- Without the calculation of the creditworthiness
- During the term of the loan, it is possible to use the interest due on the deposit
- The loan amount is 95% of the principal amount of the deposit
- The interest rate is fixed (equal to the interest rate on deposit increased by at least 3,00 p.p. and at most 3,50 p.p.)
- Loan currency can be in EUR or EUR with currency clause USD
- Repayment term up to 10 years
Representative example of the calculation and the assumptions for the calculation of EIR:
| Loan currency |
EUR |
| Loan amount |
15.000,00 EUR |
| Nominal interest rate* |
4,00% fixed (3,00% spread** and 1,00% interest on deposit) |
| Repayment period |
5 |
| Deposit amount |
15.750,00 EUR |
| Monthly annuity |
276,25 EUR |
| Effective interest rate*** |
4,80% |
| Total amount**** |
16.574,83 EUR |
*The nominal interest rate on the loan is fixed and amounts to 4,00%, and on the basis of a term deposit with an interest rate of 1,00% for a period of 61 months, a spread in the amount of 3.00% and with an annuity repayment of the loan
**spread - the difference between the interest rate on the loan and the interest rate on the deposit
***EIR is calculated on the specified amount of the loan, with the specified repayment term and intercalary interest for the whole month
****The total repayment amount includes the loan principal and the interest calculated until the end of the repayment period, increased by the interim interest for the entire month.
Intercalary interest is equal to regular interest, it is calculated on the used part of the loan until the loan is put into repayment, and it is charged immediately when the loan is disbursed.
Before credit will paid out the user will be given European standardized information form (ESIS form) with the exact total amount to be paid and the calculation of EIR.