Personal Loan

Personal Loan

Find out how easy is to make you dream come true. After thousands of calculations and thrift, you have finally discovered the loan that will help you accomplish your dream in a relaxed way.

Creditable amount

1.000 – 100.000 lei

Repayment period

6 – 60 months

Fixed interest starting from

8.69% up to 13.64%

What are the advantages of a personal loan without mortgage?

  • It is simple and advantageous to get the Loan. No advance, no guarantor.
  • You do not need an income certificate to apply for a loan if the earnings can be verified in the National Agency for Fiscal Administration database.

  • You have a 0 lei analysis fee if you already own the Lending package / modular structure with the Lending option / Lezero package or a 200 lei fee without the Lending package / modular structure with Lending option / Lezero package.

  • You have 0% monthly fee for Loan administration.
  • For granting the Loan, OTP Bank accepts a wide range of incomes.
  • You can borrow any amount between 1.000 and 100.000 lei.

  • The repayment period is between 6 months and 60 months (5 years).
  • For a safer future, you can also opt for the Payment Protection Insurance (PPI) with single insurance premium or with monthly insurance premium, that you can attach to your Personal Loan.

How can you access the Personal Loan?

Are you over 23 years old? Come to any OTP Bank branch in your town to discuss the most advantageous option for you. At the final maturity date of the chosen Loan, the maximum age should not exceed 65 years (inclusive).

How can you apply for the loan?

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contact you in the shortest possible time.

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Also choose the Payment Protection Insurance (PPI)

For a safer future and financial stability, OTP Bank offers you the opportunity to attach a Payment Protection Insurance (PPI) to the Personal Loan, with the following options:

  • Payment Protection Insurance (PPI) with single insurance premium: 0.07%/month * no. of months for which the loan is granted; applies to the value of the loan.

  • Payment Protection Insurance (PPI) with monthly insurance premium: 0.10%/month; applies to the value of the loan.

The validity of the policy starts from the moment you receive the Loan, respectively from the signing of the Loan agreement and the insurance certificate, and ends with the final maturity of the Loan.

The single insurance premium is fully paid by the client at the time the Loan is withdrawn.

The monthly insurance premium is paid monthly, with the loan installment.

The risks covered by insurance are different, depending on the socio-professional category to which the client belongs (Employees, Freelancers or Retirees):

Eligibility criteria

You are eligible to obtain OTP Bank Personal Loan if you meet the conditions below.

  • You are a natural person:

  • a Romanian citizen with domicile in Romania,

  • foreign citizen with residence and domicile in Romania (you hold a certificate of residence valid at least for the period of the loan).

  • You have an uninterrupted length of service:

  • of at least 3 months at the current employer;

  • more than 31 days in the last 12 months, if the length of service of the current employer is less than 6 months;

  • if you own a PFA (registered sole trader), you have at least 12 months of activity.

Personal Loan from OTP Bank is available to customers applying individually or together with a co-debtor (needed to improve reimbursement capability). We invite you to read below the additional conditions for the co-debtor.

Incomes accepted

In order to obtain your Personal Loan, OTP Bank accepts a wide range of incomes:

Main incomes:

  • Incomes from salary;

  • Monthly pay, indemnities, increments, food allowance and other rights having a continuity nature;

  • Income from management contracts;

  • 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 liberal professions.

Secondary incomes:

  • Parental allowances;

  • Food vouchers;

  • Salary received by Romanian citizens abroad;

  • Income obtained by navigators based on navigation contracts;

  • Income from management contracts;

  • Income from fees received besides the salaries.

Additional conditions for the co-debtor

If you apply together with a co-debtor for a Personal Loan, the loan repayment capability is improved. That is why we are informing you regarding the additional conditions that a co-debtor must fulfil.

First of all, he / she must have the same domicile as the main applicant. This can be proven either by the identity document or by a sworn statement regarding the joint household.

Secondly, he must provide the following documents upon request of the loan:

  • Identity document (original);

  • Residence certificate (original - if applicable);

  • Loan application (original, standardized bank form);

  • Statement regarding payment obligations, third party litigation and group relationships (original, standardized bank form);

  • CRB consultation agreement (original, standardized bank form);

  • Credit Bureau consultation agreement (original, standardized bank form);

  • Utility bill from home address or documents attesting ownership (copy);

  • Income Consultation Agreement from National Agency for Fiscal Administration database* and / or Income Statement in OTP Bank format or supporting documents for earned incomes.

  • * 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.).

OTP Bank reserves the right to request additional documents, on a case-by-case basis.

Frequently Asked Questions

For Loan approval, your minimum net monthly salary must be 1,346 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.

The authorized persons are: General Director, Financial Director, Human Resources Director, Payroll Officer, Accounting Director. It is necessary to complete on the income certificate the exact position of the person having signatory right on the certificate.

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.

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).

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.

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.

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%.

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.

Yes, you can apply for a Loan together with another family member. Both applicants must meet the eligibility criteria for the respective Loan.

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.

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.

Yes, you can apply for a loan if you obtain parental allowances. According to the type of product for which you apply, the Bank can request the presence of a co-debtor.

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.

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 contract and for the Mortgage Loans and the sale and purchase contracts (made at the OTP Bank branch) and payment to the real estate / land seller.