Product description
The loan for immigrants is a loan created specifically for all of you who live and work abroad to enable you to meet your needs for buying/building a house or shop or for home or shop repairs, but also for self-employed professional individuals (doctor, dentist, pharmacist, lawyer, etc.) who want to buy, build or fix their premises in Albania.
For those immigrants who have decided to have an apartment in Albania, to live temporarily, to help their relatives or simply to have a real estate in the mother country, come and visit our branches in BKT.
Fantastic interest rate and super-fast approval.
General information
Second level banks use as a base interest for the calculation of the loan interest rate formula the 1 Year Treasury Bill rate.
"Treasury bills" - is a negotiable debt instrument with a maturity of up to one year, issued and guaranteed by the Government of the Republic of Albania. Treasury bills are issued in the national currency (Lek) and have maturities of 3, 6 and 12-month. www.bankofalbania.org.
Example:
Treasury bill 1-year interest rate dt. 28.02.2023 is 4.28%
“Euribor” is a reference rate published by the European Institute of Money Markets, based on the average interest rates at which Eurozone banks offer to lend unsecured funds to other banks in the interbank market. https://www.euribor-rates.eu/ecb-refinancing-rate.asp.
Example:
Euribor interest rate dt. 28.02.2023 is 3.68 %
Terms and Conditions
| Product Type | Financing Criteria Loan Amount / Collateral Open Market Value | Interest Rates for ALL Currency | Interest Rate for EUR Currency | ||||
|---|---|---|---|---|---|---|---|
| Home Loan – Type of Collateral offered (Apartment/Land and Building) in the name of the borrower/co-borrower |
80% | 3% fixed for the first year then 1Y T-Bill+ 2% not less than 3% (changing each 12 months) |
3.5% fixed for the first year then Euribor 1 vjecar + 3% not less than 4% (changing each 12 months) | ||||
| Home loan – Collateral different from credit object | 75% | ||||||
| House Construction Loan | 75% | ||||||
| Home loan – Collateral same with the credit object | 81%-100% | The Interest Rate will be 1% higher than the rate that belongs to the customer category as the customer is categorized (Currency ALL and Euro) | |||||
| Shop/Shop Construction Loan | 75% | 3.5% fixed for the first year then 1Y T-Bill+2.5% not less than 3.5% (changing each 12 months) |
4% fixed for the first year then Euribor 1 vjecar +3.5% not less than 4.5% (changing each 12 months) |
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| Home Improvement Loan | 75% | 3.5% fixed for the first year then 1Y T-Bill+2.5% not less than 3.5% (changing each 12 months) |
4% fixed for the first year then Euribor 1 vjecar +3.5% not less than 4.5% (changing each 12 months) |
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| Shop Improvement Loan | 75% | 4% fixed for the first year then 1Y T-Bill+ 3% not less than 4% (changing each 12 months) |
4.5% fixed for the first year then Euribor 1 vjecar + 4% not less than 5% (changing each 12 months) |
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| For collateral type Agricultural Land, the Loan to Value Criteria cannot be higher than 50%. | |||||||
| Loan Term | Maximum loan term for Home/ House Construction Loan and Shop/Shop Construction Loan Up to 25 Years for ALL Currency Up to 25 Years for Euro Currency Maximum loan term for Home Improvement/Shop Improvement Loan Up to 15 Years for ALL Currency Up to 15 Years for Euro Currency |
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| Maximum Loan Amount | Up to 50,000,000 ALL / EUR 400,000 | ||||||
| Loan Disbursement Commission | 1% of loan amount | ||||||
| An important criteria for this customer category is the suretyship of an individual (relative of the applicant? Who lives and works in Albania. | |||||||
If the customer is up to 45 years old, IR will be 0.5% higher.
If the customer is over 45 years old, IR will be 1% higher.
Please download the respective documentation for Emigrant Loan.
Please download the Standardized Precontractual Form.