Slovenská sporiteľňa makes housing loans cheaper, while pushing the interest rates down by 0.3 %
Effective from today Slovenská sporiteľňa cuts the interest rates for housing loans. Advantageous rates are available with all fixation types.
For the last 12 months interest rates of housing loans were cut five times by Slovenská sporiteľňa. As a result, loans for real estate purchase or reconstruction is available for clients from 4.29%. „People who are solving their housing needs have a unique opportunity, now. The reason behind are attractive interest rates in combination with low real estate prices,“ explains Michaela Trojčáková, Head of Retail Loans Department of Slovenská sporiteľňa.
Interest rates of Housing Loan:
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Interest rates cut will also influence mortgage loans for young people. Clients aged up to 35 years will have the opportunity to obtain housing loan for 1.29 %. Applicable interest rate is down by 3 % p. a., where 2 % are contributed by state and 1 % by Bank.
Interest rates of Mortgage Loan for young people:
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Most favourable is 3-year fixation
Most frequently a 3-year fixation of interest rate is used with housing loans, showing certain shift compared to the past when 1-year fixations prevailed. „Now, the clients obtain loans for much more advantageous conditions, and therefore it is obvious that they want to keep them as long as possible.“, explains Michaela Trojčáková. Whereas, from historical perspective offered interest rates are rather low today, clients are recommended to fix them for a longer period, i. e. for 5 or 10 years.
Sporiteľňa saw a growth in housing loans
While the Slovak housing loan market saw a slight decrease in 2009, Slovenská sporiteľňa succeeded to strengthen its position, and as the market leader increased the volume of provided loans by more than 7%. „Major y-o-y increase was recorded in November, when both the number and the volume of housing loans saw a double-fold increase.“, explains Michaela Trojčáková, adding: „By the end of the last year, our share in the new housing loans was almost 31%, nearly one third of the market. Also this fact confirms that we are here for our clients when they need it, in good as well as in worse times.”
Slovenská sporiteľňa is with 2.5 million clients the largest commercial bank in Slovakia. Its only shareholder is the Austrian Erste Group Bank. Slovenská sporiteľňa has a long-term leading position in total assets, retail loans, client deposits, number of sales points and ATMs. Slovenská sporiteľňa offers complex banking services in 278 sales points and 18 commercial centres in all regions of Slovakia. For more information see www.slsp.sk.
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