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Flexible Mortgage- Unprecedented Offer by Bank Republic Société Générale

Published: December 24, 2012 | 12:45 pm
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Bank Republic Société Générale Group, along with different segment-oriented projects, with newly launched Flexible Mortgage now offers best conditions on mortgage loans, which is the most demanded banking product during the pre-New Year period.

Winter holidays incite people change interior and fill their place with light and merry colors. To everyone, who is willing to create their dream living environment and need funding for renovation, construction or real estate acquisition, Bank Republic Société Générale Group offers two types of mortgage loans, letting them choose best suitable loan conditions themselves.


According to Giorgi Samadashvili, Head of Product Development Department at Bank Republic Société Générale Group, the unique feature that makes Bank Republic Société Générale Group’s new mortgage loan unprecedented is that thus far no other bank has offered such flexible mortgage lending conditions to physical persons.


Bank Republic Société Générale Group consumers have an option to choose from the bank’s two types of mortgage lending offers. With Flexible Mortgage loan consumers get the interest rate that is lower and more flexible than the standard mortgage loan rate while with My Place they get stable interest rate guaranteed.


“The main difference between these two types of mortgage products is that Flexible Mortgage is cheaper. Currently it costs 1.5% less than My Place,” Samadashvili told The COMMERCIAL TIMES.


Flexible Mortgage loan interest rate depends on the London Interbank Offered Rate – LIBOR. Consumers get special discount in this case. If LIBOR % increases and exceeds the standard mortgage loan rate, you can move to the standard mortgage loan interest rate at any time. However, it will be impossible to return back to the flexible mortgage loan terms.


“Flexible Mortgage interest rate changes every six months. However, we take care of our clients and let them move to May Place loan interest rate after which fixed interest rate will be valid till the loan maturity date,” noted the Head of Product Development Department at Bank Republic Société Générale Group.


Interest rate of Flexible Mortgage Loan changes every 6 months and remains unchanged for the next 6 months. Information on new interest rate will be provided at the bank’s branches. Bank Republic Société Générale Group is the only bank in Georgian market that provides this kind of mortgage loan.

Flexible Mortgage Loan Terms are as follows:

Currency: USD


Amount: From USD 50.000 – unlimited

Term: Up to 15 years

Minimum income: 3000 GEL or equivalent in foreign currency

Insurance rate: 0.50 %

Approval fee: 1.50%

Service fee: 0%.

Interest Rate: 9.73%


“Mortgage offer by Bank Republic Société Générale Group with new conditions is not a part of a concrete period campaign, it will last for an unlimited period of time,” said Samadashvili.

With Bank Republic Société Générale Group claims that with Flexible Mortgage their consumers will get the best conditions on the local market for spending winter holidays in refreshed living atmosphere.



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