Romanian CEC Bank Offers Lowest Rate For RON Loans In "First House" Program

The lowest interest rate for RON-denominated loans granted through the “First House” program is at ROBOR rate plus 1.9 percentage points and was offered by Romanian state-owned lender CEC Bank, the head of the Guarantee Fund for small- and medium-sized enterprises loans Aurel Saramet said.

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CEC did not send an offer for euro-denominated loans.

The bank asked for a guarantee limit of EUR95 million.

The government recently launched a program that aims at guaranteeing the loans to build or buy a dwelling. The guarantee, offered by the guarantee fund for SMEs, will amount to EUR60,000 at most and will be granted to the people buying their first home and who did not previously benefit from a mortgage loan.

The government received offers from 19 banks with a total value of EUR1.486 billion for the “First House” program.

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