Home/Shop Loans

Product description

To the vast of majority of the general public the purchase of a home is the single, largest financial transaction they will ever make. In addition, obtaining a mortgage loan to finance this house purchase is likely one of the most significant financial decisions you will make in your lifetime. But not everybody can afford it so easily, with its own money!

The aim of mortgage loan is to fulfill the personal needs of the individuals, to buy, construct or improve a home. From this product can profit not only individuals but the self-employed professional (doctors, dentist, druggist, lawyers etc) as well that needs to improve the areas where they perform their activity or to buy new ones.

Apply with BKT and you will be able to accomplish your dream of becoming a homeowner like your friends.

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 Condition  
Interest Rates for Home/
House Construction Loan  in Leke Currency
Affluent customers :
1Y T-bill + 1.3 % (changing each 12 months)
(not less than 3.6% after 24 months)
Salary paid customers:
1Y T-bill + 1.5 % (changing each 12 months)
(not less than 3.8% after 24 months)
Salary paid customers from any bank:
1Y T-bill + 1.7 % (changing each 12 months)
(not less than 4% after 24 months)
Standard retail customers:
1Y T-bill + 2.2 % (changing each 12 months)
(not less than 4.5% after 24 months)
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.
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
1.8% 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
1.8% 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 % (changing each 12 months) 
(not less than 5.3% after 24 months)
  For collateral same as credit subject :
  1 Y Euribor + 4.6% (changing each 12 months not less than 4.6%) 
Interest Rates for Shop Loan and Shop Construction in Euro Currency For collateral same as credit subject:
  1 Y 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.
* 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 Home/Shop Loans 
   
Please download Pre contractual Information Form Mortgage Loans Template Document

 APPLY NOW