Current situation with mortgage loans in Albania!
With the decrease in the interest rates and in the immovable property prices as well mortgage loans offered by the banks has shown also decline in interest. This situation is making them more and more attractive to clients. Although the construction sector in Albania is not showing good performance indicators, we may say that is booming season in loans offered by banks. Of course the system follows difficulties because of the high NPL ratio, and the difficulty of finding good potential customer but the time is for the lowest rate loan for buying a mortgage.
In order for you to refer more easily please find below the links of the loans, offered by each bank. If you don’t see your bank most probably is not having any information on their website or is not offering an house loan. Please advise us if you think that we should add something. The below list will help you compare mortgage loans among banks and find the best loan for you.
1. Raiffeisen Bank Housing Loan
2. BKT Bank Happy house loan
3. Alpha Bank housing loan with mortgage. [Edit- Ended! But cash collateral loan still applicable]
5. Tirana Bank – The fastetest way to your house
6. Fibank Albania – Housing loan with 3.9%
8. NBG Bank Albania – Housing Loan
1.Raiffeisen Bank Housing Loan
We are pleased to inform you that starting from 21st of May till 15st of July, 2014 Raiffeisen Bank will have a fantastic offer with Fix Interest Rates in EUR for Housing Loans:
“Starting from 5.5% fixed Interest rate for the first 3 years”
On this 10th anniversary, the Bank offers to its customers the opportunity to realize their dreams and goals, taking a mortgage loan with the lowest interest rates in the market
Housing Loan Offer:
- Salary +: 5.50% fix for 3 years
- Non salary customers: 6.00 % fix for 3 years
For the Premium Customers:
Interest Rate offered for the Salary and Non Salary customers is 5.25% fix for 3 years
Raiffeisen Bank is the bank on which you can count for the most important investment of your life.
- Up to 150’000 Euro (equivalent in Lek) / Premium Customers Up to 200’000 Euro (equivalent in Lek)
- We finance up to 74% of the purchased House
- Tenor up to 30 years gives you affordable installments
- The fixed spread rate for the whole mortgage life, gives you security and comfort on managing your cost investment plan of the Mortgage.
- The most competitive Interest rates in the market
Standart Terms and Conditions
Home Purchase Loans in Lek
- SD Customers: TRIBOR + 1.50%
- NSD Customers: TRIBOR + 2.00%
For the Premium Customers:
Interest Rate for the Salary and Non Salary customers is : TRIBOR + 1.25%
Home Purchase Loans in EUR
- SD Customers: EURIBOR + 5.50%
- NSD Customers: EURIBOR + 6.00%
For the Premium Customers
Interest Rate for the Salary and Non Salary customers is : EURIBOR + 5.25%
*SD: All customers that take the salary through Raiffeisen Bank
**NSD: All customers that take the salary through other banks
- Opportunity to buy a home under construction from the most prestigious construction companies
- Over 100 branches where you can make your loan application
Live NOW the life you’ve dreamed about!
For further information, please visit one of our branches or contact us on tel: 00355 4 2381 381 or e-mail: mortgage@raiffeisen.al
2.BKT Bank Happy Home loan
Terms and Conditions
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Interest Rates for Home/ House Construction Loan |
Affluent customers : |
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4% up to 31.12.2015 then T-Bill+1.5% |
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(Not less than 5.1% starting from January 2016) |
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Salary paid customers: |
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4% up to 31.12.2015 then T-Bill + 1.7% |
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(Not less than 5.3% starting from January 2016) |
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Salary paid customers from any bank: |
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4% up to 31.12.2015 then T-Bill + 1.9% |
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(Not less than 5.5% starting from January 2016) |
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Standard retail customers: |
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4% up to 31.12.2015 then T-Bill+2.5% |
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(Not less than 6% starting from January 2016) |
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Loan Maturity |
25 years or 300 months |
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Maximum Loan Amount |
Up to ALL 50,000,000 |
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Coverage Ratio |
As guarantee the bank will ask mortgage of the property to be bought or another real estate can be used as collateral. In any case, the immediate liquidation value will be at least 120% of the accorded loan. |
* The customers may choose to have life insurance premium or to take a higher interest rate of the loan. In case he chooses the latter, options are:
If the customer is up to 45 years old, IR will be 0.5% higher
If the customer is over 45 years old, IR will be 1% higher
** The offer is valid for a loan maturity of 25 years and the applicant may benefit 0% interest rate for the last 4 years
3. Alpha bank – Housing loan secured with mortgage
The best plan for your home!
You all desire to have your own house, but not everyone can achieve this with your funds. The important thing is to find a reliable partner, which makes possible the achievement of your desire by offering preferential terms. The Alpha Plan housing loan is the best plan for your house because it offers favorable interest rates starting from 5.35% for Euro and a repayment period up to 25 years and furthermore you still benefit the interior design of your new house.
Interest rate for standard customers:
• EUR: Euribor 12M + 5%
• USD: Libor 12M + 5.9%
• ALL: AGTB 12M + 3.5%
Interest rate for payroll customers:
• EUR: Euribor 12M + 4.75%
• USD: Libor 12M + 5.75%
• LEK: AGTB 12M + 2.75%
Fees and Penalties:
• 0% disbursement fee for balance transfers from other banks.
• Not applicable prepayment fee.
Examples of monthly installments for each currency EURO, ALL dhe USD
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Currency |
Interest Rate |
Effective Interest Rate |
Approximate Monthly Installments |
|
EUR |
5.6% |
5.78% |
156.19 EUR |
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USD |
6.40% |
6.60% |
168.63 USD |
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ALL |
7.18% |
7.29% |
21.549 ALL |
* The monthly installment is calculated for an amount of 25,000 Euro / USD and 3,000,000 ALL for a repayment period of 25 years.
** The interest rates are revisable on annual basis.
This promo offer will be in force starting from 7 April until 7 August 2014
4. Societe Generale Albania
- Maximum Amount: up to 500,000 Euro (not more than 75% of the investment value)
- Maturity: up to 20 years
- Currency: ALL, EURO, USD
- Interest Rate:
– ALL: TB min 5.5% during the first year; after TB + 2%, min 5.5%
-Euro: fix 5.5% during the first year; after Euribor + 4.5%, min 5.5%
– USD: fix 7.5% during the first year; after Libor + 4.5%, min 7.5% - Payment Method: the principal and the interest will be paid in equal monthly installment
- Penalty: In case of installment payment in Delay, the bank will apply a penalty, only for the unpaid amount, in line with the Terms and Conditions in effect.
- Collateral: the bank accepts as collateral for this loan
– A real estate mortgage with 130% coverage, or
– Cash collateral with 110% coverage. - Other securities:
– A co-borrower is required in any case
– Life and Property Insurance with coverage 110% of the loan.
For more information or to apply for a loan please consult one of our branches all over Albania.
5. Intesa SanPaolo Bank Albania
Housing LoansIt’s time for your own home! With Tirana Bank Mortgage Housing Loans now you can because we offer:
Buy or construct your own house now! This offer is valid from August to October 2014! I. Home Purchase Loan Loan Amount:
Financed limit: Up to 70% of the financed property. Interest Rate:
ALL: Tribor 12m + 2% (min 6%) for Standard Customers ALL: Tribor 12m + 1.8% (min 5.5%) for Payroll Customers EUR: Euribor 12m + 5.5% (min 5.5%) for Standard and Payroll Customers
Loan Duration From 5 – 25 Years Repayment method Monthly instalments (principal+ interest) Collateral: The properties that will be used as collaterals should be always residential houses. Documentation
Bank reserves the right to request additional information if necessary. II. Home Construction Loan Loan Amount:
Financed limit Up to 70% of the constructed home value. Interest Rate:
ALL: Tribor 12m + 2% (min 6%) for Standard Customers ALL: Tribor 12m + 1.8% (min 5.5%) for Payroll Customers EUR: Euribor 12m + 5.5% (min 5.5%) for Standard and Payroll Customers Loan Duration From 5 – 25 Years Repayment method Monthly instalments (principal+ interest) Collateral The properties that will be used as collaterals should be always residential houses. Documentation
Bank reserves the right to request additional information if necessary. Note: Loan for purchase or construction is offered in ALL / EUR currency. III. Home Improvement Loan Individuals aged 18 – 65 (until the maturation) can apply. Amount: Min. 1.000.000 ALL – Max. 10.000.000 ALL Limit of financed: Up to 50% of the collateral value Loan duration: Up to 10 years Collateral: The house that will be reconstructed or another residential house mortgage that meets the criteria. Currency: ALL Interest Rate: 5% fixed for the first year After that Tribor (12M) + 2.5% (Minimum 6.5%) for Standard Customers Tribor (12M) + 2.3% (Minimum 6.5%) for Payroll Customers |
6. Fibank Albania
Mortgage Loan “5 Stars”
WHEN YOU NEED FUNDS NOW BUT WILL BE ABLE TO REPAY EARLIER, USE YOUR PROPERTY AND TAKE A LOAN FROM US!
Mortgage Loan “5 Stars” gives you the advantage to:
Finance every necessity that you may have:
- Buy a new immovable property – apartment, house, shop, land
- Reconstruct an existing immovable property
- Cover unexpected expenses
- Buy a movable property – car, furniture, home appliances
- Refinance an obligation in another financial institution
At the most preferential terms:
- Fixed interest rate for the first year: 3.90% in EUR and 3.90% in ALL
- 0% early repayment fee
- Bonus credit card with a limit 500 EUR or equivalent in ALL
- Unlimited financing
- The longest term in the market
- The lowest monthly installment
- Equal monthly installments for efficient planning of your monthly budget
Parameters of the product:
| Maximum loan amount | No limits |
|---|---|
| Currency | EUR, ALL |
| Maximum tenure | 360 months |
| % of lending | 75% of the market valuation of the property set as collateral |
| Collateral | Real estate property in administrative building or residential building, located in the main cities where FIBANK is present |
| Annual Interest Rate | EUR
ALL
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| Repayment |
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| Bonus | Credit card VISA CLASSIC with a pre-approved limit 500 EUR or equivalent in ALL |
| Loan Application | 30 Eur for a loan below 3 000 000 ALL; 50 Eur for a loan above 3 000 000 ALL, applied when the loan is disbursed |
| Management fee | 1.50% calculated over the amount disbursed only once at the time of disbursement |
| Early repayment Fee | 0%, |
| Renegotiation Fee | 1.50% for changes in collateral, interest rate, term calculated over the outstanding balance at the moment of renegotiation |
| Evaluation Report | Paid by the Borrower |
| Insurance of the property | Paid by the Borrower |
8. NBG Bank Albania
| Housing Loan | ||||||||||||||||||
What is a housing loan? It is a loan given to individuals for purchasing an appartment/house leaving as a collateral the real estate that will be financed and/or another real estate offered by the third parties. Through the mortgage loan you can have finally your dreamed home with very small monthly installments. This loan can be used for purchasing a flat/house for residence purposes. CHOOSE NOW to buy your home! CHOOSE also the monthly installment that suits you with an interest rate from only 4.50% in Lek ! The new offer from mortgage experts in NBG Bank Albania! Product Characteristics:
Security: Mortgage collateral of the property to be purchased or of another real estate property Benefits:
Documentation:
For more information, come to one of our branches to meet with our mortgage experts ! Click here to download the Transparency Form: For additional information and professional advice, please contact the nearest branch of NBG Bank of Albania. |
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