History of the building society
Raiffeisen stavební spořitelna was founded in 1993 as the first ever building savings bank in the Czech Republic. For more than 28 years, it has been providing clients with building savings, housing loans and, currently, comprehensive financial advice based on a balanced and diverse range of financial products.
Basic mortgage parameters
At Raiffeisen stavební spořitelna you can arrange a mortgage from CZK 50 000, with no upper limit on the loan. The maturity of the mortgage loan is from 2 to 30 years. The mortgage can be repaid up to the age of 72. The mortgage loan is granted up to 90% LTV. Clients do not have to set up an account with the building society and can repay the loan from any of their accounts.
Advantages of a mortgage with Raiffeisen stavební spořitelna:
- Free and unconditional account management
- The mortgage is always based on the age of the youngest applicant (note: even when parents join the loan)
- This is a good bank for construction because the first 50% of the loan amount is drawn by the bank up to 120% of the current mortgage value, i.e. the client gets extra money for a certain period of time.
Discounts provided
- 0,05 – 0,15 % – discount for repayment capacity insurance from Uniqa insurance company
- 0,10 % – discount for non-clients of Raiffeisenbank when repaying from the account
Insurance
| Insured perils | TOP* | PLUS* | BASIC* | Sum insured | Type of insurance | Fictional/ authorised person |
| Death | YES | YES | YES | Current debt | Circulation | Insured person |
| Grade III disability | YES | YES | NO | Current debt | Circulation | Insured person |
| Incapacity for work | YES | NO | NO | Loan repayment | Circulation | Insured person |
Incapacity for work insurance
An insured event is a work incapacity of the insured lasting at least sixty calendar days that occurs during the insurance period. In the event of an insured event, the beneficiary shall be entitled to an insurance benefit in the amount of one monthly instalment of the loan at the time of the insured event, up to a maximum of CZK 100,000, for the first sixty consecutive days of incapacity for work and for each additional thirty consecutive days of continued incapacity for work of the insured.
Death of the insured
An insured event is the death of the insured that occurs during the policy period. In the event of the occurrence of an insured event, the insured person shall be entitled to an insurance benefit in the amount of the current debt payable on the date of the insured’s death. The person entitled to the insurance benefit is the policyholder.
Third degree disability
The insured event is the occurrence of third degree disability of the insured which occurs during the insurance period. In the event of the occurrence of an insured event, the beneficiary shall be entitled to an insurance benefit in the amount of the current debt payable on the date of the occurrence of the third degree disability of the insured. The person entitled to the insurance benefit is the policyholder.
Fees*
- Loan processing: from 0 to 10 000 CZK (note depending on LTV)
- Estimate of the mortgaged property: from 3 800 CZK
- Credit drawdown: 0 CZK
- Each additional drawdown: 0 CZK
- Express withdrawal: 0 CZK
Note: * as of 25.11.2021
