loan for private tutors

Loan for Private Tutors from terabank

If you are a private tutor and are looking to obtain a loan, terabank is offering you a new product that has been designed for you specifically.
Disbursement of loans for private tutors has been simplified and virtually any private tutor is welcome to take advantage of the product. It does not matter whether or not a person is employed at an educational institution as the loan is disbursed based on additional income from private students, rather than salary only. Apart from the simplified terms of the service, you may also obtain larger loans.
The new product terms allow transferring your loan from other banks as well.

terms- Consumer loan without security

Loan amount

min -  GEL500


max - GEL 30 000

Loan maturity

min - 3 months


max - 36 months

Loan currency GEL
Loan repayment rate

equal monthly installments

collateral

not required

Annual interest rate

From 12.50%.

Effective interest rate 

From 22.40%.

Fee for retrieving information in the Credit Info database 

GEL 18
Loan Issuance Fee

2.9% (min. 20 GEL)

 

Guarantee fee *

From 500 - up to 5,000 GEL on loans - fixed 3 GEL per month

From 5,000 - 20,000 GEL including loans - fixed 5 GEL per month.

Withdrawal fee 

0.20% min. 0.50 GEL

*Guarantee fee is activated only on loans from 500 GEL to 20,000 GEL which have neither a co-borrower nor a guarantor. 

 

Secured consumer loan terms

Loan amount

min -  GEL 1000


max - GEL 100 000

Loan maturity

min - 6 months


max - 84 months

Loan currency GEL
Loan repayment rate eqaul monthly installments  
collateral

Purchase of real estate

Annual interest rate 

Refinancing rate from + 6.20%

Effective interest rate 

From 19.00%

Fee for retrieving information in the Credit Info database 

18 GEL

Loan Fee

2% (min. 50 GEL)

Withdrawal Fee

0.20% min. 0.50 GEL

See the registration / termination fee at the link

 

Mortgage loan terms

Loan amount

min - GEL 1000


max - GEL 200 000*

Loan maturity

min - 6 months


max in GEL - 180 months;

USD, EURO - 120 months**

Loan currency GEL, USD, EURO
Loan repayment rate equal monthly installments
collateral

purchase of real estate

 

Annual interest rate 

 

 

GEL: refinancing rate + from 4.20% 

USD: from 7.40% (variable rate tied to Libor) 

EUR: from 6.40% (variable rate tied to Euribor).

 

Effective interest rate 

 

 

GEL - from 16.20% 

USD - from 8.70%

EUR - from 7.60%

Fee for finding information in the Credit Info database 

18 GEL/6 USD/6 EUR

Loan Issuance Fee

0.9% (min. 50 GEL)

Withdrawal Fee

GEL - 0.20% min. 0.50 GEL 

USD/EUR - 0.50% min. 1 GEL (in the respective currency)

*Less than 200,000 GEL (in equivalent currency) will be issued in GEL only.

**In case of a mortgage loan issued in a foreign currency, if the borrower's income is in the currency of the loan - not more than 15 years.

In the case of a mortgage loan issued in a foreign currency, if the income of the borrower and the currency of the loan differ from each other - not more than 10 years.

See the registration / termination fee at the link

When refinancing a mortgage loan issued in a foreign currency from January 1, 2019 to January 1, 2022, if the loan is issued in a foreign currency and the borrower's income and loan currency differ, the maximum loan term is allowed to be 15 years.

 

Application Form

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