What are the mandatory insurance collaterals for a housing loan?

Mandatory insurance collaterals for a housing loan are as follows: lien (mortgage) on residential real property in favor of the bank real property insurance policy against fire and other hazards linked in favor of the bank statement on confiscation of fund with the consent of the debtor for all participants in the loan promissory note for all participants in the loan.

What are the ways to repay the housing loan?

When contracting a housing loan, you can choose the following: standard annuity repayment – you repay the loan in equal monthly annuities. The amount of the annuity is the same every month during the entire loan repayment term – the principal share increases over time, and the interest share decreases. Flexi annuity repayment (for loans with a minimum repayment term of 15 years) – during the first 5 years, you repay the loan in reduced monthly annuities that you choose yourself. The minimum amount of the Flexi annuity is the sum of the interest and 10% of the principal calculated according to the standard annuity repayment, while the maximum Flexi annuity is equal to the annuity calculated according to the standard annuity repayment. After the expiration of the Flexi repayment period, the remaining outstanding principal of the loan is repaid according to the standard annuity repayment. installment payment – you repay the loan in installments, the amount of which decreases with the time of repayment of the loan. The share of principal in each installment is the same and the share of interest is reduced.

Make a more energy-efficient home happen: GREENKO housing loan

Invest in energy-efficient property and take a step towards a sustainable future. Request a GREENKO housing loan:

Fixed interest rate for the entire repayment period
Without the cost of loan repayment insurance
Without the cost of property appraisal

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Purposes of the GREENKO housing loan

Buying an energy-efficient property

Construction of energy-efficient property

Completion of an energy-efficient property

Energy-efficient properties are those that, based on their energy certificate, meet the following conditions:
a) properties constructed before 1 January 2021:
– energy class of specific annual primary energy A+
b) properties constructed after 1 January 2021:
– the “nZEB” mark and
– the value of specific annual primary energy is at least 10% lower than the threshold set for nearly zero-energy buildings (nZEB) requirements according to national criteria

GREENKO housing loan conditions

Loan amount: 14.000 - 500.000 EUR

Repayment period: 5 - 30 years

FIXED INTEREST RATE: 3,80% (EIR 3,99%)*

*Interest rate with included bonus for clients with regular income and clients in the process of transferring income to RBA.

Additional information in accordance with the Act on Consumer Housing Loans:

The loan is secured by a mortgage on the property. There is no exchange rate risk because loans are contracted in EUR. The interest rate is fixed and there is no risk of the interest rate changing. For the loan, it is mandatory to conclude an agreement on additional services: an agreement on a current/multicurrency current account in order to achieve the status of a primary client, a property insurance policy and, if necessary, a life insurance policy.

GREENKO hosuing loan calculator

EUR Loan amount

months Repayment period

The initially displayed loan calculations of 87,500 EUR with a repayment period of 274 months are representative examples for a housing loan with a standard annuity repayment.

For loans in the amount of up to 25,000.00 EUR, the maximum loan repayment period is 25 years.

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The data in the calculations can be used exclusively for informational purposes and do not bind RBA to provide the banking service. The total amount to be paid and the EIR for the GREENKO housing loan include the average cost for property insurance of 40.00 EUR and the monthly account management fee of 2.00 EUR for clients who direct their regular monthly income to their RBA account, based on which they are eligible for the primary client bonus. The informational calculation is based on the assumption that the loan will be disbursed on the date the calculation is made and that interim interest will be paid until the last day of that month. Interim interest is calculated at the regular interest rate and is charged on a one-time basis upon loan disbursement, deducted from the disbursement amount.

How to get a GREENKO housing loan?

Submission of documentation

Submit the loan application with additional documentation at the branch office.

Basic documentation for the realization of a housing loan:

loan application
copies of identity cards of loan applicants, co-borrowers and insurance providers or pledge debtors
proof of real estate ownership: original extract from the land register, i.e. extract from the book of deposited contracts, not older than 5 days
energy certificate
real estate valuation
real estate insurance policy (apartment/house) bonded in favor of the bank

Real property appraisal

The real property appraisal is ordered on your behalf by a personal banker with an authorized appraiser.

Loan processing and approval

On the basis of the collected documentation and real property appraisal, we make a decision to approve the loan, which can amount to a maximum of 95% of the real property’s estimated value.

Conclusion of the agreement and registration of the mortgage

The banker will let you know when the agreement and all other documents are ready to be signed and solemnized by a notary public. The notarized loan agreement, through a notary office or lawyer, is submitted along with the Proposal for the Registration of a Lien to the competent Municipal Court (land registry).

Loan disbursement

Money disbursement directly to the seller or to your account follows after the receipt of the Decision on Registration of the Mortgage and Contracting of Collateral.

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I have read and understood the privacy policy. I am aware that the bank will process the data specified in this form for the purpose of processing the submitted request, which can also include contacting me with regard to the submitted request.

FAQ

Find answers to the most frequently asked questions.

Creditworthiness is determined according to the bank’s internal acts based on your average income and existing debts. Existing debts refer to the amounts of your financial obligations, such as other loans that are already being repaid, approved overdraft limits on current accounts or credit cards, and obligations as co-borrower, guarantor, etc.

Creditworthiness is determined according to the bank’s internal acts.

You will get the most specific information about the possibility of realizing a housing loan in the branch office, where our employee can make an informative calculation for you. This is exactly why, when it comes to a home loan, we recommend arranging a meeting in the branch office in order to get all the necessary information.

The bank approaches the verification of the submitted documentation for each individual request with due diligence and, by analyzing the data, we make a decision as to whether the stipulated conditions for loan approval are met. The time in which the submitted documentation will be checked and the analyzed data based on which the decision on loan approval is made differs for each individual request. One of the conditions on which the processing time of the request depends is the preparation of the real property valuation report, which is performed by authorized appraisers.

Yes, it is possible to pay off part or all of the housing loan early. For early repayment of part or all of the housing loan, a request for early repayment should be submitted. Regular interest is not paid on the loan amount that is repaid early for the remaining repayment term.

Mandatory insurance collaterals for a housing loan are as follows:

lien (mortgage) on residential real property in favor of the bank
real property insurance policy against fire and other hazards linked in favor of the bank
statement on confiscation of fund with the consent of the debtor for all participants in the loan
promissory note for all participants in the loan.

When contracting a housing loan, you can choose the following:

standard annuity repayment – you repay the loan in equal monthly annuities. The amount of the annuity is the same every month during the entire loan repayment term – the principal share increases over time, and the interest share decreases.
Flexi annuity repayment (for loans with a minimum repayment term of 15 years) – during the first 5 years, you repay the loan in reduced monthly annuities that you choose yourself. The minimum amount of the Flexi annuity is the sum of the interest and 10% of the principal calculated according to the standard annuity repayment, while the maximum Flexi annuity is equal to the annuity calculated according to the standard annuity repayment. After the expiration of the Flexi repayment period, the remaining outstanding principal of the loan is repaid according to the standard annuity repayment.
installment payment – you repay the loan in installments, the amount of which decreases with the time of repayment of the loan. The share of principal in each installment is the same and the share of interest is reduced.