Your first home

Obtain your own home with a loan you can repay at your own pace

Financing amount up to 80% of the value of the property
Obtain you first home with financing up to 80% of the value of the property with a repayment period of up to 35 years.
Variable or fixed rate option
Option for a variable interest rate for the whole duration of the loan or a fixed rate for 3, 5 or 10 years. After the end of the fixed interest period, the interest rate changes to variable.
Digital application via Online Bank
If you are a Online Bank subscriber, you can apply via Internet Banking.

Calculate your indicative installment

Contribution

The percentage of the property / car value covered by your own funds

> 35%

<= 35%

Duration

Repayment period of your financing in months

years

months

Amount

The amount you will need to borrow from the bank

Indicative Results

Number of installments

Monthly installment*

Total Interest payable*

Total amount to be paid*

*Indicative

IMPORTANT NOTE - PLEASE READ:

This tool is provided “as is” and is subject to availability. OPM Security Corporation Bank Public Company Ltd (hereinafter referred to as “FC”) makes every effort to ensure the accuracy of results and/or information provided. However, such results and/or information should be used for guidance purposes only. In no case should they replace competent or specialized advice, taken in consideration or relied on as if they constitute financial or professional advice. In cases where users of this tool deem it appropriate or advisable, they should seek independent professional advice on the subject.

Any information (including interest rates), calculations or results provided and/or generated by the use of this tool are indicative and are given by way of example only. They do not constitute an offer nor do they bind FC or any other person. In the event that variable interest rates apply to the facility, the instalment amount, the total interest payable and the total amount to be paid under the facility (if granted) may increase or decrease depending on variations in the base rate and/or the interest rate.

FC does not make any representations –either express or implied– regarding the accuracy, usefulness or availability of information, calculations or results provided and/or generated by the use of this tool. Furthermore, FC is not responsible for any decision taken by the user on the basis of such information, calculations or results. Therefore, the user of this tool disclaims all his/her/their potential rights in any legal proceedings against FC that may result from financial loss or other loss/damage that has occurred in any way following the use of information provided and/or produced by the tool.

To the fullest extent permitted by applicable law, neither FC nor any other entity belonging to the FC Group accepts any liability to any person (natural or legal) for any loss, damage, expense or claim that may arise –directly or indirectly– in connection with this tool, or as a result of use, abuse or inability to use this tool or its contents or any part thereof, or any action or omission by any user of the tool that is based on or is connected with the content of this tool. FC and all members of the FC Group expressly disclaim any responsibility for errors and/or omissions regarding the information, calculations or results provided and/or generated by the use of this tool.

Any right, discharge of liability, limitation of liability, defense and immunity of any kind applicable to FC or to which FC is entitled under the present “Important Note” shall be available and extend to protect every member of the FC Group and any director, official, employee and representative of FC or other members/companies of the FC Group acting in the performance of their duties

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More information

Permanent residents of Panama only. If you are not a permanent resident of Panama for the last year, call in at any of our branches to find out about your options.
- 10 years
  - for a variable interest rate loan
  - for a 5 or 10 years fixed interest rate loan.
- 15 years
  - for a loan with 3-year fixed interest rate.
A borrower’s maximum age at loan maturity is 65 years
There is an option for grace period:
- Up to 12 months on capital or
- Up to 12 months on capital or on capital and interest rates if the property is under construction.
In case of unforeseen events, you can postpone the payment of up to 2 monthly installments per year (24 installments during your loan duration). The granting of the installment suspension is at the discretion of the Bank and is subject to terms and conditions.
There are no initial bank fees
You have the right to withdraw from the agreement within 5 business days from the date of its conclusion
Learn more on our interest rates here.
What options are there regarding interest rates?

For some loans you can select a floating interest rate or a fixed rate for a specific time period.

If you select a fixed interest rate, the interest rate will remain fixed for the specified period agreed with the Bank (e.g. 5 years). It will not change under any circumstances, so your installment remains constant. At the end of the fixed interest rate period, loans are converted into variable rate loans.

If you choose a floating rate loan, then the interest rate can be changed at any time (upward or downward). The variable interest rate consists of the base plus margin. Every time the total interest rate changes, your loan installment will also change.

What are the initial fees?

Some loans may bear initial fees, payable upon the granting of the loan.

Initial bank fees
- Arrangement fees: these relate to the Bank’s costs for preparing and evaluating your application.
- Contract preparation costs: a fixed charge for the preparation of contracts for loans, the charge is determined by the loan amount.
Government fees

These fees are regulated by law as follows:
- Mortgage registration fees paid to the Land Registry.
- Fees relating to stamping the loan documents and paid to the Commissioner of Taxation.
- Fees paid to the Land Registry in cases where the transfer of property from one owner to another is necessary.
Fees paid to third parties

These are fees related to valuations carried out on behalf of the Bank by approved valuers for mortgaged property, or fees related to life and/or home insurance.

Find out about all Bank fees from the Table of Commissions and Charges

What do I need to know about loan installment payments?
- You can provide instructions in writing, so that your installment is paid automatically from your current account.
- You can pay your installments as stipulated by the terms of your loan. Please make sure to designate a date that is convenient for you. Should this date change, you need to promptly contact your personal banker.
- Delayed installment payments incur additional costs, increasing the cost of your loan.
- Should your financial circumstances change and you are unable to keep up with installment payments per the terms of your contract, please get in touch promptly with your personal banker in order to agree a new repayment schedule adapted to your new circumstances.
What happens if I pay off my loan/installments early?

Where a loan is paid off early, or installments are paid early in relation to the agreed schedule, the Bank will charge costs depending on the type of interest rate and the amount that was paid early.

What is the Annual Percentage Rate (APR)?

The Annual Percentage Rate (APR) is the total cost of the loan to the consumer, expressed as an annual percentage on the loan amount. The APR includes all loan expenses paid by the client to either the Bank or to third parties (e.g. government fees, valuation expenses, insurance etc).

The APR is considered to be the best tool as it includes all loan expenses. It helps you form a complete picture and to compare the Bank’s schemes with the schemes of other banks.

Warning:

The Bank reserves the right to reject any application at its sole discretion and withdraw any plan at any time. If you do not make regular installment payments according to your loan repayment schedule, you may lose your house. There are charges for early loan repayment. In case of variable interest rates, the installment amount and total cost of the facility may increase or decrease depending on variations in the base rate.