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)
Home equity loan
- Loan amount depends on client's financial situation and collateral
- Interest rate considered individually
- Repayment term – up to 15 years
- Agreement fee – 0,4 % of loan amount (min. 200 Eur)
Home loan and home equity loan typical example for calculating annual percentage rate
If a loan of EUR 100,000 secured by real estate collateral is granted for the period of 25 years and 300 loan instalments based on the annuity method will be made, the total amount to be paid by such borrower will make EUR 170,326.84, monthly instalment – EUR 559.60. The annual percentage rate will make 4.83 per cent. Annual percentage rate showing the total cost of a loan is calculated by including the below instalments made within the entire loan period:
- 4.5 per cent yearly variable interest
- EUR 400 agreement fee
- EUR 8.6 mortgage (pledge) registration fee
- EUR 1 per month minimum fee for main banking services
- EUR 70 dwelling insurance annual premium
Note. Property valuation costs and the commission for the services provided by a credit intermediary are not included.
Annual percentage rate and the total amount to be paid by the borrower are calculated considering that the loan is disbursed on the agreement signature date and that the terms of the agreement, interest rate and fees do not change within the entire loan period, and the terms and conditions of the agreement are timely implemented. If you fail to fulfil or unduly fulfil the terms of the loan agreement, the risk exists that you may be deprived of the ownership right to the pledged real estate. The mortgaged real estate must be insured in favour of the bank during the entire loan period.
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.
