EcoMobility Loan

EcoMobility Loan

Why invest in eMobility?

 

The advantages of an electric car:

  • low eco fee, no annual local car tax in Bulgaria
  • free parking in the blue and green parking areas in Bulgaria
  • the average mileage on a single charge is 280 km for new electric cars in the middle price range of up to 35 000 EUR and with a battery power of 45 kWh
  • no carbon emissions when driving
  • standard battery charging time between 4 - 8 hours, on a fast charging station - between 20 - 40 minutes
  • Lower cost for servicing than a conventional car 

Advantages of purchasing a car with a bank loan compared to leasing for an electric vehicle

  • direct ownership of the asset - no need for power of attorney from the owner
  • freedom in choosing the car insurance company
  • one-time transfer of ownership of the asset

EcoMobility loan also allows financing for used electric vehicle, which has been initially registered less than 3 years ago and has been driven for less than 50 000 kilometers.

 

What we achieved?

In 2015 we invested in our first 10 electric cars. Now electrified vehicles and plug-in hybrids are about 60% of the cars we use.

The investment is suitable for private individuals as well as for different types of businesses.

Conditions

For Legal entities

Borrowers legal entities and sole proprietors, freelancers and registered agricultural producers
Loan amount maximum - 100% of the value of purchased car
Loan currency BGN OR EUR
Loan period from 6 months up to 5 years
Application processing fee according to the bank`s price list for legal entities
Interest rate
  • 1.5% - at least a 10% down payment
  • 2% - less than a 10% down payment
Collateral
  • pledge on the vehicle, purpose of the loan
  • co-debtor or another form of collateral upon the bank’s request

 

For private individuals

Borrowers
  •      Private individuals with income from a permanent labour contract         
  •      Business owners who will use the loan for consumer purposes
Loan amount maximum - 100% of the value of purchased car
Loan currency BGN or EUR
Loan period from 6 months up to 5 years
Application processing fee no fee
Creditworthiness assessment BGN 100
Interest rate
  • 1.5% - at least a 10% down payment
  • 2% - less than a 10% down payment
Collateral
  • co-debtor or another form of collateral upon the bank’s request


For loan "EcoMobility" on amount of EUR 30,000, EUR 5,000 down payment, loan period 5 years, annual interest rate 1.50%, equal monthly installment EUR 519.57, total amount due (principal, interest and fees) EUR 31 174.04. Annual percentage rate of charge (APRC) - 1.92%.Example for private individuals 

How to apply

To apply for an EcoMobility Loan, complete the following steps:

  1. Select an electric car and obtain an offer from the supplier;
  2. Contact our Contact Centre at 0700 1 70 70 or complete our contact form and we will call you back; 
  3. Discuss the financing you would like to receive with our Business Client Advisers; 
  4. Submit a completed Loan application form and provide the required documents; 
  5. Tell us about your business; 
  6. We will respond within the indicated time period.


 Application documents:

  • Completed Loan application form;
  • Copy of the business owner’s identification card;
  • Documents related to the company’s activity, provided after consulting with a Business Client Adviser;
  • A pro forma invoice/offer issued by the supplier.