Product Description and Terms and Fees
 
 

If you want to buy your first car or replace your current one.

 
 
Purpose Purchase of a new or a second-hand car
Loan amount 500-450 000 GEL* (equivalent in USD/EUR)
Loan tenor 6-120 months
Interest rate From 15% (GEL), from 9% (USD), from 8%( EUR)
Effective interest rate From 23.08% (GEL), from 17.48% (USD), from 16.22% (EUR)
Effective Interest Rate if indexed rate changes by 5 points (GEL) / 3 points (foreign currency) From 28.73% (GEL), from 20.86% (USD), from 19.39% (EUR)
Effective Interest Rate if GEL depreciates by 15% From 38.41% (USD), from  36.80% (EUR)
Disbursement fee 1%, min. 50 GEL
Loan collateral Maximum 72 months - a car, Maximum 120 months - real estate
Life Insurance Rate 0.72%
Property Insurance Rate 0.28%
Auto Insurance Rate 4.00%
Withdrawal fee (from account) 0%-0.6% - according to the tariff for the account
Late Payment Penalty 20 GEL on the first day overdue; 0.5% of the outstanding amount per each day overdue (in total, no more than 1.5x of the outstanding principal balance).
Ealry Repayment fee with own funds / from a different bank 0.5% - if more than 6 months remain
0% - if less than 6 months remains 
Participation From 0%
Borrower A citizen of Georgia
Co-borrower Mother, father, sister, brother, spouse. Maximum 2 co-borrowers are allowed for one loan.
Income Salary, rent, money remittances, dividend
Ways to evidence income Salary account statement from a bank or Revenue Service, rent agreement, remittance statements
Interesting offers MTPL, loan insurance, mortgage loan, travel insurance
The annual percentage rates given in the table are tied to the indexed interest rate