Emigrant Loan

Product description

During those years, immigration has become a social and economic phenomenon of Albanian life. Nothing has affected and helped Albania more than immigration of almost ¼ of population. Still, not all have abandoned Albania definitely.  Many are coming back as they see with optimism the development of Albania.Many others prefer to spend the holidays in home country. For those who have decided to have their own home in Albania, for a temporary stay at their native country, or for just helping their relatives, BKT has the right choice.

Home loan for immigrants is the best and the only offer in the market for this group, with lowest interests, long maturity and the job documents of immigrants get at their country of residence is accepted. Because we are nearer to those who live far away…

General information

The second level banks usually use as a base rate for calculating the interest rate of the loans, Treasury Bills with 1 year maturity.

"Treasury bills" - is a negotiable debt instrument with a maturity of up to one year, issued and guaranteed by the Government of the Republic of Albania.

Treasury bills are issued in the national currency (Lek) and have maturities of 3, 6 and 12-month.

Example:

Treasury bill 1-year interest rate dt. 31.03.2017  is 2.15%

Terms and Conditions      

Interest Rates for Home/ House Construction Loan in Leke Currency

 

1Y T-bill + 2.2 % (changing each 12 months)

(not less than 4% after 24 months)

 

Interest Rates for Home/ House Construction Loan in Euro Currency


For collateral same as credit subject
1 Year Euribor +3.75% (not less than 3.75%) (changing each 12 months) 
Or 
2% for the first 12 months, then 1 Year Euribor +4% (changing each 12 months not less than 4%) 
Or
3% for the first 24 months, then 1 Year Euribor + 4% (changing each 12 months not less than 4%) 
or
4.5% for the first 60 months, then 1 Year Euribor + 3.75% (changing each 12 months not less than 3.75%) 



 


For collateral different from credit subject
1 Year Euribor +4% (changing each 12 months not less than 4%) 
Or
2% for the first 12 months, then 1 Year Euribor + 4.3% (changing each 12 months not less than 4.3%) 
Or 
3% for the first 24 months, then 1 Year Euribor + 4.3% (changing each 12 months not less than 4.3%) 
Or
4.5% for the first 60 months, then 1 Year Euribor + 4% (changing each 12 months not less than 4%)

*The requested loan can be granted in EURO currency only in cases when the value of investment is greater than or equal to 70,000 Euro.

Interest Rates for Shop Loan and Shop Construction in Leke Currency

1Y T-Bill+3% 
(not less than 4.5% after 24 months)

Interest Rates for Shop Loan and Shop Construction in Euro Currency

For collateral same as credit subject
1 Year Euribor +4.6% (changing  each 12 months not less than 4.6%) 
For collateral different from credit subject
1 Year Euribor +4.8% (changing each 12 months not less than 4.8%)

*The requested loan can be granted in EURO currency only in cases when the value of investment is greater than or equal to 70,000 Euro.

Loan Maturity

Up to 25 years or 300 months

Maximum Loan Amount

Up to ALL 50,000,000

Coverage Ratio

As guarantee the bank will ask mortgage of the property to be bought or another real estate can be used as collateral. For collateral same as credit subject
the immediate liquidation value will be at least 110% and open market value 130% of the accorded loan. In the other  cases, the immediate liquidation value should be at least 120% or open market value should be at least 150% 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

 

** If the customer chooses a loan maturity 25 years, he may benefits 0% interest rate for the last 5 years

 

Please download the appropriate documentation of Emigrant Loans

Please download Pre contractual Information Form Mortgage Loans

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