Parameters and terms
CONSUMER CREDIT „THIRD AGE“
Currency
BGN
Credit amount
Minimum amount 500 BGN
Maximum amount 10 000 BGN
Guarantee
Pledge on future pension receivables to a current account in Municipal Bank along with a future account receivables pledge
Credit repayment period
Minimum period: 0.5 years (6 months)
Maximum period:
5 years (60 months) for credits under 7 000 BGN
7 years (84 months) for credits ranging between 7 001 BGN and 10 000 BGN
Annual interest rate
The BGN 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
Annual percentage rate of charge
Interest rate
APR
Period
Monthly instalment
Number of instalments
Total costs for credit
Total amount due
7 000
9.268%
10.59%
5
years
146.22
60
1 953.25
8 953.25
Taxes, commissions and other costs, which are included in the total costs for the credit:
- Annual interest rate – 9.268%
- One-off fee for analysis of the creditworthiness and collateral
Credit repayment
Equal monthly annuity instalments or equal instalments on the principal
Fees and commissions
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
Bonus
Life insurance at the expense of the bank
Necessary documents
Credit application (Bank form)
Identity document/s
Declaration on the economic affiliation of the natural person with other persons (Bank form)
Copy of the Pension decision
No pension document is required if the customer has received at least one pension to their Municipal Bank account or if it is technically possible to check the pension income at the NSSI.