Redaction Czech loan | 05.02.2023

Consumer loan for foreigners

Foreigners, with czech resident or not, can legally get own consumer credit from commercial bank.

Retail banks offer different type of private credits, the most popular are “Consumer loan for anything“, “Loan for housing“, Car credit” and “Consolidation” of old loans. “Mortgage loan„ represents the best product how to finance purchase of real estate property for own living.

Credit range:
Consumer loan for anything – there is no requirement of bank to prove how money will be spent, quick settlement up to 2 days, maximum amount 800.000 CZK, maturity 8 years, thehighest interest rate. 
Loan for housing –
for investment in the real estate, e.g. for reconstruction, requirement declare purpose of using money, settlement up to 5 days, maximum amount 1 mil. CZK, lower interest rate, maturity up to 10 years. 
– consolidate several old loans an reduce current expenses in one monthly payment, lower interest rate based on credit history, maturity up to 10 years. 

Basic rules:
There is general overview of elementary bank conditions how to get consumer credit, each bank can has additional individul conditions e.g. minimum income. 

Basic rules for non-residents to be accepted:
– Provable income in CZK currency (regular monthly salary witch tax domicil in Czech Republic, ideally unlimited employment contract or limited empl. contract longer then one year)

– or be married with czech partner having income in Czech Republic

– or has co-applicant with the income in Czech Republic

The best way how to apply for credit is to use one of the top traditional international bank however some small czech bank can offer individual benefits.

consumer loan is a type of loan that is typically used by individuals to finance personal expenses, such as a car, a home renovation, or to pay for education. Consumer loans can be secured or unsecured, depending on the lender and the borrower’s creditworthiness.

Consumer loans can be obtained from a variety of sources, including banks, credit unions, online lenders, and peer-to-peer lending platforms. The terms and conditions of the loan, including the interest rate, repayment period, and fees, vary depending on the lender and the borrower’s creditworthiness.

Secured consumer loan
A secured consumer loan requires collateral, which is usually an asset such as a house or a car that the borrower owns. If the borrower fails to repay the loan, the lender can seize the collateral to recover their money. An unsecured loan, on the other hand, does not require collateral, but the interest rates tend to be higher, and the borrower’s creditworthiness plays a bigger role in the approval process.

We intermediate consumer loans only from traditional banks acting on Czech market!

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