A representative example

For the loan amount of €15,000.00 with a repayment period of 60 months, the nominal interest rate is 4.00% on an annual basis, while the effective interest rate is 4.33%. The calculation of the effective interest rate includes the nominal interest rate, the fee for processing the loan application of €30.40, the fee for maintaining the credit party account of €60.00, the fee for one bill of exchange in the amount of €2.00 and the fee for inquiry to the CBCG Credit Register in the amount of €3.00. The total amount paid by the client is €16,669.64 and represents the sum of the loan principal, total interest and other fees and expenses related to the loan approval, while the amount of the monthly annuity is €276.23. Mandatory means of security is a promissory note and promissory note authorization of the credit user. If it is necessary to provide other security instruments for loan approval, it is necessary for the loan beneficiary to commit to concluding a contract on additional services, in which case the additional fees that are not included in the calculation of the effective interest rate also include the costs related to these additional services. A representative example is shown on the example of the calculation from 05/31/2024.