A mortgage loan called "Move to a New Apartment" allows you to buy a new apartment or house by exchanging your old one. The main advantage of this product is the simultaneous issuance of two parallel loans: a temporary loan and a primary loan.
- The temporary loan can be approved without an income test and must be repaid with the proceeds from the sale of your old apartment or house within an agreed-upon time period.
- The primary loan is issued based on an income test and follows standard mortgage loan conditions.
This product enables you to purchase real estate from both construction companies and individuals.
Loan Terms
A loan/bank credit of less than 400,000 GEL can be issued only in the national currency (with the exception of the borrower's income and the loan being in the same currency).
In the case of a mortgage loan issued in foreign currency, if the borrower's income is in the currency of the loan, the term of the loan is no more than 15 years.
In the case of a mortgage loan issued in foreign currency, if the income of the borrower and the currency of the loan differ from each other, the term of the loan is no more than 10 years.
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 the currency of the loan differ from each other, the maximum duration of the loan is allowed to be 15 years.
Check the link for registration/termination fee.
The loan is tied to the following indexes:
- GEL - Tbilisi Inter Bank Rate - TIBR 1M
- USD - Term SOFR
- EURO - Euribor
How to Request a Mortgage Loan?
Follow these steps to get your loan via internet bank
Log in to the Internet banking Visit: https://ebanking.ge/login and enter your credentials
Navigate to Offers
Select Loans
Complete the application form Enter the required information in the appropriate fields
You can sign up for loan from our website!
Open the online application pageVisit: www.terabank.ge and click on the online application button.
From the list of online applications, select the desired card application Fill your mobile number
Complete the application form Enter the required information in the appropriate fields.
Contact us:
- Phone: 032 255 00 00
- Email: info@terabank.ge
Calculate Primary Loan Conditions
What type of income is necessary to qualify for a loan?
Salary, allowance, bonus, dividend, lease, allowance or income from tutoring, dentist, barber, babysitter, tailor, and taxi driver and other private activities.
How is the effective rate calculated?
The effective interest rate is calculated taking into account all the necessary financial costs and the period of incurring the cost.
What is the minimum required age of a borrower?
20 years.
Who can be my co-borrower?
It is possible to register a family member as a co-borrower.
What happens in case of an overdue loan payment?
If the loan repayment is overdue, a penalty is charged: GEL 20 GEL/USD 6/EUR 4 - on the first day. Followed by 0.50% of the unpaid amount for each subsequent day overdue (no more than the requirements defined by law).
