Non-indexed loans can have variable interest rates or fixed interest rates for 36 months at a time. Both mortgages with equal payments (amortised mortgages) and mortgages with equal instalments on the principal are available.

Variable interest rates can be subject to change several times a year. 

If your loan has a fixed interest rate for 36 months you will receive a notice at least 30 days before a change is made to the interest rate, as provided for in Art. 35 of Act No. 118/2016 on Consumer Mortgages.  If you take no action, the new interest rate currently offered on such loans will be fixed once more for the next three years. Information on current interest terms is available on the pension fund's website. Otherwise, you have the option of converting to another type of loan at this point in time without paying a borrowing charge.

What's the difference between equal instalments and equal (amortised) payments?

Equal payments

If a loan is amortised, the payments you make will be equal throughout the repayment period.  On the other hand, the relative amount of the instalment on the principal and the interest paid will change.  The principal decreases more slowly than if equal instalments are paid.

Equal instalments

For loans with equal instalments, the amount paid towards the principal in each payment is the same. The debt service is therefore greatest at the beginning, but decreases as the loan term progresses.