ProCredit Bank joins the State Mortgage Subsidy Programme

ProCredit Bank has now joined the State Mortgage Subsidy Programme, which aims to support the real estate development business as well as increase access for private individuals to real estate.

The government beneficial scheme, which offers clients looking to improve their living conditions a variety of benefits, co-finances the interest rate of the loan issued for the first 5 years and participates in the collateral pool of applicants who cover 10% of the value of the property they wish to purchase with their own funds.

The maximum loan limit under the Subsidy Programme is GEL 200,000 (disbursed in GEL) and the application deadline for the Programme is 31 December 2020.

Please note that the Subsidy Programme is only available to Georgian citizens wishing to purchase an apartment from a construction company and does not cover the purchase or construction of a private home or cottage. Those interested in building a home, can apply for financing through ProCredit Bank in three currencies: GEL, USD and EUR. ProCredit Bank representatives are trained to evaluate the specific needs of each client and offer customised terms and conditions.

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