Mortgages – Terms and Overview of Current Interest

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Mortgage interest rates are at historical lows. Banks still provide low interest rates for 5-year fixations. If you want to know specific rates in individual banks, read on.

Even though eg. rates on mortgages go up with neighbors in the Czech Republic, and interest in new mortgages in Slovakia is extremely low.

Interest rates on mortgages

bank

See below for an overview of interest in new mortgages. It is interest without the terms of taking out a credit insurance through the bank or other products that make the mortgage more expensive.

These rates do not apply automatically to everyone. People with lower creditworthiness may have higher rates in some banks, and in some cases some of them may still be subject to interest.

That is why I supplement the table with a comment on each bank, where I specify the conditions for obtaining interest, the fee for mortgage approval, the possibility of extraordinary installments and account maintenance fees.

Bank Mortgage

Bank Mortgage

Conditions for obtaining interest

They give the lowest interest to people with the best creditworthiness. It’s not a bank for everyone. In addition, CSOB’s branches are claimed by traders. To obtain interest, they often require the use of other products from the ČSOB group – property insurance, overdraft, credit card, savings account and life insurance. You will usually leave at least with an account, savings, property insurance, and overdraft. Active use of your current account is a must if you want to have low interest.

Fee for mortgage approval

There is currently 0 € charge.

The possibility of extraordinary installments

ČSOB is good at this. In addition to the possibility that the principal balance of 20% of the loan, ČSOB offers the possibility of extraordinary payments via smartbanking at a maximum of 1.5% of the principal balance every month.

Current Account Fee

You can have an account at ČSOB bank for 6 or 12 € per month according to the selected package. You can have a free account after you have met the conditions that are eligible. For more information on how to get a free account, see HERE. Bank Mortgage

Conditions for obtaining interest

money

The interest on the mortgage in mBank is explicitly based on the table in its interest rate slip, which reflects the LTV on the mortgage. Plus there is a condition that you must have a turnover of at least 400 € per month in your account.

Fee for mortgage approval

There is a long-term fee for approving a mortgage in mBank € 0.

The possibility of extraordinary installments

20% of the loan principal balance each year. It follows from the law.

Current Account Fee

The mBank account has been free since its inception. € 0 per month is standard. You can read more about the HERE account.

Note on the mortgage in mBank

mBank offers the option of lowering interest on the mortgage if you take out a life insurance policy. You will then get 0.25% less interest. Maybe it looks tempting, but it’s usually not worth it. Insurance through mBank has its limitations and is also expensive. Make more insurance than you save on lower interest.

 

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