EnglishGarantiBank has introduced a special mortgage loan for those interested in buying a condominium in the Cosmopolis Residences. The loan is available without any disbursement commission and comes with a two-month grace period without any payment of principal or interest.
The loan bears a preferential interest rate of 6.5% p.a. (actual annual rate: 7.93% calculated for 80,000 EUR borrowed for 15 years), which is 1 percentage point lower than the bank"s rate card interest rate for mortgage loans, irrespective of the denomination of the loan. The offer is available until 18 September 2009. Cosmopolis is a residential compound designed to comprise over 6,600 apartments and villas. The first phase, comprising 565 apartments (36 apartment buildings and 8 villas) is currently under construction.
GarantiBank Retail Banking & Bancassurance Manager Okan Yurtsever said: "The offer brings additional benefits to those seeking to buy a home in a residential area based on a modern concept for the local real estate market. We offer them not only a preferential interest rate, but also other advantages such as a two-month grace period and no disbursement commission. All this will make moving into a new home easier, without any worries about instalments, which will be paid later."
GarantiBank is the Romanian branch of GarantiBank International NV, registered in Amsterdam, which is wholly owned by Garanti, the largest private bank in Turkey.
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