Quick business loan
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Business development and/or consumer purposes.
Characteristics
Credit amount*
≤ 50,000 USD (equivalent GEL)
Period
≤ 60 months. Renewable credit line with a tranche term of up to 12 months
Type of interest rate
Fixed, indexed, mixed (for a certain period - fixed, then - indexed)
Interest rate (fixed)
from 15.50%
Interest Rate (Indexed)
Index** + from 4.00%
Effective interest rate
from 17.32%
Disbursement fee
1.00%
Account opening fee
Free
Withdrawal fee
0.2%
Daily Late Payment Penalty
From 0.1% per day overdue, not exceeding the requirements defined by law
Early repayment / external refinancing fee
In the case of a fiixed rate: ▪ No more than 0.0% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if 0 to 6 months remain before the maturity of the agreement; ▪ No more than 0.5% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if 6 to 12 months remain before the maturity of the agreement; ▪ No more than 1.0% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if 12 to 24 months remain before the maturity of the agreement; ▪ No more than 2.0% of the prepaid amount (the amount paid to settle the outstanding principal balance at the time of prepayment) if more that 24 months remain before the maturity of the agreement. In the case of an indexed rate: ▪ 0.0% of less than 6 months remains before credit maturity; ▪ 0.5% if more than 6 months remain before credit maturity;
Mortgage registration fee
Per unit 56 GEL
Mortgage registration cancellation fee
Per unit 51 GEL
Real estate insurance
Not mandatory
Repayment schedule
Annuity / seasonal repayment
* Loans less than GEL 200,000 are issued only in the national currency, with the exceptions provided by law.
** Interest rates in the indexed period are linked to public indices: refinancing rate of the National Bank of Georgia (GEL), 6-month Libor (USD), 6-month Eurobor (EUR), which may change (increase or decrease), respectively, the loan interest rate and loan repayment will change.
