Romanian bank gives over EUR 165 mln to first-time home buyers
Largest state-owned bank CEC Bank will allocate this year loans worth over EUR 165.4 million through the First House program.
The bank grants the loans in Romanian currency lei, for up to 30 years.
The borrower’s contribution has to be of at least 5% of the house acquisition price. The effective interest rate will be of 3.67% for a EUR 45,000 loan.
Last year, CEC Bank granted over 3,800 loans through the First House program.
The National Credit Guarantee Fund for Small and Medium-Sized Enterprises (FNGCIMM) kicked off the program in February 2015, with the total guarantee ceiling amounting to RON 2.6 billion (EUR 592 mln).
editor@romania-insider.com
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