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Parameters and terms
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CONSUMER CREDIT
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Currency
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BGN and EUR
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Credit amount
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Minimum amount 500 BGN
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Maximum amount 50 000 BGN
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Guarantee
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1. Surety by adult natural persons of full capacity – Bulgarian citizens permanently residing in the country, according to the concluded credit contract
2. Pledge on financial receivables in BGN or in a foreign currency owned by the borrower or third parties to a deposit/account opened in the Bank according to the concluded pledge agreement
3. Pledge on the applicant’s future receivables from:
а) income from employment or non-employment relationships;
b) pension income (excluding the invalidity allowances income);
c) rental income;
d) other income,
4. Pledge on the future receivables on a current account of the credit applicant held in the Bank.
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Credit repayment period
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Minimum period: 0.5 years (6 months)
Maximum repayment period: up to 10 years (120 months)
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Annual interest rate
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The BGN and EUR credit’s annual interest rate is based on the 6-month EURIBOR plus a fixed surcharge.
Updated information about the credit’s annual interest rates could be found in the Bulletin on the interest accrued by Municipal Bank AD on transactions with individuals
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Annual percentage rate of charge
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Credit amount
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Interest rate
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APR
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Period
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Monthly instalment
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Number of instalments
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Total costs for credit
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Total amount due
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15 000 BGN
* upon a full transfer of the monthly remuneration
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6.778%
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7.40%
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10 years
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172.45 BGN
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120
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5 944.20
BGN
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20 944.20
BGN
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15 000 BGN
* upon a transfer of the minimum monthly repayment +100 BGN
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7.778%
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8.48%
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10 years
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180.24 BGN
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120
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6 878.17
BGN
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21 878.17
BGN
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Taxes, commissions and other costs, which are included in the total costs for the credit:
- Annual interest rate:
· • 6,778% (in case of full transfer of the monthly remuneration)
· • 7.778% (in case of a transfer of the minimum monthly repayment +100 BGN)
- One-off fee for analysis of the creditworthiness and collateral
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Credit repayment
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Equal monthly annuity payments, including the principal and the interest, repayment schedule with equal instalments on the principal and a decreasing interest.
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Fees and commissions
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The credit applicant pays fees and commission under the current TARIFF of Municipal Bank AD for interest rates, fees and commissions applicable to individuals
- for analysis of the creditworthiness and collateral;
- for renegotiating the conditions (not applicable for requests for changes in the monthly instalment date or account change).
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Bonus
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Life insurance at the expense of the bank
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Necessary documents
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Credit application (Bank form)
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Identity document/s
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Declaration on the economic affiliation of the natural person with other persons (Bank form)
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Bank form documents
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Other documents depending on the income
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