This type of loan is totally covered by the clients deposits held in ProCredit Bank.
Cash covered loans are used to invest in a business, house purchase, for private purposes, or overdrafts used to cover short-term liquidity constraints.
Maturity of a loan covered by a deposit is up to 60 months.
A monthly payment plan will be established in agreement with the client.
A cash covered loan requires a time deposit as a guarantee, of 110% of the loan amount where the loan is in the same currency as the deposit, and 120% where the loan is in a different currency from the deposit.
- No financial analysis is
No co-debtor is required:
For amounts up to 2,500,000 LEK (or the equivalent in EUR/USD).For amounts up to 5,000,000 LEK (or the equivalent in EUR/USD) if the term deposit used as collateral accounts for more than 150% of the loan amount.
Approval in 30 minutes;
Very fast procedure and no bureaucracies.
No hidden costs.