CEC Bank completes the offer of loans for employees of medical institutions fighting against COVID-19 with loans for personal needs more advantageous than those through "First House": interest in lei of 4.19% per year (IRCC + annual margin of only 1.75 pp ) and administration fee of 0.15% per year.
The offer is addressed to the employees from hospitals fighting against COVID-19 (hospitals offering medical assistance for the sick and support hospitals), according to the Order of the Minister of Health 623/2020 with its subsequent modifications.
Previously, CEC Bank launched an offer for refinancing loans for personal needs in lei, under very advantageous conditions: fixed interest rate of 5.5% per year, the lowest on the market at this time, without other fees, compared to an average interest rate within the banking system of 10.5% for the consumer loans from the portfolio.
In the case of the offer for mortgage loans ddressing to the employees from the hospitals, at a loan of 200,000 lei for 25 years, the monthly rate reaches 1,102 lei. The effective annual interest rate (APR) is 4.43%, compared to the market average of 5.75% for new home loans. Thus, for the entire duration of the loan repayment, the costs with interest and commissions are over 50,000 lei lower than in the case of a loan within the average market conditions.
The maximum value of the loan can be 2.8 million lei, the advance payment is the minimum of 15%, and the repayment period is up to 35 years. The interest is currently 4.44% (IRCC + 2 pp margin) and an annual administration fee of 0.15% is charged, payable monthly. Also, during the repayment period, customers can choose for a grace period of up to 360 days to repay the main installment, during which time only interest will be paid. Upon request, the interest for the first 6 months can be paid quarterly.