Tirana Bank offers financial support for all Retail customers who want to be financed for Purchase a residential property; Construct a residential property; Investment Purposes (buy to let/ buy to sell) constructed by the ARKON SHPK construction company.

Lending Terms and Conditions:

 Currency: EUR/ ALL

 Amount:

Min:  5,000 EUR / 500, 000 ALL;

Max: 300,000 EUR / 30,000,000 ALL Mass Customers;

Max: 500,000 EUR / 50,000,000 ALL Affluent Customers;

Max: 1,000,000 EUR / 100,000,000 ALL Premium Customers

Duration: up to 30 years;

Coverage (LTV):

	Minimum Coverage
	ALL	EUR
First residential property	118%	133%
Second and subsequent residential property	125%	143%
Non-residential property (shops/offices/units)	165%	165%

Interest Rates

Currency	Payroll Customers
ALL	Fix interest rate for the first 2 years * 3%  Tbills 12M + 2.2%, (Min 4%)
EUR	Fix interest rate for the first 2 years * 3% , Euribor 12M + 4%, (Min 4.5%)

Payment method: Principal and interest are paid in equal monthly instalments

DOCUMENTATION

1.    Personal Data

•  Application form
•  Copy of ID card or passport
•  Family certificate issued in the last 3 months
•  Preliminary Consent Clause signed by the applicants including collateral provider/s

2.    Collateral /Financing documents

•  Property Deed
• Undertaking contract and other relevant documents
•  Verification of payments performed as down payment from the client’s funds

3.  Income Proof

  Albanian Citizens with permanent residence and professional activity in Albania (for all applicants in a loan):

•   Employment Confirmation extracted from E-Albania only for Customers that are payroll in other banks;
•  Social and Health Insurance Contribution for the Individual  extracted from E-Albania;
•  Extract of National Registration Centre for Businesses (within the last month); NIPT; Tax Office verification of dues; Balance sheet; Income statement; FDP for the current year;
•  Lease agreement duly signed in front of notary not earlier than 3 months accompanied with documents that prove the ownership of borrower/s, ID document of the lessee;
•  Insurance declarations;

 

·        Citizens of other countries who live & work in Albania (in addition to the above):

•  Permanent residence in Albania;
•  Valid work permit;
• Tax declaration for at least 2 years;

·        Albanian Citizens who live and work abroad (emigrants)

•   Permanent residence in the country of residence and Valid work permit;
• Tax declaration for the last year when the client is employed and for two years when the client is performing his/her own activity;
•   Individual or business statement of account for the last year and the current one;
•  Employment agreement and/or employment confirmation issued by the employer;
• Verification of living premises (owned or rented);

 

·        Citizens of other countries who leave and work abroad

•  Tax Declaration for at least 2 years;
• Individual or business statement of account for the last year and the current one;
•  Employment agreement and/or employment confirmation issued by the employer;
•  Verification of living premises (owned or rented);
   

 

Pre Contractual Info for Home Construction with ArkonSHPK