OTP Bank

Deposit Collateral

If you need a cash loan and want to secure it with a time deposit, which you keep in our Bank, we offer you a Deposit Loan as Collateral.

 

Benefits

  • The client has the required money in the account
  • It does not lose interest on time deposits
  • Quick approval procedure

Documentation

  • Identification Documents (ID or Passport)

Loan terms

  • Maximum amount: up to 95% of the Deposit used as Collateral.
  • Term: the maximum loan term will be on the same day as the deposit maturity.
  • Interest Rate: The interest rate is variable and is based on the Retail Credit Bulletin.
  • Repayment method: one payment (principal + interest) on the maturity date.
  • Early Payment: the bank accepts partial or total payments before the loan matures based on the applicable Working Conditions.
  • Co-borrower:

If the borrower and the holder of the time deposit are the same persons, no co-borrower is required.

If the deposit offered as collateral is joint-stock, all persons must sign the loan agreement.

If the borrower is not the same as the deposit holder, then the deposit holder will be the guarantor of the loan and will sign the loan contract.

Documentation

  • Identification Documents (ID or Passport)

Loan terms

  • Maximum amount: up to 95% of the Deposit used as Collateral.
  • Term: the maximum loan term will be on the same day as the deposit maturity.
  • Interest Rate: The interest rate is variable and is based on the Retail Credit Bulletin.
  • Repayment method: one payment (principal + interest) on the maturity date.
  • Early Payment: the bank accepts partial or total payments before the loan matures based on the applicable Working Conditions.
  • Co-borrower:

If the borrower and the holder of the time deposit are the same persons, no co-borrower is required.

If the deposit offered as collateral is joint-stock, all persons must sign the loan agreement.

If the borrower is not the same as the deposit holder, then the deposit holder will be the guarantor of the loan and will sign the loan contract.