Garanti BBVA Consumer Finance launches “green” retail loans

Garanti BBVA Consumer Finance, part of Garanti BBVA Group Romania, announced that it launched its first green loan “for individuals planning sustainable acquisitions.”

To encourage sustainable life choices, Garanti BBVA Consumer Finance says it “supports every customer by covering the last two instalments” out of for a maximum of 60 months.

The interest rate (starting from 10.5% interest, 10.67% DAE) reflects the rather loose conditions: the consumer loans are unsecured, with a value of up to RON 400,000 and a maximum period of 60 months (no minimum period specified - which is important because “the bank commits to pay the last 2 instalments of the loan, once the destination is proven”).

The customers can purchase an electric car or bicycle, sustainable home renovation products, solar panels for their houses, environmentally friendly home appliances, or pay the advance for a green house, for example. These are sustainable choices that can produce greater returns, in the long run, the creditor explains.

BBVA Garanti Consumer Finance charges DAE 9.37%, over 1pp less than the “green” loans, for the “Relaxed” consumer loans of roughly similar value and the repayment period.

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