Consumer Loans

Loan amount: The maximum loan amount is determined by the monthly income of the creditee. For consumer loans without a mortgage, the maximum loan amount is determined by the bank.

Applicant’s income: different banks have different criteria for determination of applicant’s solvency, both for the income remainder and for proving of income from various sources. Some banks grant a loan without income proof but charge higher interest rates. For cases of unproven income, the banks require one or several warranties, depending on the loan amount.

Loan period: The mortgage loan period varies between 6 months to 10 years, depending on the bank.

Maximum allowed creditee age: The maximum age that the creditee could reach during the loan period is between 58 and 70 years, depending on the bank.

SORTIS Credit offers the following consumer loans:

Consumer loan with a mortgage: a consumer loan for servicing current financial needs that requires a mortgage of property owned by the creditee or third parties, in favour of the bank.

Consumer loan with warranty: this type of loan does not require a property mortgage. Depending on the loan amount, the bank determines the number of warranties required. Consumer loans have higher interest rates compared to mortgage loans and have a shorter pay-back period.

Re-finance of a loan with similar credit parameters: the process of refinancing of loans with similar parameters means granting consumer loans for re-financing of other consumer loans.