Romania's Bancpost makes conversion offer for its clients with CHF loans

Romanian lender Bancpost has launched a new offer for its customers to convert their Swiss franc-denominated mortgage loans to Romanian currency lei. The bank offers a low interest rate of 1.5% per year for the first three years, which would cut the clients’ monthly installments by 30%. After this 3-yar period, customers will have a variable individualized interest rate. The conversion offer will be made at the bank’s exchange rate at the moment of conversion, and will involve no administration fee. The lender is trying to diminish the negative impact related to the Swiss franc evolution, according to Bancpost. Since the beginning of the year, the bank has granted a reduction of 0.8 percentage points of the interest rate for the entire portfolio. editor@romania-insider.com