Consumer Loan Moments of Happiness

Amount

According to limits approved on the basis of contributory income:

• BGN 1,000 to 60,000 – for loan applicants with the maximum contributory income from permanent employment or regular work carried out without an employment contract or on management and supervision contract.
• BGN 1,000 to 30,000 – for loan applicants with an contributory income below the maximum from permanent employment or regular work carried out without an employment contract or on management and supervision contract.

Interest rates

For loan applicants with the maximum insurable income

• For the remaining period – variable interest rate composed of the base interest rate (BIR) for the relevant calendar month + a fixed surcharge of 5.10%, on an annual basis.

For loan applicants with an insurable income of BGN 1,400 or above

• For the remaining period – variable interest rate composed of the base interest rate (BIR) for the relevant calendar month + a fixed surcharge of 5.60%, on an annual basis.

For loan applicants with an insurable income below BGN 1,400

• For the remaining period – variable interest rate composed of the base interest rate (BIR) for the relevant calendar month + a fixed surcharge of 6.60%, on an annual basis.

Collateral

Payment of salary into an account with the Bank + pledge of salary/direct debit of more than 1.5 times the loan payment due and a first-ranking pledge on all current and future cash received into the bank account

APR

For example, for a BGN 60 000 loan with an 84-month term, with equal monthly instalments, at a variable interest rate of 5.10% for the duration of the loan, consist of the base interest rate (BIR) for the relevant calendar month + a fixed surcharge of 5.10%, on an annual basis, monthly loan payments of BGN 852.78; application fee: BGN 100, account opening fee: BGN 2.00; monthly account maintenance fee: BGN 3.00 – The annual percentage rate is 5.46% and the total amount repaid is BGN 71 987.44.

Тhe APR does not include the cost of insuring evaluating and pledging the collateral.

In the example, the BIR is assumed to be zero.

Charges

For initial review of standard application documents and preparation of an opinion on those documents:

• BGN 50 (in two payments: BGN 20 on application submission and BGN 30 on contract signing) for loans of up to BGN 30,000.
• BGN 100 (in two payments: BGN 50 on application submission and BGN 50 on contract signing) for loans of BGN 30,001 to 60,000.
• Account opening: BGN 2.
• Monthly account maintenance fee: BGN 3.