EUR 1,000 – 200,000 (LEI equivalent)
Maximum reimbursement period
Minimum down payment from
What are the advantages of a Mortgage Loan with OTP Bank?
You do not need an income certificate to apply for Loan if your income information can be verified in the NAFA database.
In order for you to qualify for a larger amount, you can apply with up to 3 co-debtors.
It's convenient. You have a 0% monthly Loan administration fee and a 0 lei file analysis fee.
You have equal or decreasing monthly instalments of the principal and interest.
Loan guarantees are first rank Mortgage on the dwelling and its insurance.
Advantages for OTP Bank clients
Are you our client or the client of our partners? We reward you! The more you choose to use OTP Bank products and services, the lower the interest rate. If you opt for a Mortgage Loan in lei, we offer you the opportunity to control the interest rate applicable to the Loan.
For each of the options below, you get an interest discount:
- Monthly payment of salary to your current account at OTP Bank;
- Monthly POS payment to merchants using OTP debit card;
- Sign the property insurance with Groupama;
- Acquire an OTP Bank product and service package.
What do you have to do to get the Mortgage Loan?
To make things as simple as possible, we have a summary of the steps you need to take in order to apply for a Mortgage Loan. We are at your side at every step and inform you of all the costs needed to be paid, as well as the documents you need in order to meet the eligibility criteria.
The steps we will take together are:
Preliminary discussion: We meet and verify the lending conditions, perform a preliminary calculation and inform you relating to the necessary documents.
Submit your Loan documentation: In our branch you submit the file with the necessary documents for income and property analysis, together with your credit application.
Valuation report: We inform you about financial pre-approval and you pay the valuation fee. Next is the property inspection and prepare the valuation report.
Final approval: The hard part is over when your application is approved, you are invited to the branch to sign the European Standardized Information Sheet. You can already schedule the signing of the contracts with the notary and the real estate seller.
Signing the contracts: Sign the insurance policies of the real estate and sign the Loan, sale-purchase and Mortgage Contracts.
You receive the money: After you submit to the bank the completion of registration and the Real Estate Registry excerpt with the Mortgage in favour of OTP Bank, we will transfer the Loan amount to your account and of the Seller.
How can you access the Mortgage Loan with OTP Bank?
Come to any OTP Bank Branch to discuss the most advantageous and effective way for you to have the house of your dreams.
Before making this step, please review the eligibility criteria and the list of required documents specified below.
How can you apply for the Loan?
Visit our OTP Bank Branch and
let's talk about the most appropriate option.
What guarantees should be provided?
You are one step closer to your dream house. In order to obtain the personal Loan from OTP Bank, the following types of guarantees must be provided:
Superior rank Mortgage on the property set up as guarantee; an inferior rank Mortgage can also be accepted during the Loan period, provided the superior rank Mortgage is still in the favour of OTP Bank Romania SA;
• Mandatory property insurance policy (PAD) and facultative insurance policy, both assigned in favour of OTP Bank Romania S.A. In case the facultative insurance policy is signed with Groupama Insurance, you benefit both from Self-ascertainment and from Emergency repair services. Details on groupama.ro;
Movable Mortgage on all credit balances of current accounts;
Insurance policy against death from any cause (if the case), assigned in favour of OTP Bank Romania S.A.
You are eligible to receive Mortgage Credit from OTP Bank if you meet the following conditions.
You are a natural person having:
Age between 24 and 65 years on the date of full repayment of the Loan, with no mandatory life insurance;
Not more than 70 years on the date of full repayment of the Loan, with mandatory life insurance valid throughout the course of the Loan;
Romanian citizenship and current residence in Romania or abroad;
Foreign citizenship and residence in Romania (you hold a certificate of residence valid at least for the period of the Loan);
Cumulated monthly earnings equivalent to the national minimum wage.
You have an uninterrupted length of service:
of at least 3 months at the current employer;
total of at least 12 months, to one or more employers, without interruption of more than 31 days (if the length of service to the current employer is less than 6 months);
if you own a PFA (registered sole trader), you have at least 12 months of activity.
Mortgage Loan from OTP Bank is also available to clients applying individually or together with up to 3 co-debtors (needed to improve the reimbursement capability).
To obtain the Mortgage Loan, OTP Bank accepts a wide range of incomes:
Incomes from salary;
Income from management contracts;
Monthly pay, indemnities, increments, food allowance and other rights having a continuity nature;
Income from copyright or intellectual property rights;
Income from management or censorship benefits;
Retirement income from Romania / abroad;
Commercial incomes (e.g.: provision of services etc., other than the liberal professions);
Income from life annuities;
Income obtained by navigators based on navigation contracts;
Income from renting properties;
Income from liberal professions.
Income from management contracts;
Salary received by Romanian citizens abroad;
Income from agent/representation/brokerage agreements / civil agreements/conventions;
Incomes from abroad;
Income from fees received besides the salaries;
Income from dividends.
To apply for a Mortgage Loan with OTP Bank, here are the documents you must submit, as both the applicant and the co-debitors:
Identity document (original);
Income consultation agreement from the NAFA database* and / or Income certificate;
Credit application (original, standardized bank form), which includes:
- • Statement regarding payment obligations, third-party litigation and group relationships;
- • CRB consultation agreement;
- • Credit Bureau consultation agreement;
Supporting documents regarding the Loan to be refinanced.
* In the case of clients for whom the reporting of incomes to NAFA is not reported, it is necessary to submit additional documents (e.g. Ministry of Interior, Ministry of National Defence, Romanian Intelligence Service, Gendarmerie etc.).
Documents relating to the property subject to the credit application:
The Mortgaged property is required to be a completed dwelling (registered in the real estate registry).
Documents proving ownership of the property, such as: sale-purchase act, deed of donation etc.
Completion of registration or real estate registry excerpt;
Sale-purchase pre-contract (as the case may be);
Valuation assessment report prepared by the authorized Valuer, member of the National Association of Authorized Valuers in Romania.
OTP Bank reserves the right to request additional documents, on a case-by-case basis.
What else you should know
Before applying for a personal Loan with guarantee from OTP Bank, we want to let you know the following:
- that there is a possibility of modification, in the sense of increase of the amounts due, in the case of the materialization of interest rate risk, where the contracted Loan has variable interest;
- that the fluctuation of own incomes may lead to the possibility of payment being affected.
The types of interest rate available
Interest rate is variable and is changing quarterly considering the consumer credit reference index (IRCC).
Property insurance policies
Mandatory property insurance policy (PAD) and facultative insurance policy can be signed with any authorized insurance company.
Guarantee valuation report
The guarantee valuation report may be prepared by any authorized Valuer, member of the National Association of Authorized Valuers in Romania.
Here is a representative example of the calculation of a Mortgage Loan in lei:
In case of an average loan amount of RON 246.000, for 300 months, interest rate of 5,48% (variable interest rate: fixed margin of 3,12% + IRCC): annual effective interest amounts is 5,66%, the monthly installment is RON 1.508 (repayment method through equal monthly installments), the total cost of the loan is RON 207.816, the paid amount is RON 453.816.
Calculating annual effective interest include the following costs: loan interest rate and the monthly fee for current account management.
The following costs are not known by the lender and, as a consequence, are not included in the DAE:
- notary fees and registration in the land registry fees for the sale / purchase contract;
- Mortgage contract authentication fees;
- the registration fee for Mortgage in AEGRM;
- property valuation fee;
- insurance costs.
They will be charged according to the respective service provider's tariff.
Frequently Asked Questions
What is the minimum income accepted?
For Loan approval, your minimum net monthly salary must be 1,500 lei. If you earn income from multiple employers, it is acceptable to cumulate them as long as at least one of the earnings is the equivalent of the national minimum wage.
Who are the persons authorized to sign the income certificate?
The authorized persons are: General Director, Financial Director, Human Resources Director, Payroll Officer, Accounting Director. It is necessary to complete the exact position of the person having signatory right on the certificate.
As a retiree what credit can I request?
If you are a retiree and your retirement decision is final or reviewable*, depending on your needs and plans, you can apply for personal Loan for retirees, under favourable conditions or, depending on the amount wanted, home equity Loans or Mortgage Loan. You should also take into account the characteristics of the respective Loans, presented on their pages.
* In the case of a periodic review pension, the Loan will be granted only for a period equal to the number of months remaining until the decision expires, observing the minimum duration of the product.
What insurance is required for a Mortgage Loan?
In the case of Loan for the purchase of dwellings, it is necessary to insure the real estate during the entire lending period (facultative insurance policy and mandatory PAD policy).
What are the possibilities for Loan repayment?
To pay your Loan rates, you can either go to OTP Bank branches or make transfers to your current account (where the required amount will be withdrawn at due date). If the Loan is in a currency other than the one in which the current account was opened, the foreign exchange will be automatically made at the due date.
What conditions must a property satisfy to be Mortgaged?
In order to be Mortgaged, the dwelling must meet the following criteria:
- to represent a property for housing: house, villa, apartment;
- to be unencumbered;
- to be included in the civil circulation;
- to be located in the locality;
- not to be damaged, incomplete or in an advanced stage of wear.
What is the cash withdrawal fee from the current account for your Mortgage Loan?
The credit funds granted will be transferred to the seller's account (opened free of charge for him) and the withdrawal fee from the current account of cash for payments coming from Mortgage Loans is set at 0%.
What happens if the utility bill is on another person's name?
The utility bill is required to be able to check the home address that appears on your Identity Card. It is not mandatory for the utility bill to be on the applicant's name. Instead it is also accepted the documents of ownership.
Can family income be taken into account?
Yes, you can apply for a Loan together with another family member. Both applicants must meet the eligibility criteria for the respective Loan.
Which Loans can be refinanced?
You can use the refinancing procedure from OTP Bank if you have a history of at least 6 months with the current Loan and it is:
- personal Loan with / without Mortgage;
- Mortgage Loan for the purchase of dwellings;
- credit card;
- overdraft account.
What do interruptions on the Employment Record Book represent?
Interruptions on the Employment Record Book are the time period you have not had a professional activity. The following are not considered to be interruptions: maternity leave, sick leave, military service, study leave, temporary working disability leave.
Can I get a Mortgage Loan if I am on maternity leave?
Yes, parental allowances are accepted for Loan applications.
If the client receiving income only from parental allowance is not eligible, it is also necessary to bring a main income for personal Loans.
For what period can I apply for a Loan if I have a fixed-term employment contract?
Under these circumstances, you may request a Loan for the maximum remaining period until the expiration of the employment contract, observing the minimum duration set for the respective Loan.
What are the steps to take when I want to get a Loan?
In order to obtain information about our Loans, you must visit any OTP Bank unit or contact the Call Center service at the following telephone number: 0800 88 22 88 (free of charge from any fixed or mobile network in Romania) or at +4021 308 57 10 (also from abroad) from Monday to Friday between 8:30 and 21:00.
In order to know what the maximum amount you can obtain is, ask for an informative budget calculation based on net monthly earnings. If you meet the lending conditions and decide to apply for such Loan, it is necessary to come to any OTP Bank unit with the required documents for the Loan.
The steps for contracting a Loan are:
- performing the preliminary calculation and signing the necessary documents in order to generate the customized offer;
- submitting employee records for case analysis, if applicable;
- submitting documents for the real estate / land and performing its assessment - for Mortgage Loans;
- signing the Loan agreement;
- signing the sale and purchase contracts and the Mortgage (made at the OTP Bank branch) and payment to the real estate / land seller - for the Mortgage Loans.