History of the bank
MONETA Money Bank was established in 1998. In 2016, following GE’s decision to sell all of its financial divisions, the Czech GE Money Bank went public and became the purely Czech MONETA Money Bank. MONETA doubled its share of the mortgage market in April 2020. The bank also originates non-purpose U.S. mortgages or can consolidate existing loans with a secured mortgage. In 2020, Moneta acquired the Wüstenrot financial group.
Basic parameters of mortgages
With MONETA Money Bank you can arrange a mortgage from CZK 300,000, with no upper limit. The total term of the mortgage can be from 5 to 30 years. The mortgage loan can be repaid up to the age of 70. The mortgage is granted up to 90% LTV.
Advantages of a mortgage with MONETA Money Bank:
- Flexible repayment of up to 50% of the current mortgage amount each year
- 30% of the total amount borrowed can be used for whatever you want
- There are no fees for arranging and maintaining the mortgage
- The bank offers a mortgage with a savings credit of up to CZK 200,000. The client thus pays less interest if he keeps this financial reserve in the account.
- Business-oriented bank
Discounts provided:
- 0.50% discount for using the bank account
- 0.20% discount for repayment capacity insurance
Terms and conditions of a mortgage from MONETA Money Bank:
- The only condition is a turnover of 15 000 CZK, otherwise everything is free, no debit operations are required
- Free withdrawals from MONETA Money Bank ATMs
Insurance
The price is based on the repayment of the mortgage loan.
Option 1: incapacity for work, death, third degree disability, nursing a family member, loss of employment. Price – 8.99% of the instalment.
Option 1+1: incapacity for work, death, third degree disability, nursing a family member, loss of employment (note: applies to two persons insured under a mortgage loan). Price – 16.19% of the instalment.
Fees*
- Loan processing: free of charge
- Estimate of the mortgaged property: 2 000 CZK
- All drawdowns (note and first drawdown): 500 CZK
- Express drawdown: 1 000 CZK
Note: * as of 25.11.2021
