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 loan amount
1.000 – 150.000 lei
Discount for the interest rate of 1 procentage point
Fix interest rate*
from 6,75% to 19,99%
*The interest rate is customized for each customer depending on the amount of the loan, the option to collect income through OTP Bank, refinancing loans from other banks, factors associated with the ability to repay the loan such as the credit history of the applicant and other elements used in the analysis of the credit application.
The interest rate of 6,75% is the minimum interest that already includes the discount applied for the option of income transfer (1 percentage point), the refinance of loans from other banks (1 percentage point) for the requested amount greater than 120,000 lei.
Characteristics and benefits of the personal needs loan
The loan amount that can be borrowed is between 1.000 and 150.000 lei.
The reimbursement period of the personal needs loan is between 6 and 60 months.
You can refinance through the loan granted from OTP Bank one or more loan facilities ongoing in the present. See the refinancing offer.
You can bring one codebtor.
For granting the loan, OTP Bank accepts a wide range of incomes.
You can apply for a loan without income statement in case your incomes can be verified in the NAFA (National Agency for Fiscal Administration) data base.
You can also choose a Payment Protection Insurance, from Groupama, with single premium or monthly premium, which can be attached to the Personal Needs Loan in order to have protection you and your family in case of unpredictable situations.
Which are the costs for personal needs loan without mortgage?
Fix interest rate
Interest rate is between 6,75% and 19,99% yearly
The interest rate remains FIXED and is customized for each customer depending on the amount of the loan, the option to collect income through OTP Bank, refinancing loans from other banks, factors associated with the ability to repay the loan such as the credit history of the applicant and other elements used in the analysis of the credit application.
The interest rate of 6,75% is the minimum interest that already includes the discount applied for the option of income transfer (1 percentage point), the refinance of loans from other banks (1 percentage point) for the requested amount greater than 120,000 lei. See the detailed list of interest rates here.
Commissions
- 200 lei analysis commission in case the loan was approved.
- 5 lei commission for administration of the current account.
- 0% monthly administration commission for the loan
- 0,5% early repayment commission from the outstanding for fixed interest loans, if the remaining loan period is less than 1 year. In the situation where the remaining loan period is higher than 1 year, the commission is 1%.
Insurance premium (optional)
In case you have chosen together with the loan facility, to conclude also a Payment Protection Insurance offered by Groupama and valid for the entire period of the loan, you can opt for one of the following payment methods:
- Single premium (paid in one tranche at the moment of granting the loan) is: 0,07% * tenor of the loan * value of the loan.
- Monthly premium (paid monthly together with the annuity of the loan) is: 0,10%/month, applied to the granted value of the loan.
Taxes perceived by third parties
For the movable guarantees registration, there will be tax charged by the National Register of Securities Advertising.
How can you access the Personal Needs Loan?
Come to any OTP Bank branch from your town to discuss the most advantageous option for you. First of all, you have to consider some eligibility criteria:
- To be more than 23 years old at the moment of the loan request, but not more than 65 years old at the maturity of the loan;
- To be a Romanian citizen with domicile/residence in Romania or a foreign citizen with residence in Romania;
- To have a working seniority as employee of:
- Minimum 3 month to the current employer and 12 months total working seniority without any interruption or
- Minimum 6 months working experience at the current employer
For any other type of income, the working experience will be communicated in the branch and it depends on the type of income presented.
How can you apply for the loan?
Ask for details
Leave us your details and we will contact you soon!
Or call 021 308 00 89.
Visit Us
Visit our OTP Bank Branch
with your identity card in original.
Personal needs loan calculator
Make a simulation and calculate your monthly installment
Details for Payment Protection Insurance (PPI)
Choose also Payment Protection Insurance
For a safer future and financial stability, OTP Bank offers you the opportunity to attach a Payment Protection Insurance (PPI) to the Personal Needs Loan, with the following options:
- Payment Protection Insurance (PPI) with single insurance premium: 0.07%/ * tenor of the loan* loan amount.
- Payment Protection Insurance (PPI) with monthly insurance premium: 0.10%/month; applies to the granted 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):
|
DEATH FROM DISEASE AND ACCIDENT |
PERMANENT TOTAL DISABILITY |
INVOLUNTARY UNEMPLOYMENT |
TEMPORARY INCAPACITY TO WORK |
Employees |
X |
X |
X |
|
Freelancers |
X |
X |
|
X |
Retirees |
X |
|
|
|
Which are the incomes accepted for Personal Needs Loan?
In order to obtain your Personal Loan, OTP Bank accepts a wide range of incomes:
Incomes
In order to obtain you Personal Loan, OTP Bank accepts a wide range of incomes, as follows:
Main incomes:
- Incomes from salary;
- Monthly pay, indemnities, increments, food allowance and other rights having a continuity nature;
- Income from management contracts;
- Income from copyrights or intellectual property rights;
- Income from management or cendorship benefits;
- Pension from Romania/abroad;
- Commercial incomes (eg: 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 sailors based on navigation contracts;
- Income from management contracts;
*Secondary incomes can be accepted only in addition to a main income.
Necessary documents:
In order to apply for a Personal Needs Loan at OTP Bank both you as applicant and the co-debtor will present to the bank:
In order to apply for a Personal Needs Loan at OTP Bank both you as applicant and the co-debtor will present to the bank:
- Identity document (original);
Documents provided by the Bank to be signed in front of the sales representative:
- Consultation agreement to National Agency for Fiscal Administration database (will be signed in front of the sales representative). In case the income is not declared to National Agency for Fiscal Administration database, it can be presented Income Statement or other justifying documents with income received;
- Notification regarding the processing of personal data in Credit Bureau database;
- Consultation agreement for Credit Risks Central (CRC);
- Loan application which will include socio-demographic information, financial information and declarations regarding payment obligations, third party litigation and group relationships;
- Justifying documents regarding the loan which will be refinanced (if case may be). It can be accepted the following documents:
- Loan contract and any addedums to the loan contract which will be refinanced and document which provides loan outstanding (eg. Loan account statement issued by the initial lender in which it can be identified the loan outstanding to be refinanced);
- Loan account statement (including electronic format) issued by the initial lender in which it can be identified the loan outstanding to be refinanced;
- or Repayment Schedule for the loan to be refinanced signed by the initial lender;
- or Adress from the initial lender/ lesor/developer.
Representative calculation example
Personal Loan |
With income collection through OTP and refinancing from other banks |
With income collection through OTP without refinancing from other banks |
Loan amount |
125 000 lei |
125 000 lei |
Credit duration / Number of installments |
60 months / installments |
60 months / installments |
Interest rate |
6,75% |
7,75% |
Interest rate type |
Fixed |
Fixed |
Loan analysis commission |
200 lei |
200 lei |
Monthly current account administration fee |
5 lei |
5 lei |
Monthly installment |
2 460 lei |
2 520 lei |
The total cost of the loan |
23 126 lei |
26 677 lei |
Total payment a mount |
148 126 lei |
151 677 lei |
APR |
7,12% |
8,19% |
Frequently Asked Questions
What is the minimum accepted income?
Your monthly net salary shal be of minimum 2.079 lei. If you earn income from multiple employers, it is possible to cumulate them as long as one of the earnings is the equivalent of the nationam minimum income salary.
What are the possibilities for Loan repayment?
The loan repayment can be realized through equal installments or decreasing installments, based on your given option.
How can I pay the monthly installment?
In order to pay the installments for your loan you can either come to OTP Bank branches, or to make a transfer in your current account (from where the installment will be withdraw at due date).
Can I choose the repayment date?
Sure, you decide the day you want to repay the installments and also the insurance premium, in case you chose Payment Protection Insurance (PPI) offered by OTP and Groupama. You can also modify it afterwards in case of need.
Which is the difference between Annual Procentage Rate (APR) and Fix Interst rate?
Annual Procentage Rate (APR), represents the total cost of the loan (annual interest, commissions and other costs associated to the loan) and is expressed as an annual procentage from the total value of the loan granted.
Fix Interest – represents the cost of the loan, the value which must be payed for the utilisation of an amount of money for a certain period. It is expressed as an annual procentage and remains unchanged during the lifetime of the loan.
Can I repay the loan in advance?
Yes, you can repay the loan in advance, and the early repayment can be total or partial and will have a commission applied, as follows:
- for loans with variable interest: 0%
- for loans with fixed interest: 1% or 0.5% for the last contractual year.
In order to repay the loan total or partial in advance, we are waiting for you with your identity document in the nearest OTP Bank Romania branch to do the related operations.
Which income is declared to the National Agency for Fiscal Administration?
Income realised from salaries and pensions for which there is a legal obligation for declaration of them to fiscal authorities (NAFA). For other types of incomes it is neccesary to present income documentation.
How long it takes to get the money?
- After loan contract signing – in case you choose to contract the loan in a branch (except in case you have refinancing option).
Can family income can be considered?
Yes, you can apply for a loan together with a family member (which will be co-debtor in the loan contract). Both of you must fulfill the eligibility criteria for the loan.
Which loans can be refinanced?
You can apply for the refinancing of the following loan types which must have at least 3 months seniority:
- Personal loan with/without mortgage;
- Mortgage loan for acquisition of dwellings;
- Credit card;
- overdraft.
What do labour interruptions represent?
Labour interruptions are the time period when 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 apply for a loan if I am on maternity leave?
Yes, you can apply for a loan if you obtain parental allowance incomes. The condition is to apply with a co-debtor who has at least one main income.
For what period can I apply for a loan if I have a fixed term employment contract?
You can apply for the maximum tenor of the loan in case yout contract is concluded for at least 1 year period and has been renewed or it has an automatic prolongation clause. On the contrary, you can apply for a loan for the maximum remaining period until the expiration of the labour contract, observing the minimum duration set for the respective loan.
What are the steps to be taken when I want to get a loan?
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). The program is from Monday to Friday between 8:30 and 21:00.
Ask for an informative budget calculation based on net monthly earnings and find out the maximum loan amount you can grant. 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, presentation of the customized offer and signing the necessary documents in order to generate the customized offer;
- submitting the loan request and in case the income can not be verified in NAFA data base, the income documents for the analysis of the loan;
- signing the loan contract and the movable mortgage contract, in case of loan approval.
What guarantees I have to bring for a Personal Needs Loan?
OTP will register movable mortgage on our banking accounts at National Registry for Mobile Advertising (NRMA).
Payment Protection Insurance (PPI), in case you have chosen at application moment, the personal needs loan with insurance.