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By · March 20, 2021
5 minute read

Customer news: OTP Bank launches the 100% online personal needs loan in Ron

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OTP Bank continues the digital development strategy of its portfolio by launching a new credit tool, the 100% online Personal Needs Loan in RON, that only takes 30 minutes to approve and to transfer funds.

The online Personal Needs Loan is available to new clients along with the current account package “LeZero”, which includes Current Account, Debit Card, Internet & Mobile Banking, all of which can be obtained through a 100% online platform without the need to go to a bank branch.

For the launch of its online Personal Needs Loan in RON, OTP Bank worked with local start-up FintechOS and OTP Bank’s consulting partner Deloitte. FintechOS’ technology is used for the digital onboarding procedure which enables automatic data recognition (OCR), the retrieval and collection of customer details into OTP Bank’s existing systems, facial recognition and automated analysis and decision making.

“The accelerated process of diversification of the digital offer, started in 2020 with the process of onboarding individuals and the new internet and mobile banking solution, continues in 2021 with new banking products and services available online in the Octavian platform. The need for financing is real, and through the Personal Loan, which can now be accessed 100% online, we meet those who want to become OTP Bank customers and for whom time is valuable. So, we address those who need and want an efficient way to interact with their bank, with a faster financing option, facilitated by the technology behind this product and the advantages of the LeZero package for the current account”, said Roxana Hidan, Deputy CEO and Head of Retail Banking Division, OTP Bank Romania.

In order to apply for credit, customers decide on the loan’s parameters, the desired amount, input the necessary details regarding their financial situation and identification data whereupon the information is verified and confirmed through a video call. The analysis and verification of the client, their declared income and credit history happen automatically and if the answer is positive, the contract is generated instantly and signed electronically.

The approval and delivery of the loan happens in approximately 30 minutes and does not entail any fees or charges for file analysis, credit administration or for opening a current account. In addition, if the client receives their salary in an OTP Bank account, they benefit from a one percentage point reduction in interest.

The “LeZero” current account package, offered to clients who apply for the online Personal Needs Loan, includes a new current account in RON in which the equivalent value of the credit will be transferred, a Mastercard debit card and free access to OTP Bank’s Internet Banking apps (OTPdirekt). The LeZero package has a standard account administration fee of 12 RON/month, but if customers receive at least 1.200 RON every month in their OTP Bank account and make at least one payment every month with the Mastercard debit card, through Mobile Payments, OTPay, Apple Pay or through Internet Banking, the monthly administration fee is waived for all the benefits offered.

The maximum amount that can be accessed through the online personal needs credit in RON is 66.000 RON, over a maximum period of 5 years with a fixed interest rate starting at 7,99% per year. Calculation examples show that for a 45.000 RON loan over 5 years, the monthly interest rate would be 912 RON and the EAR 8,29%.


About OTP Bank

OTP Bank Romania, a subsidiary of OTP Group, is an integrated and self-funded financial services provider. With an approach defined by responsibility, commitment and professionalism, OTP Bank Romania understands the needs of customers and the current market context and is a reliable partner in providing financial services. The bank ranks 9th, according to assets, in the ranking of banking players in Romania, since December 2018.

OTP Group has over 70 years of activity in the financial sector in Central and Eastern Europe, while the Romanian subsidiary has accumulated 16 years of presence in the local market. Promoting innovation, stable growth and integrated financial services, OTP Group has become a dominant player in the Central and Eastern European market and is considered an important banking group even on a European scale. The community of about 40.000 employees serves nearly 19 million customers daily in 11 countries.

About FintechOS 

FintechOS ( provides financial institutions from more than 20 markets, on four continents, with access to state-of-the-art technology that accelerates the digital transformation of customer interactions. 

FintechOS’s core technology allows financial services providers to redefine the customer experience, offering them a complete digital journey through intelligent automation of digital processes. The products and experiences are hyper-customized for each customer. 

Recently, FintechOS was recognised as The Hottest European Fintech Startup of the Year, according to a jury of reputed tech founders, investors and journalists. The title was awarded for the way FintechOS is “helping banks and insurers accelerate digital transformation and build end-to-end digital products in weeks rather than months. In 24 months, FintechOS onboarded 40+ Financial Services clients across the world, with $25bn under management, and opened offices in London, Amsterdam, Vienna and Bucharest.”

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