Home Equity LoanTB
Clients who opt for 3-year fixation receive an interest rate from 0.95 % to 1.55 % per year. Even as a convenient car loan.
Favorable interest from 0.95 % p.a. at 3-year fixed-rate period
With reimbursement of costs for early repayment in another bank
Funds for anything
Advantageous property insurance and ability to repay the loan
Home equity loan/APR calculation
Loan amount: €50,000,
repayment term: 20 years
0.95 % p.a.
With a loan of €50,000, 0.95 % p. a. interest rate, maturity period in months / 240 payments and single charge of €99 for loan provision, single charge of €150 for real property appraisal, single charge of €66 for the Land Register and monthly insurance premium of €3.33 for real property insurance represents the annual percentage rate of 1.17 % with monthly loan payment of €228.83. The total amount to be paid by the client represents €56 033.40 while calculation of interests is based on an assumption that all months have 30 days and a calendar year has 360 days.
Frequently Asked Questions
The entire amount of a Home Equity LoanTB is a loan for any purpose, which means that there are no requirements to document any purpose and the funds from the Home Equity LoanTB may be used at your sole discretion. The only exception is a situation when you use the home equity loan to repay other loans – in this case you must repay those loans and any remaining part of the loan may be used for any purpose.
The Consumer LoanTB and the Home Equity LoanTB differ in two important parameters, namely maturity and interest rate:
The Consumer LoanTB – a loan with an interest rate from 5.9 % p. a. and maturity period max. 8 years,
The Home Equity LoanTB – a loan with an interest rate from 0.95 % p. a. for 3-year fixation and max. 20 years.
In comparison to the Consumer LoanTB, the Home Equity LoanTB requires pledging a property as security.
Yes, the Home Equity LoanTB may be repaid early, even without a fee, on the date of the end of the fixed-interest period. A client may
also provide an extraordinary deposit once a year up to the 20 % of the loan principal free of any charge. In addition to these two options, the costs of early repayment must not exceed 1% of the early repaid amount for the housing loan.
The conditions to obtain the Home Equity LoanTB from Tatra banka are as follows:
minimum age 18 years,
documentation of current net monthly income of €350 or more,
loan up to the maximum amount of 80% of the pledged property,
maximum repayment period of 20 years,
an option to use a portion of the loan to pay fees (the origination fee and property appraisal by Tatra banka),
pledging of the housing property as security.
Yes, there is. In cooperation with the UNIQA insurance company you can arrange the following directly at the branch:
- insurance of your ability to repay a loan, which will give you certainty in case of unforeseen events that will prevent you from continuing to repay the loan,
- property insurance that you can arrange according to your needs.
The option of a fixed interest rate is available for 1, 2, 3, 5 and 7 years for the term of the loan repayment.
At least two months before the end of the fixed interest rate period we will contact you in writing and let you know the new interest rate and the new fixed interest rate period. You can decide, whether you:
- accept the new interest rate and the fixed-rate period,
- accept the offer to extend or shorten the fixed-rate period and the related interest rate.
Consultation is the first step to obtain the loan. Schedule a date for your meeting via DIALOG Live *1100 or visit any Tatra banka branch. Our mortgage specialists are credit professionals. You will learn about the complete offer of loan products at the first meeting and then it will be up to you to combine the financing for your new home, car loan, cottage or property refurbishment.
After submitting all required documents for the loan approval, you will file a loan application to one of our mortgage specialists. You do not have to complete the application in advance; the mortgage specialist will take care of everything. If you apply for a loan with a co-borrower, the co-borrower need not be present when filing the application, provided the co-borrower signed the applicable approvals during consultation.
In the event that you ask for a loan/home equity loan, you have to bring the following documents with you:
- your proof of identity,
- your evidence of income (for example income from a business or income from abroad),
- documents for pledged property (namely appraisal) – apartment assessment may be arranged through Tatra banka.
Yes. If you are creating a lien on a flat, you may have it valued through Tatra banka – we will prepare an internal appraisal within 24 hours for €150 per property.
You can use the services of an expert of your own choice and submit one original copy of the appraisal. It cannot be older than one year (in the event of a refinance loan, we also accept an older appraisal but not more than five-years old).
In addition to evaluating your ability to repay a loan and credit-worthiness, the approval of a loan application also includes verification of the expert appraisal. Our mortgage specialist will notify you of the outcome of the loan approval process. After the approval, we will prepare your contract documents. The bank guarantees the conditions laid out in the draft loan agreement for 30 days. When signing the loan agreement, our mortgage specialist will explain what steps you must take for loan disbursement. You have several options in signing the agreement: at a Tatra banka branch for no fee; before a notary for a fee; or at a registry office for a fee.
In the event your loan has been approved, you must still organize some things: visit the cadastral department at the appropriate district office,
where you must bring two copies of the application to record a lien, two copies of the contract for a lien, a copy of the power of attorney for the bank, as well as any other documents specified as an annex to the contract for a lien. You may also use the bank service We will deal with the cadaster for you, when Tatra banka will deal with the cadaster office – you must only sign the contracts at a branch.
You must submit to the bank one original application to record the lien specifying the date of its filing at the land register. Arrange property insurance, which is compulsory for a mortgage loan, and have the form of confirmation of the receipt of notification of the origination of lien confirmed by the insurance company. You can choose any insurance company you want.
Our tip: You can arranged for the property insurance directly in Tatra banka in cooperation with UNIQA insurance company.
It is also necessary to meet other individual conditions for loan disbursement specified for your loan agreement.
It is possible to ask for an accelerated registration of documents for the register; our mortgage specialist will inform you of the complete procedure. Inform your mortgage specialist on the need to draw the loan quickly and he/she will advise you about the most suitable procedure for your type of loan. Tatra banka will let you draw the loan at the latest within 10 days from the date of submitting all required documents.
Of course you must also monitor the conditions to be met after obtaining the loan. The documents to be submitted to the bank are specified not only in the loan agreement but also in the list of documents that form part of the loan documents.
You will repay your loan in monthly instalments. During the fixed-rate period, your instalment will remain unchanged. During the repayment period, you can, for example:
- make extraordinary instalments,
- ask for a replacement of the original pledged property with a different property,
- ask for a change of the co-borrower,
- ask to postpone instalments.