Real Estate Loan provide you with the following benefits: Land, Shops and Offices. The loan for real estate is valid for all residents in Albania, permanent or temporary employees in companies, sailors, entrepreneurs (who operate at least one year) as well as for clients with other verifiable income.
Benefits
- Simple and clear process
- Documentation submitted
- Notarial convenience
- Lending in two currencies: ALL and EUR
- If you have a salary in OTP Bank Albania there are more facilities
Documentation required
The following documents are required for the principal borrower and for the co-borrower.
- Statement of income (from salary, rent, or both);
- Identification Documents (ID or Passport);
- Collateral documents.
Other security
- Co-borrower required
- Real estate mortgage with coverage of 143% of the loan value
- Life Insurance at the rate of 100% of the loan and Property Insurance at the rate of 110% of the loan
General conditions
- Maximum amount: Up to 300,000 Euro
- Term: up to 20 years
- Currency: ALL and EURO
- Interest Rates*:
EUR: 2.9% fix for the firs year
LEK: 2.9% fix for the firs year
After
Income from salary/rent
EUR: Euribor 12M + 2.8% (min. 4%)
LEK: T.B 12M +1.8% (min. 4.3%)
Income from business
EUR: Euribor 12M + 3.1% (min. 4.3%)
LEK: T.B 12M +2.1% (min. 4.6%)
Other incomes
EUR: Euribor 12M + 3.8% (min. 5%)
LEK: T.B 12M +2.4% (min. 4.9%)
- Repayment method: principal and interest are paid in equal monthly installments.
- Penalties: in case of delays in the payment of installments, the bank applies a delay penalty, based on the Terms & Conditions in force.
- Early Payment: the bank accepts partial or total payments before the loan matures
* The bank reserves the right to request additional documents if it deems necessary.
Here you can download the pre-contractual information for real estate loan.
Documentation required
The following documents are required for the principal borrower and for the co-borrower.
- Statement of income (from salary, rent, or both);
- Identification Documents (ID or Passport);
- Collateral documents.
Other security
- Co-borrower required
- Life and Property Insurance at the rate of 110% of the loan
General conditions
- Maximum amount: Up to 300,000 Euro
- Term: up to 15 years
- Currency: ALL and EURO
- Interest Rates*:
ALL: 3.5% fixed for the first 2 years; Other years Treasury Bills + 1.50%, Min 4.0%;
ALL: 4% fixed for the first 3 years; Other years Treasury Bills + 1.50%, Min 4.0%;
EUR: 1.9% fixed for the first year; Other years Libor (EUR) + 3.75%, Min 4.0%;
EUR: 2.5% fixed for the first 2 years; Other years Libor (EUR) + 3.75%, Min 4.0%;
EUR: 3.0% fixed for the first 3 years; Other years Libor (EUR) + 3.75%, Min 4.0%;
EUR: 3.75% fixed for the first 5 years; Other years Libor (EUR) + 3.75%, Min 4.0%;
USD: 7.5% fixed for the first year; Other years Libor (USD) + 4.5%, Min 7.5%;
- Repayment method: principal and interest are paid in equal monthly installments.
- Penalties: in case of delays in the payment of installments, the bank applies a delay penalty, based on the Terms & Conditions in force.
- Early Payment: the bank accepts partial or total payments before the loan matures
* The bank reserves the right to request additional documents if it deems necessary.