing monthly instalments

Collaterals

• First rank mortgage on a property belonging to the applicant of the loan or to a third party (immovable located in Romania )
• Movable mortgage on the assignment of the real-estate insurance policy 
• Movable mortgage on the monthly incomes for all the loan participants
• Movable mortgage on current accounts opened at Bank of Cyprus Romania for all the loan participants