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Cash Cover

This type of loan is totally covered by the client’s deposits held in ProCredit Bank.  

Purpose
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

Maturity of a loan covered by a deposit is up to 60 months.

Payment mode
A monthly payment plan will be established in agreement with the client.

Guarantee
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 required.
  • 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.    

Advantages

  • Approval in 30 minutes;
  • Very fast procedure and no bureaucracies.
  • No hidden costs.