Due to the high public interest, we are offering an additional clarification that commercial banks are prohibited from charging customers prepayment fees for lari translations of foreign currency loans.

 

More specifically, if the refinancing of a foreign currency loan is done to transfer (convert) the loan to lari, according to the resolution of the NBG, commercial banks are prohibited from charging an individual an early repayment fee, penalty or any fine sanction for refinanced foreign currency loans.

 

The said instruction also applies in cases where refinancing is done with a loan taken from other commercial banks.

 

Let us remind you that this restriction is valid from the beginning of 2017. For additional questions, please contact the hotline of the NBG: 2 406 406.