Deposit Secured Loan

 

If you have opened a deposit at Terabank and are in need of some money, you can now get financing without using the deposit amount and not losing any benefits.


Terabank allows you to take advantage of a deposit covered loan and choose the payment method yourself: repay the loan in line with your desired monthly schedule or at the end of the term from the deposit amount.    
 

Deposit Secured Loan

Loan Amount

Min - 250 Units*


Max - Depends on the volume of deposit**

Loan Maturity

Min - Unlimited 


Max - Determined according to the term of deposit

Loan Allocation Fee

0.5%, Min. 20 GEL / 15 USD / 10 EUR

Loan Currency

GEL/ USD/ EUR

Annual Interest Rate

In the case of foreign currency - 4% added to the interest rate of the deposit
In the case of GEL - 4% added to the interest rate of deposit, not less than 12%

Loan Security

The amount placed on a term and cumulative deposit opened in the name of both the borrower and a third party (the amount to be reserved to secure the loan must be equal to the amount of the loan and the interest accrued on it;

To secure the loan, it is possible to reserve the amount available on several deposits;
If the loan amount exceeds 50,000 USD or its equivalent, it is mandatory to register the right to request a deposit in the Public Registry. 

Loan Repayment Terms

At the end / with an annuity (according to the customer's wish)

Early Repayment Penalty

0%

Loan Disbursement Terms

The loan is disbursed in one tranche

Penalty for Overdue

0.2% of the overdue amount for each overdue day

 

*If the currency of the loan corresponds to the currency of the deposit, the amount of the loan and the interest accrued on it should not exceed 95% of the amount of the deposit.

**If the currency of the loan and the currency of the deposit are different, the amount of the loan and the interest accrued on it should not exceed 90% of the amount of the deposit. The conversion must be done at a commercial rate;

Important Information: Loans up to 200,000 (two hundred thousand) GEL can be disbursed in a foreign currency only if the loan is fully secured by funds in the same currency.

 

Application Form

Security Code