Bucharest, 13 February 2024 - OTP Bank Romania introduces a new loan offer for its customers: the fixed-rate mortgage loan, from 5.79% in the first three years, thus improving the range of banking products available and responding to the diverse needs of its customers. This option is a tailored financial solution for those who want stability and predictability in their medium-term budget planning.
OTP Bank's new mortgage offer is distinguished by its competitive fixed interest rate, starting from 5.79% in the first three years, making it one of the most advantageous lending solutions on the market. After the first three years, customers benefit from a fixed margin starting at 2.39% plus IRCC, ensuring access to favourable long-term financial conditions.
Accessing a mortgage loan is simple and customers can apply for financing directly at OTP Bank branches, through OTP Advisors or brokers. After obtaining financial pre-approval, clients are guided step-by-step through the purchase process, from the valuation of the desired property to the signing of contracts, drawing down the loan and making the financial transfer to the seller.
"Whether we're thinking about buying the home we've always wanted or refinancing an existing mortgage, one of the most important steps is finding a financing solution that is flexible enough, but also offers stability and predictability in our lives. We propose a competitive offer on the market, the fixed interest mortgage loan from 5.79% in the first 3 years, to support and simplify making these important decisions. Our team is ready to accompany clients throughout the process with the necessary expertise and experience", said Roxana Hidan, DCEO Business Division, OTP Bank Romania.
The fixed interest rate of 5.79% in the first 3 years and the fixed margin of 2.39% of the variable interest component used after the first 3 years are applicable to clients who receive their income in an account opened with OTP Bank and take out a loan of more than 300,000 lei.
For an average mortgage loan of 337,000 lei contracted for an average period of 285 months, the interest rate is 5.79% per annum, fixed for the first 3 years and variable thereafter, consisting of a fixed margin of 2.39% per annum + IRCC, the APR is 7.88%, the monthly instalment is 2,179 lei (repayment method by equal instalments + interest), the total cost of the loan is 408,321 lei, the total amount paid is 745,321 lei. The cost of the loan includes a file analysis fee of 400 lei and a monthly current account management fee of 5 lei. The loan will be secured by a mortgage on the property purchased until it is repaid in full.
The new offer is available from the beginning of February 2024. More product details, information on how to access the offer and a full list of benefits are available on the dedicated page https://www.otpbank.ro/ro/credit/ml.
OTP Bank reaffirms its commitment to provide innovative and affordable financial solutions tailored to the diverse needs of its customers, while continuing to enhance its range of banking products and services. The new loan offering underlines the bank's dedication to supporting customers in achieving their future plans, offering them financial stability and security.
About OTP Bank Romania
OTP Bank Romania is the subsidiary of OTP Group, a universal bank with a very good presence in Central and Eastern Europe, which offers complete financial solutions, being active in both the retail and corporate segments. After four years of constant and considerable growth in all business lines, OTP Bank Romania is moving towards a process of consolidating its portfolio and operations. With a team that embraces change and capitalizes on its potential, OTP Bank Romania builds a culture of trust at every level of the organization. In Romania, the members of the OTP Group are OTP Bank Romania, OTP Consulting, OTP Leasing, OTP Asset Management, OTP Factoring, OTP Advisors, and the OTP Bank Romania Foundation.
About OTP Group
OTP Group is one of the fastest growing and one of the leading banking groups in the Central and Eastern European region, with outstanding profitability and a stable capital and liquidity position. With more than 41,000 employees in now 12 countries of the CEE and Central Asian region, the Group provides universal financial services to more than 17.5 million customers. As the most active consolidator in the banking sector of the Central and Eastern European region, the Group has successfully acquired and integrated 23 banks since the early 2000s. Currently, the Bank is a market leader in Hungary, Bulgaria, Serbia, Montenegro, and in Slovenia. OTP Group is headquartered in Hungary and has a diversified and transparent ownership structure. The Banking Group has been listed on the Budapest Stock Exchange since 1995.
Contact:
Communication Team
comunicare@otpbank.ro
