Bank guarantees

Forint or foreign currency bank guarantee

A bank guarantee is OTP Bank’s independent assumption of obligation to ensure the fulfilment of the payment and performance obligations of your company. OTP Bank shall, under the conditions specified in the bank guarantee statement, effect payment to the beneficiary. Unless stipulated to the contrary, the bank guarantee is irrevocable.

The most frequently requested bank guarantees are as follows:

  • payment guarantee,
  • advance repayment guarantee,
  • loan repayment guarantee,
  • good performance bank guarantee,
  • tender guarantee,
  • bidding guarantee.

How does it benefit your company?

A bank guarantee is OTP Bank’s independent assumption of obligation to ensure the fulfilment of the payment and performance obligations of your company. OTP Bank shall, under the conditions specified in the bank guarantee statement, effect payment to the beneficiary. Unless stipulated to the contrary, the bank guarantee is irrevocable.

The most frequently requested bank guarantees are as follows:

  • You can request FOREXFOREX guarantee for both export and import transactions. Furthermore, the service includes the provision of a foreign language version of the text of the guarantee and its being communicated via the bank of the beneficiary (i.e. your business partner).
  • An assumption of guarantee obligation by an internationally recognised commercial bank may beneficially affect contractual conditions and the judgement that your business partners form on you.
  • In the case of deposit collateral the interest on the time deposit or return on securities is higher than the amount of the guarantee fee.
  • In the case of EU tender procedures OTP Bank’s guarantee is issued in accordance with conditions stipulated in the invitation to tender.

Terms and conditions

  • Term: short- or long-term

Special bank guarantee - Eximhitel guaranteed by OTP Bank

"Eximhitel" guaranteed by OTP Bank

Secured on OTP Bank’s assumption of bank guarantee, an export pre-financing loan is granted – within the framework of a simplified procedure – by EXIMBANK Zrt. to business entities. The Ministry of Economy and Transport provides interest subsidy and guarantee fee support for the loan and the bank guarantee respectively.


Eligible applicants

Domestic incorporated entities with

  • the balance sheet total not exceeding HUF 2,700 million,
  • the headcount not exceeding 250 persons (depending on the nature of the business activity, departure from this is allowed in justified cases),
  • net sales revenue not exceeding HUF 6,000 million,
  • the financial data of its majority owner (holding over 50% of the company’s shares) complying with the above restrictions,

and which

  • has a valid export contract,
  • applies for a loan to finance exclusively the production of goods with a certificate of Hungarian origin and the related services provision,
  • provides evidence that it has no outstanding public dues, is not under bankruptcy, insolvency or liquidation  and that it has met its obligations under the contract with the sub-systems of the central budget.

Restrictions on use

  • The client is entitled to interest subsidy and guarantee fee support for 6 months.
  • The client may apply for Exim loan once a calendar year.

Characteristics of the bank guarantee

  • Expiry date of guarantee: 10th working day following the expiry date of the "Exim loan"
  • Guarantee fee: max. 3% p.a.
  • Amount of bank guarantee: HUF 10 - 200 million

How to apply?

  1. The client submits his request for the loan to the commercial bank that provides the guarantee.
  2. Eximbank undertakes that if the loan application of the client keeping his account with OTP Bank is backed by OTP Bank’s bank guarantee, it disburses the loan under more favourable conditions.
  3. Eximbank decides on the approval or otherwise of the loan and the interest subsidy within 5 working days from receipt of the loan application (form) stipulated by it.


Terms and conditions offered by Eximbank

  • Subsidised loan amount: forint or foreign currency amount corresponding 75% of the sale and purchase contract,
    but min. HUF 10 million and max. HUF 200 million or its equivalent in foreign currency
  • Foreign currencies of the loan: USD and EUR
  • Interest rate:
 Below HUF 100 millionOver HUF 100 million
In the case of a FOREXFOREX loan6-month USD or EUR LIBOR + 1.2% p.a.6-month USD or EUR LIBOR + 1% p.a.
In the case of a HUF loan6-month BUBOR + 1.2% p.a.6-month BUBOR + 1% p.a.
  • Proportion of interest subsidy:
    In the case of a FOREXFOREX loan: 50% of the interest payable
    In the case of a HUF loan: 30% of the interest payable
  • Handling charge:
    0.5% of the envisaged interest subsidy of the requested loan, but at least HUF 5,000
    in the event that both interest subsidy and guarantee fee support are provided, 0.1% of the aggregate amount
  • Term of loan: adjusted to the validity period of the sale and purchase contract, but max. 12 months
    (in justified cases 18 months)
  • Interest subsidy period: max. 6 months
  • Subsidy on the guarantee fee: 50% of the guarantee fee due in the first 6 months
  • Payment of the guarantee fee: the client must pay the amount less the support
 

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If you have any questions, you can contact us by e-mail at information@otpbank.hu!

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