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).
||Refinancing Interest rate
|| 50 000 - 220 000
||LIBOR on 3 months USD deposit
information regarding the interest rate changing is sent to the client by internet banking.