Refinancing vs restructuring?

Refinancing closes the old loan via a new one at another bank with lower APR. Restructuring modifies your existing loan terms (period, rate) at the same bank, no new loan.

When is refinancing worth it?

When APR difference is over 2 percentage points and you have more than 12 months left. Below these thresholds, refinancing costs (closing fee, notary, mortgage valuation) cancel the benefit.

Does restructuring hurt my credit score?

Restructuring you request for optimization doesn't affect score. Restructuring requested by bank for risk (when you can't pay) registers at Credit Bureau as distress signal.

What is NBR cost cap 121-2018?

NBR set via Norm 6/2018 (decision 121) that for loans under 5,000 lei, total costs (interest plus fees) can't exceed 100% of borrowed amount. You must invoke the cap in writing when balance exceeds threshold.

Can I refinance an NBFI loan with a bank one?

Yes, one of the best uses of a personal loan. With 1-2 active fast loans at 250%+ APR and bank-qualifying income, refinancing into one personal loan at 10-12% APR can cut total cost by 60-80%.

Refinancing and restructuring: complete 2026 guide

Refinancing and restructuring are the two main tools for reducing the cost of an existing loan. The practical difference is crucial: refinancing replaces the old loan with a new one at a different institution, restructuring modifies the conditions of the existing loan at the same institution. This centralized guide clarifies what to choose, when and how.

Refinancing: when and with whom

You refinance when the gap in DAE (the annual percentage rate, the total cost measure) between the old loan and the one available now is above 2 percentage points and you have more than 12 months left to repay. Below these thresholds, the refinancing costs (the commission to close the old loan, notary fees on a mortgage, property valuation) cancel the benefit. The simple calculation: the total saving over the remaining period minus the transaction costs must be positive by at least 1.000-2.000 lei to be worth the effort.

The most frequent case of a winning refinance: you took a mortgage in 2019-2021 with IRCC plus a fixed margin, and IRCC rose from 1.5% to 6.1%. Your DAE climbed from 4.5% to 9.1%, while another bank's offer for your current profile would be 6.8%. See the full refinancing analysis and how IRCC works.

Restructuring: when and how

You restructure when you can no longer pay the current installment but want to avoid arrears and negative reports at the Biroul de Credit (the national credit bureau). The bank can offer you: an extension of the term (the installment drops, but the total cost rises), a temporary reduction of the installment (1-6 months at a reduced rate, followed by recovery), a currency conversion (EUR to RON for mortgages, mostly gone since 2017), a capital grace period (you pay only the interest for 3-6 months).

Restructuring requested by you for optimization does not affect your score. Restructuring requested by the bank for risk (when the bank sees you are 30+ days late) is recorded at the Biroul de Credit as a signal of financial difficulty and hurts your score for 2-4 years. Be proactive: talk to the bank before you miss the first installment.

The BNR cost cap for loans under 5.000 lei

BNR set through Norm 6/2018 (decision 121 of 2018) that for loans under 5.000 lei, the cumulative costs (interest plus all commissions) cannot exceed 100% of the borrowed sum. That means: if you took 3.000 lei, your balance can never exceed 6.000 lei, regardless of how many months the repayment lasts or how many penalties appear. The cap must be invoked in writing by you, to the creditor, when you see the balance approaching the threshold.

Bogdan Băicu, 11 years between IFN and banking, former broker at Kiwi Finance: “The most dramatic case I handled in 2019 was a client with a Hora loan of 1.500 lei rolled over 7 times, reaching a balance of 4.800 lei. I wrote to them formally on the basis of Norm 6/2018 that the balance could not exceed 3.000 lei (100% of the original). The IFN (the non-bank financial institution) cancelled 1.800 lei and closed the loan at a maximum balance of 3.000 lei. Many users do not know they can do this. ANPC has a model letter on its website.”

Refinancing an IFN loan into a bank loan: the best case

Refinancing an IFN loan with a DAE of 250-700% into a bank loan at a DAE of 10-13% is one of the best uses of a personal-needs loan. The typical case: you have 2 active fast loans (a total of 6.500 lei) at an average DAE of 280%, the combined installment is 1.450 lei per month. The bank offers you a consolidated loan of 6.500 lei over 36 months at a DAE of 11.2%, an installment of 215 lei per month. The difference: 1.235 lei less per month, the total cost lower by 80%.

To qualify for refinancing into a bank: demonstrable income above 1.700 lei, a score above 500, at least 6 months of tenure with your current employer. The bank requires the FSIEs (the standard information sheets) of the existing loans, a statement from the Biroul de Credit and your latest employment contract. The process takes 3-7 working days. See our refinancing comparator with live rates.

Your mandatory rights

Emergency Ordinance 50/2010 (OUG 50/2010) art. 67 limits the early-repayment commission to 1% over the remaining period above 12 months, 0.5% below, and zero on variable interest. The old bank cannot refuse to close the loan if you pay the sum owed in full. The new bank cannot condition the refinancing on additional products (optional insurance, a credit card, a deposit). See your full rights and how the rates are formed.

The concrete steps for today

Step 1: pull your statement from the Biroul de Credit (free on biroulecredit.ro). Step 2: gather the FSIEs of your active loans. Step 3: apply at the same time to 3 banks (BCR, BT, ING is a good mix) for a refinancing offer. Step 4: compare the DAEs and the total costs, not the monthly installment in isolation. Step 5: pick the offer with the lowest cumulative total cost over the remaining period. See our comparator to begin.