Raiffeisen Bank 

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Infoline: 800 900 900

Variable mortgage

Non-purpose loan with flexible repayment.

What type of investments is this loan suitable for?

Do you wish to have a ready reserve of money on your bank account for unforeseen expenses, decrease your interest load under a mortgage, consolidate your existing obligations to other banks or do you want to be able to affect repayment of the mortgage loan according to your current financial situation? The Variable mortgage will allow you to draw, to decrease the drawn amount by deposits to the account, to draw repeatedly, to defer instalments, etc. in any manner you choose.

What may be the loan used for?

This is entirely up to you.

You may buy a new car, apartment, consolidate your obligations at other banks, maintain an emergency reserve of money in your account, or anything else.

What is the loan amount?

  • minimum amount                  CZK 300.000
  • financing up to 75 % of pledge value (purposal type of mortgage)
  • financing up to 50 % of pledge value (non-purposal type of mortgage)

How is the loan repaid?

  • loan maturity varies from 10 to 20 years
  • while the limit of the bank overdraft is being drawn down you only pay interest on the amount already drawn down, or you pay a commitment fee if the bank has a right to one - you dispose freely of the cash for up to 10 years!
  • during the period of repayment, i.e. after the bank overdraft has been completely drawn down, the loan is repaid in monthly annuity repayments
  • while the bank overdraft is being drawn down a floating interest rate is established thanks to which you may repay the loan prematurely at any time without incurring a penalty for premature repayment
  • during the repayment period it is possible to select your interest rate term from 1, 2, 3, 4, 5, 6, 7, 10 or 15 years, the same or another fixation term can be chosen repeatedly according to your decision
  • extraordinary instalments are permitted without any penalty at any time during the period of drawndown and during the period of repayment on the date the interest rate is changed. An extraordinary instalment can be made on another date but is subject to a fee of 1% of the amount of the extraordinary instalment
  • during the period of repayment we also offer possibility of extraordinary instalments, so called "turbo" instalments, without any penalty of up to 25 % of the due principal sum after every 12 correctly paid instalments. You can use "turbo" instalments several times, they do not depend on interest rate fixation periods.
  • the loan is repaid in monthly annuity instalments


Who may apply for the loan?

Types of applicants

  • a citizen of the Czech Republic
  • a citizen of the EU or a citizen of any country who lives in the Czech Republic at least 2 years

Age restriction

  • the current minimum age for applicants is 18 years
  • the maximum age in the year the mortgage matures is 65 years 

 


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