Debt Consolidation Loan

What you gain

Debt Consolidation Loan in Bank Millennium offers convenience and financial freedom:

  • 0% commission for granting the loan and earlier repayment (APR 4,60%)
  • one convenient instalment instead of many
  • flexible repayment period, from 3 to 30 years
  • financing up to 80% of property value
  • credit holidays once a year
Contact our credit specialist


The target loan collateral at Bank Millennium are:

  • mortgage on residential property entered in the first place in favour of Bank Millennium
  • assignment of rights from the insurance policy against fire and other accidents
  • assignment of rights from the borrower’s life insurance policy with the Bank as the only beneficiary

Until mortgage is established a so-called interim loan collateral is set up. At Bank Millennium a standard interim collateral is a commission for increased risk collected until the mortgage is established.

Remember! The target loan collateral may be also a mortgage on the property other than that financed with the loan, owned by you or a third party.


List of required documents

  • For filing a credit application

    • Application for information about the loan
    • Documents confirming your identity (ID or passport)

  • Property documents

    • value estimate of the property
    • preliminary sale-purchase agreement or preliminary agreement on financing construction of a housing unit/single-family house
    • in case of purchase of a flat from developer, statement of the substitute investor is required Download

    Additionally, when constructing a house, the following can be required:

    • construction cost estimate Download
    • refurbishment cost estimate Download
    • final construction/extension permit or construction notification
    • map extract from land register or copy of cadastral map
    • extract from land register
    • certificate or extract from spatial development plan confirming allocation of the properties

  • Documents for verification of credit capacity

    • Employment and income certificate Download
    • Employment and income certificate (English version) Download
    • Extracts from the current account for the period of the last 3 months

Price list and regulations

Cost of loan and legal note

Fees, commissions and interest rate are defined in the Mortgage Loan/Home Equity Loan Price List. The details of the principles and conditions for granting mortgage loans/home equity loans are stipulated in the Credit Regulations for individuals within mortgage banking at Bank Millennium S.A. The Regulations and Price List are available at the Bank’s branches and website. Before granting Loan/Home Equity Loan, the Bank assesses the Borrower’s credit capacity and credibility on a case-by-case basis; in justified cases the Bank may refuse to grant a loan.

Annual Percentage Rate (APR) is 5,74% and was calculated at WIBOR 3M 1,73% (as at 30.06.2017). Total mortgage loan (without costs financed with the loan) is 170 000 PLN, total amount to be paid by the consumer is 313 741,37 PLN, variable interest rate 5,08%, total cost of mortgage loan 143 741,37 PLN (including: commission for loan granting 0 PLN, interest 130 523,77 PLN, commission for increased risk until mortgage entry is made in the land and mortgage register for 6 months 852 PLN, property insurance against fire and other accidents according to the offer available through the Bank 5 400 PLN, life insurance according to the offer available through Bank 6 166,60 PLN, fee for valuation of the property 480 PLN, PCC/tax on civil law transactions and court fees for establishment and deletion of mortgage – total of 319 PLN), credit period 25 years, loan instalment 1 001,74 PLN, number of instalments 300. The calculation was performed as at 01.07.2017 on a representative example assuming that the loan will be secured with a mortgage on the newly purchased property, whereas the value of the property to secure the loan is 245 000 PLN, credit margin is 3,35% as the Client holds Konto 360° account, under the condition of monthly inflow of remuneration or another net income to this account and holding a debit card to this account, and performing with this card non-cash transactions in the amount of min. 500 PLN per month. In case of Konto 360° account, this account is then kept by the Bank free of charge and the fee for the debit card to this account is 0 PLN.

In case of loans with variable interest rate, a standard offer on the Polish market, there is a risk of changes in the interest rates. The risk of changes in the interest rates means that if the reference rate goes up, the interest rate of the loan will be higher, and then the monthly principal-interest instalment will increase, which will consequently result in increase in the cost of interest and thus, increase in the total cost of the mortgage loan. The Client may present property insurance or life insurance – from outside the offer acquired through the Bank – concluded with an insurer from the list published by KNF.

More details

For detailed information contact your nearest Bank Millennium Financial Centres