Loan amount
From €20,000
Depending on the purpose of the mortgage loan, the percentage that can be financed is:
- Up to 80% of the estimated value of the property
- Up to 90% of the estimated construction cost of the under construction /completion property
Interest rate
The interest rate of the Green Fixed-Rate Mortgage Loan is:
Fixed for the first 2, 3 or 5 years
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Fixed for 2 years
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From 5,30% |
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Fixed for 3 years
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From 5.50% |
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Fixed for 5 years
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From 6.00% |
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Then,
variable rate Then, variable rate based on the
Euribor 1M plus a spread. You receive a discount off the spread depending on the energy class of your home during the floating rate period, as long as the house belongs to one of the following energy efficiency categories: MF, A +, A, B +.
The interest rate margin of the loan is formed after the Bank has evaluated your loan application in accordance with its applicable credit policy, taking into account factors such as the conduct of the loan, the collateral, the amount and the duration of the loan.
Interest rates are also subject to the Law 128/1975 levy. Today it stands at 0.12%.
INDICATIVE EXAMPLE
For a loan amount of € 100,000, repayment period of 20 years, fixed interest rate of 5.30% for 2 years followed by floating interest rate of Euribor 1M (-0.47% on 18/10/2019), plus margin of 3.35% (plus contribution 128/75, 0.12%), Inquiry Cost: 350 €, cost of legal checks: 50 €, cost of technical checks: 130 €:
Total Credit Amount: 100,000 €
Total Credit Cost: 64,610.24 €
Total Amount to be paid: 164,610.24 €
APR: 5.63%
The APR was calculated using the fixed rate for the entire loan duration since the floating rate is lower that the fixed.
The APR and the total amount to be paid are an example and apply only for the abovementioned data.
Loan term
Up to 30 years.
Grace period
We can offer grace periods ranging from 6 to 18 months for loans you take out to build, finish or buy a home being built.
Disbursement
Depends on the loan’s purpose:
- Purchase – immediate disbursement of the amount, lump-sum
- Construction, renovation, completion of works – in instalments based on the progress of works
Repayment
In monthly instalments that repay:
- Interest, capital and premiums
- Premiums only during a grace period
Instalments are paid automatically from your deposit account.
Early repayment option
- Depending on the progress of the interest rates you may have to pay an added cost when repaying your capital early
- During the variable-rate period, you can repay all or part of the sum early at any time at no cost
Collateral
Collateral can either take the form of a mortgage lien on the property or a pledge of cash or securities.
Mandatory insurance coverage
- Fire and Earthquake Insurance for the property for an insured capital equal to the cost of building the property
- Life and permanent total disability insurance for one of the borrowers, for an insured capital equal to the approved loan limit
- Premiums are payable each month along with the loan instalment
Insurance options
The Payment Protection Plan comes as an option. This form of insurance coverage provides compensation for:
- Dismissal or temporary disability due to accident or illness, for full-time, private sector employees with a contract.
- Hospital treatment and temporary disability due to accident or illness for freelance professionals, civil servants and part-time private sector employees with a contract
The compensation guarantees that:
- Your mortgage loan instalments will continue to be paid as normal for a set period
- Your insurance coverage will apply for the remainder of the plan, if you opt to continue it, even though you have fully or partially repaid the loan
