CEC Bank announces new mortgage terms for loans up to EUR 250,000

Newsroom 06/05/2016 | 13:44

State-owned CEC Bank has joined the ranks of banks deciding to increase their down payment for housing loans following the debt discharge law promulgation. The bank now asks for a 30 percent advance in payment for both RON and EUR denominated loans.

Also, due to higher risks associated with loans connected to mortgages, the applicable interest margin will increase by 1 percentage points for loans in RON and 2 percentage points for loans in foreign currency, representatives say.

“Through these changes, CEC Bank adapts its lending offer new legislative framework, the bank’s decision with a priority to protect the interests of the entire portfolio of clients,” said Radu Gratian Ghetea, president general director of CEC Bank.

This is the seventh bank to modify its terms for housing credits after Raiffeisen Bank, Bancpost, Intesa Sanpaolo Bank, Garanti Bank, BRD and Alpha Bank.

BNR governor Mugur Isarescu stated this is a normal move by the banks that are trying to protect their assets, but it’s rather more of a defensive move than an attack.

Natalia Martian

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Newsroom | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue