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Home > Individuals > Loans > Mortgage Loan with floating rate

Mortgage Loan with floating rate

Mortgage Loans with a floating interest rate can be issued in GEL or USD.

Compared to standard business loans, floating rate loans have the following advantages:

  • Lower interest rate compared to fixed rate loans, both in GEL and USD.
  • Interest rates are adjusted according to market trends.

Floating rate loans in GEL are tied to the refinancing rate of the National Bank of Georgia (see www.nbg.gov.ge).

Floating rate loans in USD are tied to the London Interbank Offered Rate (LIBOR) published by the British Banking Association. This interest rate is established for three-month deposits in USD (for details, please see : http://www.global-rates.com/interest-rates/libor/libor.aspx).

Currency                                                                      GEL                              Interest Rate
Minimum Amount: 130 000 Refinancing Interest rate
+ 3.5%
Maximum Amount: 400 000
Loan Term: 180 months  

 

Currency                                                                                 USD                 Interest Rate
Loan amount:            50 000 - 220 000               LIBOR on 3 months USD deposit + 5.4%              
Loan Term: 180 months  

 

information regarding the interest rate changing is sent to the client by internet banking.

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