Banca Romaneasca reduces down payment on mortgages to zero

The maximum debt is 70 percent of the clients’ monthly net incomes and down payment can reach 0 percent for mortgages, provided the minimum coverage degree of 118 percent is respected. The subsistence expenses for the degree of debt may reach RON 245 (€67.32) for a family member. The bank accepts a maximum of four co-debtors to calculate cumulative incomes. As of 18 February, Banca Romaneasca will offer higher interest on time deposits in euro with fixed interest. For deposits due in one month, the bank increased interest from 4.1 percent to 4.3 percent, while for 3 and 12-month deposits interest rose to 4.45 percent.

The value of Banca Romaneasca assets doubled in 2007, to €1.9 billion. The bank extended its network to 122 locations and agencies, targeting an increase of over 50 percent in total asset value in 2008.