Eligibility requirements for solo personal loan
☑️ Be a citizen of Georgia aged between 20 and 70 years old
☑️ Minimum monthly income of 400 GEL
☑️ For unsecured loans, the limit is up to 75,000 GEL
☑️ For secured loans, the limit is up to 140,000 GEL
☑️ Meet the bank’s credit evaluation criteria
Required documents for application
📄 Valid ID or passport
📄 Proof of income (salary slip, rental income, or remittance statement)
📄 Bank statements if required by the bank
📄 Proof of residence (utility bill or official statement)
Approval depends on meeting the requirements, and the bank may request additional documents if necessary.
How to apply for Solo personal loan
Applying for Solo personal loan is simple and can be done online or at a branch. Customers must fill out an application form, providing personal details, income proof, and loan amount preference. The bank assesses the request based on the borrower’s creditworthiness, and once approved, funds are disbursed.
Unsecured loans can be issued quickly, while secured loans require collateral assessment. Approval is subject to the bank’s evaluation, and if denied, the applicant can reapply after improving their financial profile.
How to pay monthly installments for Solo personal loan
Loan repayments can be made through online banking, ATMs, or in-person at bank branches. Borrowers can select a repayment date that fits their financial schedule.
Payments should be made on time to avoid penalties, and early repayments are possible, although they may be subject to additional fees.
Taxes and costs
Solo personal loan has associated costs that borrowers must consider. A loan issue fee of 2.5% (minimum 40 GEL) is charged. Interest rates start at 9%, with an effective rate beginning at 18.5%. If repaying from another bank or using own funds, an early repayment fee applies, ranging from 0% to 2% based on the remaining loan term.
Late payments result in a 20 GEL penalty on the first overdue day and a daily charge of 0.5% of the outstanding amount, subject to legal limits. Withdrawal fees range from 0% to 0.6% depending on the conditions.
A tip for your budget
To make the most of Solo personal loan while minimizing costs, it is important to choose the shortest repayment term possible, as this helps reduce overall interest expenses. Borrowers should also consider paying more than the minimum required whenever possible to lower the outstanding balance faster.
Understanding early repayment terms can help avoid unnecessary fees for settling the loan ahead of schedule. Additionally, selecting a loan currency that aligns with your income source can help prevent unexpected losses due to exchange rate fluctuations.
Want to secure financing?
Click below to visit the official bank website and explore loan details, eligibility, and the full application process. Get started today and access the financial flexibility you need.