Personal Loans

A Personal Loan can be granted for current personal, family, or household needs (e.g., education, vacation, medical treatment, home renovations, purchasing a car, household appliances, etc.). Personal loans can be unsecured or secured – with a salary transfer requirement, a guarantor (or co-borrower), or a cash pledge (collateral deposit). Unsecured loans are approved based on the client’s credit history and after an assessment of their financial capacity to repay the loan.

Features

Term

Typically, a minimum of 1 year and a maximum of up to 10 years.

Minimum amount

According to different bank offers, usually not less than BGN 1 000.

Maximum amount

According to different bank offers, typically up to BGN 40 000, and under specific requirements, up to BGN 100 000.

Interest Rate Type

• Fixed for different periods, depending on bank offers (6 months, 1 year, up to the entire loan period)
• Variable – formed by different market interest rate indices. Most often, indices are linked to interest rates on citizen deposits

Interest rate conditions

The pricing parameters are determined based on:

• The loan amount and term.
• The client’s insurable income (or documented income).
• Whether a salary transfer or a monthly instalment payment is serviced through the respective bank.
• The availability of additional banking products that the client will use alongside the loan.

Collateral

The loans are generally unsecured, but the bank may require security based on its assessment, most often a co-borrower or guarantor. This is subject to individual assessment according to the client’s risk profile.

Fees and commissions

The main fees are:

• Loan Application Processing Fee (varies between banks).
• Monthly Fee for Maintenance of the Current Account used to service the loan (may be included in a product package).
• Insurance Premium.

Insurance

Insurance policies for consumer loans are not mandatory, but they typically secure better interest rates. The use of insurance is recommended, as in the event of adverse events, the debt will be repaid temporarily or entirely by the insurer. The insurance coverages vary according to the bank’s offers.

We will help you compare the interest rates, fees, and the final cost (Annual Percentage Rate of Charge – APR). We will jointly analyse the possibilities for the best pricing offer and simplify the loan application process. We will assist you with filling out the application and submitting it to a convenient branch of the chosen bank. If desired and necessary, we will attend the signing of the loan agreement with you.

Informed client choice is our mission.

WE DO THE WORK, YOU GET THE BENEFITS.