Real estate guarantees: the credit granting requires the establishment of real estate guarantees in favor of BCR as follows:

• Mortgage established in favor of the bank over the building bought from credit and, if the case, a supplementation over another building.          

Good to know:

• To bring a real estate as guarantee in BCR favor the respective real estate has to be valued by an authorized valuator, member of the National Association of Authorized Valuators of Romania.
• The valuation implies the payment of a valuation fee, which depends on the tariff practiced and communicated by the valuator. The valuation payment is done either to BCR, or directly to the valuator, depending on your option for the valuation performance: through a valuator who signed a collaboration contract with BCR, or by your preferred valuator who will sign a services contract with you.
• By way of example, but not limited to, the following properties are not accepted under the guarantee by BCR:
  • Real estate classified as seismic risk Class I and II Rs I / Rs II, based on the list drawn up by the City Hall or authorized expertise. All buildings registered in other classes of earthquake risk (Class 3 and 4) may be accepted under warranty. If a building is technically but not classified in a seismic risk class or is registered in a seismic risk emergency category (U1, U2, U3) then the building should be classified as seismic risk class (risk class 1, 2, 3 or 4). This classification must be carried out by an expert in technical expertise.
  • Flats with low comfort (III and IV), non-functional housing (example: no kitchen, shared bathroom, etc.). The minimum useful areas to be considered comfort II or superior are: for a room (studio) - min. 23 sqm; for 2 rooms - min. 36 sqm; for 3 rooms - min. 48 sqm; for 4 rooms - min. 60 sqm; for 5 or more rooms, 10 sqm for each room will be added to the required minimum floor area for 4 rooms. The subunit values ​​are mathematically rounded (0.5 or greater is rounded up, and below 0.5 it is rounded down). These minimum areas do not include the balcony / log surface.
  • Buildings for which insurers refuse to conclude insurance policies or for which insurers impose additional clauses / additional franchises or exclusions of insured risks.

Mandatory Insurances

• Mandatory dwellings insurances (PAD), assigned in favor of BCR.
• Optional building/buildings insurance which stands for the credit guarantee, assigned in BCR favor; we come to your support and offer you the chance to sign at BCR premise the optional building insurance, for the whole lending period, with  OMNIASIG VIG, although you can also chose another insurance company.

Optional Insurances

• Life insurance (against payment)  if the eligibility conditions set up by the Insurer are met
• Complex insurance (against payment),  supporting you in case of unemployment, extended medical leave and total and permanent disability (if the eligibility conditions set up by the Insurer are met)
• Insurance for serious diseases and partial and permanent disability (against payment),  supporting you in case of risks occurrence of  myocardial infarction, cancer, cerebral vascular accident, partial and permanent disability (if the eligibility conditions set up by the Insurer are met)

Good to know:

To conclude the insurances, you can choose any insurance company authorized by the Financial Supervisory Authority (former Insurances Supervisory Commission).

Credit repayment:

is done in monthly total installments, equal or decreasing, in a standard current account or in a current account for credit running, depending on your option.

Good to know:

During the credit contract running, you can at any moment repay in advance, totally or partially the credit. We recognize this right without imposing you the condition to pay a certain minimal amount or a certain number of installments. In case of partial anticipated repayment, you have the right to choose between:

(1) reduction of monthly installment and keeping the initial lending period,

(2) keeping the monthly installment value and reduction of initial lending period, and

(3) reduction of monthly installment value and the initial lending period.

Offer is valid until 30.06.2019

* The current interest applicable to mortgage credit is flat during the first 5 years or during the first 10 years, depending on your option and variable for the rest of the lending period.

You have fixed rates in the first 5 years, or in the first 10 years, as the case may be; you know how much you pay monthly, you can plan your budget well and you are protected during this period against the fluctuations of the reference index for loans granted in national currency (IRCC).

The variable interest is made of the reference index for loans granted in national currency (IRCC), plus the flat margin/year (at the percentage shown in the table). Thus, the variable interest rate is changing quarterly, independent of BCR will, depending on the quarterly evolution of the reference Index for loans granted in national currency (IRCC). As a result of this fluctuation, the value of your monthly instalments will rise or fall.

The floating interest rate for loans in RON currency is calculated depending on the reference index for loans granted in national currency (IRCC)  quote and represents the interest rate calculated on the interbank market transactions in accordance with the applicable legal provisions. IRCC is published in the last working day of each quarter on the National Bank of Romania's website and also on the BCR website (www.bcr.ro) and in all BCR branches.

The reference index for loans granted in national currency (IRCC) and your income may vary during the credit period. Thus, if the reference index increases or your income decreases, credit obligations may increase. Therefore, before deciding to borrow, carefully analyze the implications of the loan and make sure you can repay it on time.

**DAE is calculated in the presented conditions and  it does NOT include the following costs/fees:

• Costs of mandatory insurances on the building and the optional insurance, respectively:
  • Mandatory dwellings insurance (PAD)
  • Optional insurance of the building/buildings standing for the credit guarantee
  • Complex insurance
  • Optional insurance for severe diseases and partial or permanent invalidity
• Costs charged by third parties, which are not known by BCR:
  • Notary’s fees for authentication and registration taxes of the selling-buying contract in the land register and the mortgage contract
  • Cost of guarasntee valuation by a valuator who is not contracted by BCR, according to your option.
• Fees charged by BCR, for services performed at your request:
  • Sole fee: RON 90 for the services performed included on the request date of the borrower/co-payer/co-payers in the list of tariffs and services displ;ayed at BCR premise.

In case you choose for a total or partial anticipated repayment of the contracted credit, the anticipated repayment fee will be 0.

Penalty interest: is the interest you will have to pay if you did not pay the amounts due to BCR at the agreed due date by the credit contract.

For the cost of other services than those shown above, please, see the Standard Fees Tariff practiced by BCR, available in any BCR unit.

The main documents regarding income achievement requested to customers

The clients whose income is reported to ANAF and collected by the client in the current account with BCR:

• No income related documents (except the conclusion of an Inquiry agreement for ANAF);
• In case the current income is higher by over 20% than the income of the previous year, BCR will request additional documents. 
• In the event of income from pensions, it is required to submit the Permanent retirement decision

Customers not reporting their income to ANAF:

• Customers for which the income from salaries is not reported to ANAF (employees of MAI, MApN, SRI, SIE, SPP, Police, Gendarmerie, employees of penitentiaries or other entities with special designation)
  • Income certificate (whether or not the salary is cashed into a BCR account)

Customers for which the income from pensions is not reported to ANAF

• Recent pension slip or current account statement
• Permanent retirement decision

BCR also admits for calculation other types of income: income from client’s independent activities, other income for determined period collected by natural persons (from other sources0, income from individual labor agreements/boarding contracts of navigators, other income (life annuity, doctor’s scholarships, post doctor’s scholarships, etc.).