Consumer loan
- Credit amount from 500 Eur to 40 000 Eur
- Interest rate from 7,9 %
- Repayment term from 12 months to 7 years
- Agreement fee – 1,5 % of credit amount (min. 50 Eur)
Car lease
- The minimum price of a car 8 000 EUR
- Interest rate considered individually
- Term of lease up to 7 years
- The first deposit starting from 10 proc.
- Agreement fee is from 1% of the asset value, but not less than EUR 200, if applied on-line. From 1% of the asset value, but not less than EUR 250, if applied at bank
Example of calculating the annual percentage rate of charge
If you received a EUR 5000 consumer loan in euros for 5 years, the total amount payable by the consumer would be EUR 6529.79 monthly payment will be EUR 106.61. The amount includes the consumer loan interest paid over the loan maturity (10 % interest rate was applied) the administration fee EUR 75 and the account maintenance fee EUR 1. In this case the annual percentage rate of charge would be 11.80%. The annual percentage rate of charge and the total amount to be repaid by the borrower are calculated considering that the loan is disbursed on the agreement signature date, and that the terms of the agreement, the interest rate and fees do not change during the entire loan term, and the terms and conditions of the agreement are timely implemented. The annual percentage rate of charge is provided to help you compare different offers.
Car leasing example of calculating the annual percentage rate of charge
Say, you are getting a leasing on a car priced at EUR 30 000 and you pay the car seller a down payment of EUR 6 000 from your own funds, so the total amount of credit would be EUR 24 000, total amount payable by the consumer would be EUR 27 384,42. Total cost of the credit to the consumer (calculated by including leasing interest paid over the leasing maturity (EUR 3 024,42), the agreement fee (EUR 300), the minimum fee for main banking services (EUR 1 per month)) would be EUR 3 384,42 assuming that the leasing period is 5 years, currency - euros, the variable interest rate -4,772 proc., consisting of 2,29% margin + 3 month Euribor (3 month Euribor value on calculation day is 2,482 proc.). The annual percentage rate of charge would be 5,51 %, monthly instalment – EUR 450,41. The customer has also an obligation to insure a car at the insurance company acceptable to AB SEB bankas under the terms set in the leasing agreement (the insurance price is not included in the annual percentage rate of charge). In case of a negative Euribor it will be treated that Euribor is equal to zero.
