Romanian Commercial Bank (BCR) reduces, starting Monday January 20, interest on loans in lei. Interest rates for mortgages and unsecured loans were cut by more than 1%. The new interest rates take into account good credit history, bank transactional behavior, seniority and continuity in work of the client. BCR had operated the largest reductions in interest for loans in lei of the market, and over a third of new loans in domestic currency are granted by BCR.
“As the leading bank in the system we want to send a clear positive signal to the market following the recent policy rate changes from the BNR. We are open for business and ready to grant loans. With rates at historically low levels we see an excellent opportunity to support the economy with extremely affordable lending. Our loan offer is amongst the best in the market and I know that no customer will regret choosing us as their lender,” stated Andrew Gerber, Director of BCR Retail Products.
In the case of mortgage loans (My house BCR) with fixed interest for a period of three years, the reduction is one (1) percentage point, reaching the value of 5.
25% per year for customers who receive their salary account at BCR. Also for loans with variable interest the margin will be reduced by 0.4 percentage points, with interest departing from 5.49% per year.
BCR also reduced interest on personal loans Divers BCR - new loans and refinancing from other banks. The new interest on personal loans ranges between 8.6% and 9.9% per year. "We emphasize that the new rates of personal loans in lei will provide access to interest rates below 10% per year for approximately 80% of our clients," said Andrew Gerber.
BCR reduced the cost of loans granted under the First House program, by rising interest bonus to customers who receive salary in their BCR account from 0.2% to 0.5%. Clients eligible from Prima Casa will also see the benefit of significantly lower rates as BCR‘s pricing has followed the steep decline in market rates and now stands at 4.44% / year.
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