Consumer credits

Consumer credit can be provided for ongoing personal, family or household needs (education, rest, treatment, repair, car purchase, household equipment, etc.). Consumer loans may be unsecured or secured – with payroll, a guarantor (co-debtor) or with cash collateral. Unsecured loans are approved on the basis of the customer’s credit history and after an assessment of his financial ability to repay the loan. 

Features

Term

Usually, consumer credits have a minimum maturity of one year and a maximum term of 10 to 12 years.

Minimum size

According to the offers of the different banks, usually not less than BGN 1,000.

Maximum size

According to the offers of the different banks, usually up to BGN 40,000, if certain requirements are met up to BGN 75,000.

Type of interest rate

• Fixed for different periods, according to the proposals of the different banks – 6 months, 1 year – up to the whole credit period
• Variable – formed by different market interest rate index, but most often 3 or 6 months SOFIBOR / EURIBOR plus allowance from the bank

Interest rates

The price parameters are based on::

• Size and term of the credit
• Customer’s insured income
• The existence of a transfer of salary or monthly repayment installment in the respective bank
• The presence of additional products that the client will use in addition to the credit

Collateral

No collateral, but at the discretion of the bank could be required such – usually co-debtor or guarantor.

It is subject to individual judgment based on the client’s risk profile.

Fees and commissions

The main ones are:

• Fee for processing the credit application – different in different banks
• A monthly fee for maintenance of a current account for servicing the credit (may be included in a package with other products)
• Insurance premium

Insurance

Consumer credit insurance is not mandatory but provides better interest rates. The use of insurances is advisable because, in the event of adverse events, the debt will be extinguished temporarily or wholly by the insurer.

Insurance coverage is different, according to the bank’s offer.

We will help you compare interest rates, fees and final cost (The Annual Percentage Rate of Charge – APRC). We will jointly analyze the best price opportunities and facilitate the application process for your credit. We will assist you in filling in your credit application and deposit it into a convenient office for your selected bank. Upon request and necessity, we will attend the signing of the credit agreement.

The well-informed customer choice is our mission.

WE DO THE JOB. YOU TAKE THE CREDIT.