Homeloan / Interest Rate (Debit / Credit)

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Dolby1980 Member

Member since 11 August 2019

Dolby1980Member22 September 2019 07:52:30

Just interested in how home loans work, in general ?

In my country, we're looking an average of 20 years @ 12% interest rate. It is possible to go 25 or even 30 years, but on average people take it over 20 years.

Is Malta the same or similar ?
What about buying a car or credit card or loan?
Debit interest rate in general is fairly low ?

Also, if one manages to open a savings account and saves cash - do you get some interest there ?

GozoMo Malta Expert

Member since 29 September 2015

GozoMoMalta Expert22 September 2019 08:24:55

2173

If you intend moving here it鈥檚 advisable to rent first to ensure you do like it and it also gives you time to decide on an area that suits you.

volcane ViP

Member since 03 November 2015

volcaneViP22 September 2019 11:00:01

1072

You will pay 20 to 30% deposit as a new person in the country then 3 to 4% interest over similar period.

emoto New member

Member since 16 January 2019

emotoNew member27 September 2019 22:52:06

For a credit card BOV would want you to be full time employed and give them a "deposit" of 1200 euro in order to give you 2000 euro credit card. Pretty much they give you your own money to use, and you are going to pay interest (eventually) on your own money Some things are really absurd in Malta but it is what it is.

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