Romanian lender BRD launches 30-year credit with fixed interest rate

Local lender BRD-Groupe Société Générale has launched a housing loan with fixed interest rate for 30 years during the Project Expo fair. The loans in national currency have a 6% nominal interest rate, whereas the loans in euro have a 5.20% interest rate, reports local Ziarul Financiar. Banks have long been hesitating to take on the risk of increasing long-term interests, and left uncertainty to customers. BCR, the largest local bank, launched a housing loan with a fixed interest rate of 6% for the first ten years. BRD offered last year a loan with a fixed interest rate of 4% per year for the loans in euro, for seven years if the customer paid at least 25% of the building. editor@romania-insider.com