Raiffeisen launches credit package in Swiss francs

Credit in Swiss francs, brought onto the market by OTP in the autumn of last year, is being re-launched as a cheaper alternative to credit in RON or euros, now that Raiffeisen Bank, the third biggest bank on the market, has included it in its portfolio. In approximately ten months, OTP sold consumer loans denominated in Swiss francs worth 56.4 million francs (35.7 million euros), in addition to home equity loans worth 119.5 million francs (75.6 million euros). The new funding solution using Swiss currency convinced over 15,000 clients, out of a total of approximately 42,000. Encouraged by the experience of its sister banks in Hungary, Poland and Austria, Raiffeisen Bank Romania this week launched versions in Swiss francs for its main lending products for individual customers. The main element of attraction is the visibly lower interest against versions in euros. For loans to buy or build homes or holiday cottages or to buy land, the nominal interest is 4.9% a year. In the case of credits for non-specified personal needs (including refinancing) with a real estate guarantee – called Flexi Plus – interest stands at 5.9% a year.