EUR 1.000 – 66.500 (in lei)
Maximum reimbursement period
Minimum down payment from
What are the advantages of a First House Loan from OTP Bank?
The income certificate is not required. Information about your earnings is obtained by querying the NAFA database.
You only need at least 5% of the Loan amount for the down payment.
30 years is the maximum reimbursement period, but you can choose a shorter period to escape the instalments as soon as possible.
The minimum amount of the First House Loan can be EUR 1.000, the equivalent in lei, and the maximum amount can be of: EUR 57.000, equivalent in lei, for completed dwellings that do not fall under the new or consolidated category and EUR 66.500, equivalent in lei, for new consolidated dwellings.
To benefit from a first house Mortgage Loan with a higher value, you can apply with up to 3 co-debtors.
Monthly instalments will be equal, based on the principal and interest.
The interest rate is variable, consisting of the fixed margin of 2% + IRCC.
How can you guarantee for credit? Your options are: a legal rank I Mortgage on the dwelling, which is proportional to the percentage of guarantee in favour of the Bank and the State represented by the Ministry of Public Finance and its insurance, respectively a collateral deposit amounting 3 interest rates.
The Loan analysis fee for approval of the loan is 0 lei.
OTP Bank accepts a wide range of incomes and gives you the possibility of cumulating them.
Access easily a First House Mortgage Loan?
We're alongside on your way to your first home. We are waiting for you at any OTP Bank branch to advise you on the First House Mortgage Loan and how to access it.
Before making this step, please review the eligibility criteria and the list of required documents specified below.
How can you apply for the Loan?
Visit our OTP Bank Branch and
let's talk about the most appropriate option.
We congratulate you for choosing to go on the first road to the house of your dreams. At OTP Bank you can submit the following guarantees to get the First House Loan:
A rank I Mortgage on the dwelling which is proportional to the percentage of guarantee in favour of the Bank and the State represented by the Ministry of Public Finance.
The guarantee issued by FNGCIMM in the name and account of the State represented by the Ministry of Public Finance, in favour of the Bank, within the limits indicated in the Guarantee Agreement.
Property Insurance Policy*, assigned to OTP Bank Romania S.A. and in favour of the State, represented by the Ministry of Public Finance proportional to the guarantee percentage.
Collateral deposit equal to the first 3 interest rates.
Movable Mortgage on all credit balances of current accounts.
* For the property insurance policy, OTP Bank recommends property insurance offered by Groupama Insurance. With this insurance, you benefit both from the Self-ascertainment and from Emergency repair services. Details on groupama.ro.
First House Mortgage Loan from OTP Bank is available for:
Romanian citizens residing in Romania;
Foreign citizens residing in Romania;
Clients who apply individually or together with up to 3 co-debtors (needed to improve reimbursement capability).
The length of service from the employment must be of:
minimum 3 months at the current employer;
at least 12 months as PFA activity.
The total uninterrupted length of service must be:
Of minimum 12 months without interruptions longer than 31 if the length in service to the current employer is less than 6 months;
At least 12 months if you operate as PFA.
In order to obtain the First House Loan, OTP Bank accepts a wide range of incomes.
Incomes from salary;
Income from management contracts;
Income from copyright or intellectual property rights;
Income from management or census benefits;
Commercial income (e.g.: provision of services other than the liberal professions);
Monthly pay, allowances, benefits, food allowance and other permanent rights;
Income from life annuities;
Retirement income from Romania / abroad;
Income from liberal professions;
Income from rental of real estate.
Income from fees cashed in besides the salary*;
Income from management contracts;
Income from agent / representation / brokerage agreements / civil agreements / conventions*;
Salary earned by Romanian citizens working abroad*;
Income obtained by navigators based on navigation contracts;
Incomes from abroad;
Income from dividends.
Want to apply for a First House Loan from OTP Bank? Here are the documents you need to submit / sign both you, as the applicant, as well as the co-debtors, if any:
Identity document (original);
Credit application (original, standardized bank form), which includes:
- • Statement regarding payment obligations, third-party litigation and group relationships;
- • CRB consultation agreement;
- • Credit Bureau consultation agreement;
Authentication of own responsibility statement using the models contained in program-specific regulations.
* In the case of clients for whom the reporting of incomes to NAFA is not reported, it is necessary to submit additional documents (e.g. Ministry of Interior, Ministry of National Defence, Romanian Intelligence Service, Gendarmerie etc.).
Documents relating to the property subject to the credit application:
The Mortgaged real estate can be:
Completed dwelling (registered in the Real Estate Registry);
New dwelling intended for purchase after completion.
Documents proving ownership of the property are required, such as:
Deed of sale-purchase, deed of donation etc.
Completion of registration or real estate registry excerpt;
Sale purchase pre-contract authenticated or under private signature with certain date / signature legalization;
Valuation assessment report (prepared by an assessment company agreed by the Bank);
Energy Efficiency Certificate for one of Energy Efficiency Classes A, B or C.
OTP Bank reserves the right to request additional documents, on a case-by-case basis.
Informative calculation model
Here is a representative example of the calculation of a First House Mortgage Loan in lei:
For a Loan in amount of 221.000 lei for a period of 30 years, the interest rate is 4.44% (variable interest rate), DAE 4.53%, monthly instalment of 1.112 lei (repayment method by instalments + interest), total cost of Loan of 179.287 lei, the total amount paid 400.287 lei.
Frequently Asked Questions
What is the minimum income accepted?
For Loan approval, your minimum net monthly salary must be 1,500 lei. If you earn income from multiple employers, it is acceptable to cumulate them as long as at least one of the earnings is the equivalent of the national minimum wage.
Who are the persons authorized to sign the income certificate?
The authorized persons are: General Director, Financial Director, Human Resources Director, Payroll Officer, Accounting Director. It is necessary to complete on the income certificate the exact position of the person having signatory right on the certificate.
As a retiree what credit can I request?
If you are a retiree and your retirement decision is final or reviewable*, depending on your needs and plans, you can apply for personal Loan for retirees, under favourable conditions or, depending on the amount wanted, home equity Loans or Mortgage Loan. You should also take into account the characteristics of the respective Loans, presented on their pages.
* In the case of a periodic review pension, the Loan will be granted only for a period equal to the number of months remaining until the decision expires, observing the minimum duration of the product.
What insurance is required for a Mortgage Loan?
In the case of Loan for the purchase of dwellings, it is necessary to insure the real estate during the entire lending period (facultative insurance policy and mandatory PAD policy).
What are the possibilities for Loan repayment?
To pay your Loan rates, you can either go to OTP Bank branches or make transfers to your current account (where the required amount will be withdrawn at due date). If the Loan is in a currency other than the one in which the current account was opened, the foreign exchange will be automatically made at the due date.
What conditions must a property satisfy to be mortgaged?
In order to be mortgaged, the dwelling must meet the following criteria:
- to represent a property for housing: house, villa, apartment;
- to be unencumbered;
- to be included in the civil circulation;
- to be located in the locality;
- not to be damaged, incomplete or in an advanced stage of wear.
What is the cash withdrawal fee from the current account for your Mortgage Loan?
The credit funds granted will be transferred to the seller's account (opened free of charge for him) and the withdrawal fee from the current account of cash for payments coming from Mortgage Loans is set at 0%.
What happens if the utility bill is on another person's name?
The utility bill is required to be able to check the home address that appears on your Identity Card. It is not mandatory for the utility bill to be on the applicant's name. Instead it is also accepted the documents of ownership.
Can family income be taken into account?
Yes, you can apply for a Loan together with another family member. Both applicants must meet the eligibility criteria for the respective Loan.
Which Loans can be refinanced?
You can use the refinancing procedure from OTP Bank if you have a history of at least 6 months with the current Loan and it is:
- personal Loan with / without mortgage;
- mortgage Loan for the purchase of dwellings;
- credit card;
- overdraft account.
What do interruptions on the Employment Record Book represent?
Interruptions on the Employment Record Book are the time period you have not had a professional activity. The following are not considered to be interruptions: maternity leave, sick leave, military service, study leave, temporary working disability leave.
Can I get a Mortgage Loan if I am on maternity leave?
Yes, you can apply for a loan if you obtain parental allowances. According to the type of product for which you apply, the Bank can request the presence of a co-debtor.
For what period can I apply for a Loan if I have a fixed-term employment contract?
Under these circumstances, you may request a Loan for the maximum remaining period until the expiration of the employment contract, observing the minimum duration set for the respective Loan.
What are the steps to take when I want to get a Loan?
In order to obtain information about our Loans, you must visit any OTP Bank unit or contact the Call Center service at the following telephone number: 0800 88 22 88 (free of charge from any fixed or mobile network in Romania) or at +4021 308 57 10 (also from abroad) from Monday to Friday between 8:30 and 21:00.
In order to know what the maximum amount you can obtain is, ask for an informative budget calculation based on net monthly earnings. If you meet the lending conditions and decide to apply for such Loan, it is necessary to come to any OTP Bank unit with the required documents for the Loan.
The steps for contracting a Loan are:
- performing the preliminary calculation and signing the necessary documents in order to generate the customized offer;
- submitting employee records for case analysis, if applicable;
- submitting documents for the real estate / land and performing its assessment - for Mortgage Loans;
- signing the loan contract and for the Mortgage Loans and the sale and purchase contracts (made at the OTP Bank branch) and payment to the real estate / land seller.
Useful Information, Regulations, Costs
- Interest rates (pdf, 631.27 KB)
- Loan taxes and Fees
- Values of the reference indicators for loans granted before 31.12.2013 (pdf, 14.2 KB)
- Values of the reference indicators for loans granted by Banca Millennium S.A. until 31.10.2015 (pdf, 32.66 KB)