"Move to a New Apartment" Mortgage Loan

Take advantage of Terabank's special product and buy new apartment in exchang of the old one.

  • Term in GEL: up to 240 months
  • Term in foreign currencies: up to 120 months
  • Currency: GEL, USD, EUR

"Move to a New Apartment" Mortgage Loan

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

Min Loan Amount   GEL 1 000
Max Loan Amount   Determined individually
Term in GEL   6 to 240 months
Terms in foreign currency   Up to 120 months
Currency   GEL, USD, EUR
Issuance Fee   0.50% (min. 50 units)
Withdrawal fee   see Tariff Packages
Repayment Terms   Equal monthly payments
Security   Real estate
Type of Income   Salary, allowance, bonus, dividend, rent, remittance, as well as income from self-employed activities.
Search Fee for retrieving information in the Credit Info database   GEL 18/USD 6/EUR 6

See fully

Loan amount   According to the basic loan terms
Loan term   6 months
Loan currency   GEL, USD, EURO
Annual interest rate   0%
Loan disbursement fee   3%
Loan security   Commercial real estate for sale, owned by the borrower/co-borrower 
Loan repayment terms   Repayment at the end of the term
Loan Security   300 GEL (Equivalent in foreign currency)
წლიური საპროცენტო განაკვეთი აშშ დოლარი   7.45%-დან (სოფრის ინდექსზე მიბმული ცვლადი განაკვეთი)
წლიური საპროცენტო განაკვეთი ევრო   7.1%-დან (ევრიბორზე მიბმული ცვლადი განაკვეთი)
ეფექტური საპროცენტო განაკვეთი ლარი   14.7%-დან
ეფექტური საპროცენტო განაკვეთი აშშ დოლარი   7.9%-დან
ეფექტური საპროცენტო განაკვეთი ევრო   7.5%-დან

Withdrawal fee   According to the tariff package
Fee for searching in the Credit Info base   GEL 18/ USD 6/EUR 6

Check the link for registration/termination fee.

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.

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:

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Frequently Asked Questions

Didn't find what you're looking for? Send us a question
How is the effective interest 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 loan borrower?

"Move to a New Apartment" mortgage loan is issued to persons aged 20 to 70.

Who can be my co-borrower?

It is possible to register a family member as a co-borrower.
 

What happens in case of overdue?

On the first overdue day, a penalty fee of GEL 10 (USD 6/EUR 4) is charged. Subsequently, 0.27% of the overdue amount payable for each overdue day (not more than the requirements defined by law).

To which indices is the loan currency linked?

  • GEL - Tbilisi interbank interest rate - TIBR 1M 
  • USD - Term SOFR 
  • EUR - Euribor 
     

Got more questions?

info@terabank.ge Send us a message
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