Loan purpose:

Purchase of a real estate located on the territory of the Republic of Bulgaria, in a residential, administrative or commercial building, with an energy efficiency certificate* of class  А+, А or B.

Loan currency:

BGN, EUR

Loan amount:

Not limited

Loan repayment term:

up to 35 years (420 months);

Loan repayment method:

in equal monthly repayment installments

Bank credit lending rate:

up to 90% of the market value of the real estate

Collateral:

Mortgage on the purchased real estate

Interest rate:

of 2.91%, variable annual interest rate, formed on the basis of SBIR* + allowance

*SBIR - savings-based interest rate is a reference interest rate calculated for each individual type of currency according to the methodology announced by the Bank.

Real estate assessment:

The appraisal of the property serving as collateral is made at the borrower's expense by an independent real estate appraiser, external to the bank, entered in the register of independent appraisers kept by the Chamber of Independent Appraisers, and is confirmed by an internal appraiser of the Bank.(see the Tariff  – Licenses Asset Appraisals).

Credit negotiation fee:

According to the current Tariff for fees and commissions of FIB AD

Interest rate characteristics, possible consequences:

The specified minimum interest rates are applicable to borrowers who meet the Bank's requirements, for the entire period of validity of the loan agreement, do not have a delay in paying of any amount due on the loan for a period longer than 30 days and simultaneously use all additional interest discounts as follows:

• 1.00% when transferring the declared income to a current account with the bank ;
• 0.25%:  when using a Visa/MasterCard credit card issued by the bank, active electronic banking and at least one utility payment registered in electronic banking;
• 0.20% when buying a property in a building with energy efficiency of class B or higher;
• 0.20% when using the  FiHealth Peace of Mind insurance“;
• 0.10% when using a  banking package and electronic banking

The annual interest rate is determined depending on the individual credit rating of each borrower.

The interest owed by the borrower is paid periodically in the amount and at the maturity dates detailed in the repayment plan, an integral part of the loan agreement.

Changes to the repayment plan and repayment installment may occur:

• in the event of a change in the interest rate applicable under the contract as a result of a change in what was declared by the borrower or in the event of discontinuing the use of any of the products and services, as a condition taken into account when forming the originally agreed interest rate;

• in the event of a change in the in an amount where the amount of the monthly interest payable exceeds the agreed amount of the repayment installment according to the effective repayment plan;

• in case of partial early repayment of the loan. 

Representative example:

Example:

- If the loan amount is BGN 150,000;

- Repayment term: 360 months;

- Annual interest rate: 2.91% variable annual interest rate, formed on the basis of SBIR + allowance.

According to the specified parameters of the loan, assuming that the loan is absorbed in full and the borrower uses all the additional interest discounts at the same time, he owes every month on the date of the month specified by him (installment due date):

• 360 equal monthly instalments, each with an approximate amount of BGN 628.63

• The total amount owed by the borrower is BGN 243 661.99

• APR on the loan is 3.67%.

The value of the APR includes the costs of an annual credit card fee in the amount of BGN 45, a fee for negotiating a loan in the amount of BGN 500, a monthly fee for the “My Choice Online” banking package in the amount of BGN 5.99, as well as annual premium under the FiHealth Peace of Mind insurance in the amount of 5.05‰.

Possible additional costs related to the loan:

Additional costs payable under the loan agreement, which are not known to the bank and which are not included in the total costs of the loan:

• the relevant notary fees due for establishing a mortgage in favor of the bank;

• the relevant notary and state fees due for renewing and canceling the collaterals established in favor of the bank;

• appraisal of the real estate;

• costs of insurance of the real estate subject to collateral for the term of the contract.

Teems related to early repayment of the loan:

In the event that the borrower wishes to exercise his right to early repayment of part or all of its obligations under the loan agreement, he should submit an express written request to the bank, containing the early repayment amount and the date on which he wishes to repay it.

A commission fee for early repayment in the amount of 1% of the early repayment amounts on the loan is due when the loan is repaid before the payment of 12 monthly repayment installments from its absorption. In case of repayment after this period, no commission fee for early repayment is due.

In case of early partial repayment, one of the following options is allowed at the borrower's choice:

• reducing the amount of the repayment installment and keeping the deadline for repaying the loan;

• reducing the deadline for repaying the loan and keeping the repayment installment on the loan;

• a combination of the two options mentioned above.

Possible consequences of non-compliance:

Payments that are due but not made on time due to a lack of funds on the borrower's current account with the bank are considered arrears, and for the time of delay, the borrower owes compensation for delay (penalty surcharge) on the amount of the overdue amount. The compensation for delay is in the amount of the legal interest.

In the event that the borrower fails to fulfill any of his obligations under the contract or the loan is declared to be due in full and at an earlier date, the bank is entitled to satisfy itself from all collateral at the same time or from only one or several of them in the order provided by law, and according to the responsibility chosen by the borrower, specified in the contract.

Deadline for accepting the loan proposal:

The borrower has a period of 14 (fourteen) days from the receipt of a draft loan agreement to decide on its conclusion.