The granting of this type of credit is not conditioned by signing a saving-crediting contract

Bucharest, 10 September 2015 – BCR “Banca pentru Locuinţe” (BCR BpL), the saving-crediting market leader on the housing market, is launching a new type of credit in RON, “Creditul fix pentru casă” (“Fixed housing credit”), to be used only for activities such as modernisation, restoration, consolidation, enlargement or construction of a housing unit. In order to obtain this new type of credit, clients are not conditioned by signing a saving-crediting contract.

The maximum value for this credit is RON 400,000, while the minimum value is RON 22,000, with a fixed interest of 5.65%/year for the whole crediting stage.

„For this new type of credit in RON, with fixed interest rates offered for the whole crediting stage, we welcome all thrifty householders who wish to improve their housing status, and have long-term plans for the family budget. This new type of credit does not condition clients to sign a saving-crediting contract,” stated Carmen Schuster, Vice-president of BCR “Banca pentru Locuinţe”.

An advance payment is not necessary for credits needed for modernising, restoring, enlarging or consolidating a housing unit, with values lower than RON 88,000, while for credits higher than RON 88,000, the advance payment is of 20%. For credits regarding construction of a housing unit, an advance payment of 25% of the market value of the property provided as collateral (land and future construction) is necessary.

The credit is granted over 15 years and the bank accepts up to 3 co-payers, family and non-family members.

Calculation example: For a credit to be used for modernising a housing unit, amounting to RON 80,000, with no advance payment, secured through a mortgage, the conditions are as follows:

  • Fixed interest rate over the whole crediting stage: 5.65%;
  • Monthly credit instalment (interest rate + main): RON 660;
  • Effective yearly interest rate: 5.80%/year;
  • Application processing fee: RON 0;
  • Monthly administration fee: RON 0;
  • Evaluation of property provided as collateral: Free;
  • Total payable value: RON 118,809;
  • Credit period: 15 years.

Credit contracts can be signed with BCR BpL directly at BCR branches and offices, as well as through the BCR BpL distribution network, respectively through direct sales and BCR BpL partners.

At the end of last year, BCR BpL ranked 21st among the banking system, with an 0.8% market share, with a 27% increase on a YoY basis. In 2014, BCR BpL experienced an increase of 27% regarding deposits, amounting to over RON 2.5 bn.

“BCR Banca pentru Locuinţe continued climbing on the improvement curve well into 2014, too, strengthening its leading position in the Romanian saving-crediting banks industry. Although the economic context remains difficult, the clients of BCR Banca pentru Locuinţe have continued to save and invest money in improving their homes. Thus, during 2014, the bank’s received deposits experienced an increase of 27% compared to 2013, and the bank’s portfolio exceeded 362,000 saving-crediting contracts”, stated Carmen Schuster, Vice-president of BCR “Banca pentru Locuinţe”.

There are over 362,000 contracts in the BCR “Banca pentru Locuinţe” portfolio, based on which clients have saved over RON 2.5 bn. The value of contracts signed in 2014 amounted to RON 3.3 bn., 37% more than the value of contracts signed in 2013 (RON 2.4 bn.).

The portfolio of credits granted by BCR “Banca pentru Locuinţe” S.A. increased by 33%, surpassing RON 152 ml. at the end of 2014, as compared to RON 114 ml. at the end of 2013.

BCR “Banca pentru Locuinţe” (BCR BpL), a subsidiary of BCR GROUP specialized in savings and housing credits based on the saving-lending system, was launched in July 2008. The main shareholders are Banca Comercială Română (BCR), Romania – majority shareholder owning 80% of the shares – and S Bausparkasse der oesterreichischen Sparkassen, an ERSTE Group bank specialising in savings-credits, from Austria  – 20% of the shares.

BCR – External communication 

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