Among the benefits that this loan provides you are: electrical home appliances, electronic home appliances, furniture, education, health, vacation, etc. The Universal Consumer Loan is valid for all residents in Albania, permanent or temporary employees in companies, sailors, retirees, entrepreneurs (who have been operating for at least one year) as well as for customers with other verifiable income.
Benefits
- Simple and clear process
- Documentation submitted
- Convenience with notarial documents
- Lending in two currencies: ALL, EUR
- If you have a salary in OTP Bank Albania there are more facilities
Documentation
The following documents are required for the principal borrower and the co-borrower:
- Proof of income (from salary, rent, or both)
- Collateral documents.
- The bank reserves the right to request additional documents if it deems necessary
- Collateral received by the bank
- Mortgage of a real estate with coverage of 143% of the loan value
- Deposit with coverage of 110% of the loan value
General conditions
- Maximum amount: up to 50,000 EUR equivalent to ALL.
- Term: up to 20 years.
- Currency: ALL, EURO
- Interest Rate:
ALL: Incomes from Wages/Rent: T.B 12M+2.5% (min 5.5%) Other income: T.B 12M+3% (min. 5.5%)
EUR: Incomes from Wages/Rent: Euribor 12M+ 4.25% (min 6.5%); Other income: Euribor 12M+4.5% (min. 6.5%)
- 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 Working Conditions in force
- Early Payment: the bank accepts partial or total payments before the loan matures. No additional commissions apply
- This loan requires collateral
For more information please download the standardized pre-contractual documentation for Universal Loan here.
Documentation
The following documents are required for the principal borrower and the co-borrower:
- Proof of income (from salary, rent, or both)
- Collateral documents.
- The bank reserves the right to request additional documents if it deems necessary
- Collateral received by the bank
- Mortgage of a real estate with coverage of 1% of the loan value for amounts up to 2,000,000 ALL and coverage in the amount of 200% for amounts over 2,000,001 ALL;
- Deposit with coverage of 110% of the loan value
General conditions
- Maximum amount: up to 7,000,000 ALL.
- Term: up to 10 years.
- Currency: ALL, EURO, USD
- Interest Rate: ALL: up to 7 years B.TH + 3% (min 5.5%); EUR: Lib. + 5% (min 6%); USD: Lib. + 7.5% (min 7.5%)
- Interest Rate: ALL: up to 10 years B.TH + 3.5% (min 6%);
- 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 Working Conditions in force
- Early Payment: the bank accepts partial or total payments before the loan matures. No additional commissions apply
- This loan requires collateral
For more information please download the standardized pre-contractual documentation for Universal Loan here.