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Consumer loan with pledge of monetary funds

Consumer loan with pledge of monetary funds

The standard consumer loan with pledge of monetary funds is provided for the purpose of financing of current needs, education and healthcare costs, purchase of household goods, furniture, purchase of automobile, refinancing of an existing loan etc., in case monetary funds are blocked as a collateral.

  • No requirement for a guarantor;
  • No need to justify the purpose of the loan;
  • No charges for disbursment, management and early repayment;
  • Competitive interest rate levels;
  • Free issuance of international Maestro debit card, protected by chip and use of additional services – MasterCard SecureCode, SMS notification and option to sign up for Asset electronic utility bills;
  • Free activation of the online banking service - Asset Online.
  • Loan amount: up to BGN 147 000 or the equivalent in EUR and
      - up to 100% of the monetary amounts blocked as pledge plus the interest due for a quarter, if the currency of the loan is BGN and EUR;
    - up to 110% of the monetary amounts blocked plus the interest due for a quarter – for currencies other than BGN and EUR;
  • Currency: BGN, EUR;
  • Repayment term: to be agreed;
  • Repayment mode
    - equal annuity monthly instalments, including interest and principal;
    - equal monthly principal instalments and declining interest instalments.
  • Grace period: depending on the client’s preference and at the Bank’s discretion;

The interest rate is fixed, based on the interest rate on the deposit (current account, saving account) + margin of at least 3%.

 

Fees and commissions:

  • For initial acceptance of the documents – BGN 36;
  • For credit analysis – 0%;
  • Monthly service charge for current account – BGN 2;
  • For preparation of an application for registration of pledge in the register under SPA or for preparation of documents for establishment of real pledge – BGN 60.

The APR is 6,23% under a loan of BGN 50 000 for a term of 120 months – under an annuity repayment plan. The calculation is based on a fixed interest rate equal to 6,00%. Monthly instalment: BGN 555.10. Total amount due: BGN 66 768.30.

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