Bancherul - BANCI / ENGLISH / OTP Bank Romania joins the fourth phase of the First House program

OTP Bank Romania signed the participation protocol with The National Credit Guarantee Fund for Small and Medium Companies for the fourth phase of the First House governmental program, said the bank in a press release.

OTP Bank Romania can grant loans up to EUR 9,679,093 or the equivalent in RON.

The clients that access the loans benefit from many advantages, like:

The lowest interest rate:

- 5.42% (EURIBOR at 3 months + 4%), DAE 5.56%* for the loans in EUR;

- 8.00% (ROBOR at 3 months + 2,5%), DAE 8.30%** for the loans in RON;

- The guarantee given by FNGCIMM, covers 50% of the loan`s value;

- The maximum refund period is 30 years;

- No granting, monthly loan management or early repayments commissions;

- Free file analysis;

- Up to three co-debtors to improve the refund capacity;

- Up to 57,000 EUR (or RON equivalent), in case of the loans granted for the completed houses or up to 66,500 EUR (or RON equivalent), for the loans granted for new houses, built based on the construction authorizations released after February 2, 2010;

- 5% minimum down payment.

When the loan is required, the beneficiaries have to declare on their own risk that they don`t have exclusively or jointly properties with their husband or wife, no matter how and when it was acquired, either they own exclusively or jointly with their husband or wife no more than one house, acquired in other way than by the First House program, with a surface less that 50 mp2.

„For OTP Bank Romania, the participation to the fourth phase of the First House program represents the continuity of a business spirit that is centered on the costumers’ needs. From the very beginning, we considered this initiative to be worthy of praise by helping the young segment of the population, segment which we will continue to support as well”, László Diósi, CEO OTP Bank Romania.

OTP Bank Romania is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. OTP Bank provides universal financial services in Hungary, Romania, Montenegro, Croatia, Bulgaria, Russia, Ukraine, Slovakia and Serbia, for more than 13 million clients, through almost 1500 branch offices, the ATM network and electronic channels

*For a loan that values 40,000 EUR, with the contract period for 30 years, DAE is 5.56%, the monthly rate is 225.11 EUR, the total amount for loan is 41,110.52 euro, and the total amount paid 81,110.52 euro.

**For a loan that values 150,000 RON, with a contract period for 30 years, DAE is 8.30%, monthly rate is 1,100.65 lei, the total amount for loan is 246,234 lei and the total amount paid is 396.234 lei.