Product Description
The loan for the purchase or construction of a shop is a mortgage loan that is offered to individuals who generate income from employment and who wish to buy or build a commercial premise for investment purposes or to self-employed professionals who wish to buy or build their own work premises.Now BKT enables shop loans with financing up to 100% of the investment value!
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
| Terms and Conditions | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Product Type | Shop/Shop Construction Loan | ||||||||
| Financing Criteria Loan Amount/Collateral Open Market Value | 75% | ||||||||
| Interest Rates for ALL Currency | Salary Paid Customers: 3% fixed for the first year then 1 Year Treasury Bill +2% not less than 3% (changing each 12 months) Standard Customers: 3.5% fixed for the first year then 1 Year Treasury Bill +2.5% not less than 3.5% (changing each 12 months) |
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| Interest Rate for EUR Currency | Salary Paid Customers: 3.5% fixed for the first year then 1 Year Euribor +3% not less than 4% (changing each 12 months) Standard Customers: 4% fixed for the first year then 1 Year Euribor +3.5% not less than 4.5% (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 | Up to 25 Years for ALL Currency Up to 25 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 0% Purchase of Loan from other banks (only in cases when the contract of the loan to be purchased contains early repayment commission.) |
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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 Shop/Shop Construction Loan.
Please download the Standardized Precontractual Form.