CONSUMER LOAN GRADE;

Parameters and terms

CONSUMER CREDIT ZHITEN KLAS” (“WHEAT HEAD”)

Product description

Targeted consumer loan for registered agricultural producers, against a pledge of receivables under schemes and measures under the Common Agricultural Policy  

Currency

BGN

Credit amount

* up to 75 % of the size of the estimate subsidy before receiving a certificate by SAF (UIN) for the relevant agricultural year;

* up to 85 % of the size of the estimate subsidy after receiving a certificate by SAF (UIN) for the relevant agricultural year;

Guarantee

* First-ranking special pledge under the Special Pledges Act on the future receivables of the borrower from the State Agriculture Fund under the approved schemes and measures. (In case the pledge is established before receiving a SAF certificate, after the receipt of a certificate but not later than July 31, individualization of the registered receivables pledge should be made).

* First-ranking special pledge under the Special Pledges Act  on the receivables on current accounts, opened and managed on behalf of the borrower in the Bank.

Credit repayment period

Maximum repayment term of up to 12 months from the date of conclusion of the credit agreement.

Annual interest rate

The BGN credit’s annual interest rate is based on the basic interest rate plus a fixed surcharge.

Updated information about the credit’s annual interest rates could be found in the TARIFF of Municipal Bank AD on the interest rates, fees and commissions for natural persons /Bulletin on the interest rates charged by Municipal Bank AD on transactions  with natural persons

Annual percentage rate of charge

Credit amount

Interest rate

APR

Period

Total costs for the credit

Total amount due

15 000 BGN

5.90 %

8.62%

12 months

1 229.76 BGN

16 229.76 BGN

Taxes, commissions and other costs, which are included in the total costs for the credit:

     -          Annual interest rate – 5.90%

     -          Fee for consideration and analysis of the credit application– 30 BGN

     -          One-off fee for credit approval and preparation of documents for the credit transaction 2 %

Credit repayment

- a single payment at the end of the period, where a relevant part of the credit is repaid by each subsidy payment throughout the entire term;

or

- in three instalment, consistent with the term and amount of the expected subsidies.

Fees and commissions

 The credit applicant  pays fees and commission under the current TARIFF of Municipal Bank AD on the interest rates, fees and commissions for natural persons

-  for consideration and analysis of the credit application;

-  for credit approval and preparation of documents for the credit transaction;

-  for renegotiating the conditions (not applicable for requests for changes in the monthly instalment date or account changes).

Bonus

Life insurance at the expense of the bank for credit applicants up to the age of 65.  

Necessary documents

Credit application (Bank form)

Identity document/s

Declaration on the economic affiliation of the natural person with other persons (Bank form)  

Annual tax return under Art 50 of APIT for the last two years  

Copy of the Application for support for the relevant agricultural year submitted in State Agriculture Fund, including a Unique registration number

Certificate of declared areas/animals schemes by SAF, including an IBAN of the borrower in Municipal Bank AD

Registration card of an agricultural producer, certified for the relevant year by the District Agriculture Directorate

Statements from the Central Debtor Registry with the Private Bailiffs Chamber; 

Certificate for marital status and family members;

Certificate from the Matrimonial Property Relations Registry with the Registry Agency (in case the borrower has concluded a civil marriage)

Other documents at the bank’s discretion.

 

Exchange Rates 1.12.2020

Buy 1.94620
Sell 1.96000
BNB Fixed Rate 1.95583
Buy 1.59750
Sell 1.67450
BNB Fixed Rate 1.63258
Buy 1.77330
Sell 1.84330
BNB Fixed Rate 1.80444
Buy 2.14600
Sell 2.22600
BNB Fixed Rate 2.17689

0700 1 58 85

02/93 00 181
24/7 telephone No. for our cardholders