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New wording of the CSOB Business Terms and Conditions
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Basic Changes in Payments Effective from November 2009
On November 11, 2009 a new version of Law No. 284/2009 Coll., on Payments will become effective. ...

PIN to payment cards to be changed in ATM
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CSOB Mortgage for Cooperative Housing

The mortgage for investing in a flat in cooperative ownership is intended for citizens of the Czech Republic and the European Union, or persons with permanent residence in the Czech Republic who are older than 18 years of age. The credit is secured with a right of lien to real estate in the Czech Republic.

Benefits

You do not have to have any savings. We will loan you funds of up to 100% of the value of the lien of the immovable. When setting up the mortgage, we will also guarantee an interest rate for 30 days. Thus, you will have time to set up everything you need with the certainty will stay the same, even if the rates on the market increase in the meantime.

Other merits include:

service at a single location - consultation, insurance, and real estate appraisals (including the possibility of express valuation of the value of residential units using "price maps" right at the CSOB branch),
you pay a fee for processing the application only in the event of the mortgage being provided,
express handling of applications with no fee,
option of a discount from the interest rate of up to 0.25%,
30 day guarantee of interest rate with fixation (validity) of the interest rate for 1, 3, or 5 years,
mortgage repayment within 5 to 40 years,
extra payments or premature repayment of the mortgage is possible at any time with no contractual fine,
express handling of applications with no fee,
possibility of writing off up to 300,000 CZK annually in payment interest from your tax base,
back payment of invoices relating to the purpose of the mortgage - these funds may be used for anything,
when the loan is drawn on for construction or reconstruction of real estate, we can credit funds from the loan directly to your account. You prove the use of the funds to the bank only afterwards.

When arranging a mortgage directly in the branch:

We will arrange mortgage repayment insurance (which covers the risk of death, permanent disability resulting from an injury, inability to work and loss of employment).
Moreover, you can also conclude real estate insurance or household insurance.

Get Acquainted

The mortgage can be received for the purpose of:

purchasing cooperative shares,
reconstruction or modernisation of a co-operative flat,
financing prepayment of rental on residences for which a state programme subsidising residential construction was used during reconstruction,
combination of the above-mentioned purposes.

Other characteristics include:

Security - security always with a right of lien to an immovable in personal ownership to the credit of the bank. The pledged immovable must be within the Czech Republic and must be insured against natural disasters and other risks. a co-operative flat or a share in a housing co-operative cannot be used as security.
Amount - the minimum amount is 200 000 CZK, the minimum amount is determined by the value of the pledged immovable (up to 100 % of the lien value of the immovable), the amount of the investment, and the ability of the client to repay.
Use - one-time.
Repayment - Annuity - throughout the term of the validity of the interest rate you will always pay the same amount, which includes the principal and interest.
Term - mortgage repayment within 5 to 40 years.
Interest rate - fixed for a period of 1, 3, or 5 years, depends only on your selection.

Terms of Use

you can get this loan if you are older than 18 years of age or if you are not older than 70 years of age as of the day of final repayment,
you must have income from gainful activity or business enterprise, or other income recognised by the bank,
married couples, parents and children, relatives, partners, and persons in the relationship other than kinship can request the loan together, however they may be no more than four applicants from two households.

Any of our branches will provide you with the credit application and detailed information regarding your specific case and the necessary documentation for reviewing applications.

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