Bancherul - BANCI / ENGLISH / Millennium Bank launches new Mortgage Loan with decreased costs

Millennium Bank launches new Mortgage Loan, with lower costs for customers, including margins starting from 5% plus 3 month Euribor/Robor. The margin value depends on the down payment percentage and the clients’ option to transfer their income to the bank. The interest rates are variable and clients benefit from free life insurance, zero administration and zero early repayment fees. In addition, Millennium Bank charges 0% analysis fee the clients who choose the Mortgage Loan in order to refinance another mortgage loan until the end of 2010.

The new Mortgage Loan advertising campaign stars Holograf and it is the second collaboration between the bank and the music band to promote the product. Clients who come to Millennium Bank for a Mortgage Loan simulation receive a free Holograf CD – limited edition.
“The new Mortgage Loan is adjusted to the present market conditions and designed to answer different client profiles. Customers can choose either a minimum down payment, of 20%, or a lower interest rate, according to their needs”, Eliza Erhan, Head of Retail Product Development with Millennium Bank, stated. “These new features of the loan support our strategy of providing one of the most accessible mortgage loans on the market”, Eliza Erhan added.

Millennium Bank’s Mortgage Loan has a 30 years tenor and the financing can reach up to 80% of the purchased house’s value.
The promotion campaign for the new Mortgage Loan will be developed on TV, print, online, outdoor and indoor media.

Millennium Bank, part of the leading financial private group in Portugal, Millennium bcp, started its activity on the Romanian market on October 11, 2007, by simultaneously opening 39 branches in Bucharest and in other eight cities of the country. Now, Millennium bank has 74 units throughout Romania, addressing individuals and companies, with an extensive range of products.

Millennium bcp is a success story in European banking. Founded in 1985, Millennium bcp registered, at the end of June 2010, total assets of approximately EUR 99 billion. Millennium is Portugal's leading private financial group and is included in key national and international stock market indices, in particular the Euronext PSI Financial Services, PSI-20, DJ Eurostoxx banks, Bebanks and Euronext 100, of the Lisbon, Paris, Brussels and Amsterdam Stock Exchanges.

Millennium bcp has a network of approximately 1,800 units, with a total of more than 21,000 employees.
Millennium bcp provides a wide range of products and services, namely savings, investment, mortgage loans, consumer credit, commercial banking, leasing, factoring, insurance, investment banking, private banking and asset management, serving its customers on a segmented basis. Emphasis is given to the Internet Banking service, which has been distinguished in Europe for its quality and innovation. Since its incorporation, Millennium bcp has been renowned for its dynamism, innovation, competitiveness, profitability and financial strength. It has made its mark as the top leader in several financial business areas on the domestic market and as reference in the distribution of financial products and services on an international level. Millennium bcp is present in Portugal, Poland, Greece, Romania, Mozambique and Angola. All operations are carried out under the Millennium brand.

Millennium bcp's focus is on the creation of value in markets selected on the basis of a controlled risk profile and high growth potential, to sustain its internationally-recognized service excellence and innovation in financial products.