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Garanti Bank modifies the minimum down payment for Euro mortgage loans

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2016-04-04 17:28

Garanti Bank, one of the most innovative and dynamic banks on the local market, modifies the lending policy for Euro mortgage loans. As such, the minimum down payment for an Euro mortgage loan becomes 40%, starting this April, said the bank in a statement.

Furthermore, the bank reduces the loan-to-value ratio (LTV), from 75% to 60%, for Euro mortgage loans, as well as for Euro consumer loans with collateral.

The conditions for accessing RON loans, in terms of minimum down payment and loan-to-value ratio, remain unchanged.

“The decision of raising the minimum down payment for Euro mortgage loans is a prudential one, and it is a result of market analysis and estimations. Garanti Bank has a very competitive real estate product and we will continue to stand by our clients’ side and offer them the best financial solutions in both RON and Euro”, stated Ufuk Tandoğan, CEO Garanti Bank.

About Garanti Bank Romania

Garanti Bank Romania is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing (the brand under which the company Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN operates).

Garanti Bank is held by Turkiye Garanti Bankasi AS (TGB), the largest private bank in Turkey in terms of market capitalization. TGB is a universal bank with leading presence in all business lines. The bank serves more than 14 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.

Garanti Bank Romania offers a series of quality products and services for all business segments: retail, SME and corporate, and it is one of the most dynamic and innovative banks on the local market. Present in Romania since 1998, the bank has developed a solid portfolio of clients and expanded its national presence through branches and alternative channels, reaching an extended network of 84 branches and over 300 intelligent ATMs that can be used by anyone, not just bank customers, for transactions with or without cards.

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