What is an effective interest rate?
The effective interest rate is the interest rate that reflects the consumer’s financial costs associated with obtaining a loan taking into account the period of these costs incurred. Establishing an effective interest rate gives you the opportunity to compare all the financial costs correctly and justly associated with obtaining a loan from various Commercial Banks or Microfinance Organizations and get an advantageous decision for yourself.

What are the costs of obtaining a loan?
When obtaining a loan, note that the loan is accompanied by the certain expenses, such as: a nominal interest rate, a commission for approval of a loan, a commission on insurance; the costs set for the maintenance of administrative bodies (costs for registration and removal of mortgages), commission for the removal of credit, life insurance, etc.

What is the difference between Mortgage and Consumer Loans?
The consumer loan is smaller in volume than the mortgage loan. At the same time, it is more short-term. The mortgage loan has a specific purpose – purchasing an apartment (a flat) or a house, repairing, building. In the case of a mortgage loan, to secure a loan, a pledge requires property that is burdened by a mortgage bank. If the consumer cannot fulfill the obligations imposed on him, the bank is authorized to effect the realization of the pledge. Consumer loans, as a rule, do not require collateral, though there are also collateralized consumer loans.

What are Mortgage loan issuing conditions?
A mortgage loan is issued by providing real estate (a residential apartment or commercial space), which is burdened by the mortgage of our company in the National Agency of the Public Registry.

How long is it possible to take a mortgage loan for?
It is possible to take a mortgage loan for up to 5 years.

How to cover the loan?
During the coverage of the loan, interest and principal are charged at the same time. The loan is covered monthly by the amounts provided for by the schedule. Monthly payment is carried out in our partner bank, crediting the amount to the bank account of our company.

What kind of documents are needed to take out a loan?
Identity of the borrower / owner; Updated statement of assets from the National Agency of the Public Registry granted for securing a loan.

What currency is the loan issued in?
The loan is issued in national currency Lari. The loan is issued in Georgian Lari.

Is it possible to transfer a loan from another company?
Yes, refinancing is possible.