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Interest Bulletin

Interest Bulletin

 Lending for private clients

Consumer loan with salary traansfer

(BGN/EUR)

 3-month EURIBOR + 2.00 p.p., min. 5.75%

Consumer loan without salary traansfer

(BGN/EUR)

 3-month EURIBOR + 4.00 p.p., min. 7.75%

Housing loan “New Home” –

Floating interest rate

 (BGN/EUR)

 3-month EURIBOR + 0.95 p.p., total not less than 2.45%*

Housing loan “New Home” –

Interest rate determined for the first 3-years period

(BGN/EUR)

 3-month EURIBOR + 1.25 p.p., total not less than 3.50%

Mortgage loan – Floating interest rate

(BGN/EUR)

 3-month EURIBOR + 1.25 p.p., total not less than 3.50%
 

Mortgage loan - Interest rate determined

for the first 3-years period

(BGN/EUR)
 3-month EURIBOR + 2.25 p.p., total not less than 4.50%

Credit card

(BGN/EUR)

 18.00%

Credit card secured with deposit

(BGN/EUR)

 14.00%

 FlexFund Overdraft

(BGN/EUR)

 9.00%

Loan EcoMobility

(BGN/EUR)

 3-month EURIBOR + 1.00 p.p., min. 3.95%  

Loan for photovoltaic installation

(BGN/EUR)

 3-month EURIBOR + 1.00 p.p., min. 3.95%  

Loan for charging station

(BGN/EUR)

 3-month EURIBOR + 1.00 p.p., min. 3.95%  

Since 01/06/2023, when determining the interest rate under each loan agreement, ProCredit Bank (Bulgaria) EAD takes as a reference value of EURIBOR: 

  • For all consumer loans with a floating interest rate, a value is taken 3-month EURIBOR 3.75%
  • For all housing loans and mortgage loans with floating interest rate, a value is taken 3-month EURIBOR 2.00% 
  • For all EcoMobility loans, Loan for photovoltaic installation and for Loan for charging station, a value is taken 3-month EURIBOR  2.75%

Interest rates are only available to clients with salary transfer in the Bank and unlimited liability, i.e. with all property.

For clients are responsible up to the amount of the registered collateral established, the indicated annual interest rates are increased by 1.5 percentage points.

* Promotional interest rates until 30/06/2024

Consumer loan

Example 1

For Consumer loan with salary transfer on amount of BGN 30,000, loan period 5 years, annual interest rate 3-month EURIBOR + 2.00 p.p., min. 5.75%, no fee for online application, creditworthiness assessment fee BGN 300: equal monthly installment BGN 577.60, total amount due (principal, interest and fees) BGN 35 555.59. Annual percentage rate of charge (APRC) - 7.19%.*

Example 2

For Consumer loan without salary transfer on amount of BGN 30,000, loan period 5 years, annual interest rate 3-month EURIBOR + 4.00 p.p., min. 7.75%, no fee for online application, creditworthiness assessment fee BGN 300: equal monthly installment BGN 606.23, total amount due (principal, interest and fees) BGN 37 273.12. Annual percentage rate of charge (APRC) - 9.36%.*

* The Annual percentage rate of charge includes: creditworthiness assessment, monthly maintenance fee.

 

Housing loan “New Home”

Example 1

For Housing loan „New Home" in the amount of EUR 100 000 with salary transfer and a loan period of 20 years, floating annual interest rate of 3-month EURIBOR + 0.20 p.p., min. 2.45%, application processing fee EUR 100, collateral valuation fee EUR 145, fee for preparing of documents for mortgage registration EUR 100, creditworthiness assessment fee EUR 150: equal monthly installments EUR 529.18 for the first 3 months, total amount due (principal, interest and fees) EUR 129 750.27. Annual percentage rate of charge (APRC) – 2.77%*.

Example 2

For Housing loan „New Home" the amount of EUR 100 000 with salary transfer and a loan period of 15 years, fixed annual interest rate for the first 3 years 3-month EURIBOR + 1.25 p.p., min. 3,50%, application processing fee EUR 100, collateral valuation fee EUR 145, fee for preparing of documents for mortgage registration EUR 100, creditworthiness assessment fee EUR 150: equal monthly installments EUR 717.34 for the first 3 years, total amount due (principal, interest and fees) EUR 131 295.94. Annual percentage rate of charge (APRC) - 3.88%.

* The Annual percentage rate of charge includes: Application processing fee , collateral valuation fee, Fee for preparing of documents for mortgage registration, Annual property insurance,Creditworthiness assessment fee, monthly maintenance fee.

Mortage loan

Example 1

For Mortage loan in the amount of EUR 100 000 with salary transfer and a loan period of 20 years, floating annual interest rate of 3-month EURIBOR + 1.25 p.p., min. 3.50%, application processing fee EUR 100, collateral valuation fee EUR 145, fee for preparing of documents for mortgage registration EUR 100, creditworthiness assessment fee EUR 150: equal monthly installments EUR 582.54 for the first 3 months, total amount due (principal, interest and fees) EUR 142 589.42. Annual percentage rate of charge (APRC) - 3.86%.

Example 2

For Housing loan „New Home" the amount of EUR 100 000 with salary transfer and a loan period of 15 years, fixed annual interest rate for the first 3 years 3-month EURIBOR + 2.25 p.p., min. 4,50%, application processing fee EUR 100, collateral valuation fee EUR 145, fee for preparing of documents for mortgage registration EUR 100, creditworthiness assessment fee EUR 150: equal monthly installments EUR 768.50 for the first 3 years, total amount due (principal, interest and fees) EUR 140 483.04. Annual percentage rate of charge (APRC) – 4.94%.

* The Annual percentage rate of charge includes: Application processing fee , collateral valuation fee, Fee for preparing of documents for mortgage registration, Annual property insurance,Creditworthiness assessment fee, monthly maintenance fee.

Credit card

Example 1

For Credit cardon amount of BGN 3 000, loan period 6 years, annual interest rate 18%: total amount due (principal, interest and fees) BGN 6 288.00 on the assumption of the credit limit is disbursed for period of 72 months, the limit is fully utilised for the whole loan period, and the principle will be repaid one-time on the final repayment day. Annual percentage rate of charge (APRC) - 19.86%.

Example 2

For Credit card on amount of EUR 3 000, loan period 6 years, annual interest rate 14%: total amount due (principal, interest and fees) EUR 5 557.48 on the assumption of the credit limit is disbursed for period of 72 months, the limit is fully utilised for the whole loan period, and the principle will be repaid one-time on the final repayment day. Annual percentage rate of charge (APRC) - 15.16%.

FlexFund Overdraft 

Example

For FlexFund overdraft on amount of BGN 3 000, loan period 1 year, annual interest rate 9.00%; total amount due (principal, interest and fees) BGN 3 394.50 on the assumption of the amount is utilized fully and for the whole period and the principal will be repaid one-time at the final repayment day. Annual percentage rate of charge (APRC) - 13.93%.*.

*The Annual percentage rate of charge includes: Monthly maintenance fee.

Loan "EcoMobility"

Example

For loan "EcoMobility" on amount of  EUR 30 000, EUR 5 000 down payment, loan period 5 years, annual interest rate 3-month EURIBOR + 1.00 p.p., min. 3.95%, no fee for online application credit assessment fee EUR 150: equal monthly installment EUR 552.55, total amount due (principal, interest and fees) EUR 33 606.37. Annual percentage rate of charge (APRC) – 4.68%*.

* The Annual percentage rate of charge includes: credit assessment fee, monthly maintenance fee.

Loan for photovoltaic installation

Example

For loan for photovoltaic installation on amount of BGN 50 000, loan period 5 years, annual interest rate 3-month EURIBOR + 1.00 p.p., min. 3.95%, no fee for online application, credit assessment fee BGN 300: equal monthly installment BGN 920.92, total amount due (principal, interest and fees) BGN 56 154.92  Annual percentage rate of charge (APRC) – 4.80%*.

* The Annual percentage rate of charge includes: credit assessment fee, monthly maintenance fee.

Loan for charging station

Example

For loan for charging station on amount of BGN 5 000, loan period 2 years, annual interest rate 3-month EURIBOR + 1.00 p.p., min. 3.95%, no fee for online application, credit assessment fee BGN 300: equal monthly installment BGN 217.13, total amount due (principal, interest and fees) BGN 5 751.02. Annual percentage rate of charge (APRC) – 15.70%*.

* The Annual percentage rate of charge includes: credit assessment fee, monthly maintenance fee.

Annual interest rate for FlexSave account for clients using a current account, debit card and Internet banking

Currency Interest rate
BGN/ EUR 0.45%

 

Annual interest rates for Standard Term Deposits for clients using a current account, debit card and Internet banking

Currency Min. balance 6 months 12 months 24 months 36 months
BGN/ EUR/ USD BGN, EUR, USD 5 000 1.00% 1.25% 1.50% 1.75%

Interest rate for current clients not using a current account, debit card and Internet banking: Interest rate - 0%.

Interest rate in case of premature withdrawal: Interest rate - 0%.

Current account (for all currencies), Payment account for basic operations (in BGN) - Interest rate: 0%.

All interest rates are accrued on basis 365/360 days.

Interest rates for private individuals with balance more than EUR 100 000 on their accounts (current accounts/deposits/FlexSave) are negotiated individually.

Savings up to BGN 196,000 are guaranteed by the Bulgarian Deposit Insurance Fund (BDIF)

The annual interest rate for loans with a floating interest rate is calculated as follows:

3-month EURIBOR + margin= interest rate on the loan;  Min. interest rate = interest rate on the loan

but not less than the individual Minimum Interest Rate specified in the loan agreement 

Reference interest rate

Effective from 1 February 2024, when determining the interest rate on each loan agreement for all floating-rate loans, the Bank shall assume as reference a EURIBOR of: 

  • For all consumer loans with a floating interest rate, a value is taken 3-month EURIBOR 3.75%
  • For all housing loans and mortgage loans with floating interest rate, a value is taken 3-month EURIBOR 2.00% 
  • For all EcoMobility loans, Loan for photovoltaic installation and for Loan for charging station, a value is taken 3-month EURIBOR  2.75%

When determining the annual interest rate, the reference rate is taken into account as follows:

  • Upon signing the agreement – the value formed three business days prior to the date of signing the agreement/releasing the tranche;
  • For each subsequent interest period under the loan agreement – the value formed three business days prior to the date of the last instalment under the Repayment Plan for the previous period.

The values of the reference rates announced in the archive of the website are the values formed on the respective date.

EURIBOR is the average interest rate at which euro area banks exchange euro-denominated term deposits. The index is determined on a weekly and monthly basis based on the maturity of deposits and its values are published daily by the European Banking Federation in Brussels, Belgium.

Margin and Minimum Interest Rate

TThe margin and the minimum interest rate are fixed amounts specified in the loan contract.

  Example 1
Loan Currency   EUR
Loan Contract Date   01.02.2024
Reference Interest Date   3-month EURIBOR, fixing as of 01.02.2024 - 3.884%
Margin   0.20%
Minimum Interest Date   2.45%
Annual Interest Rate Applicable to the First Period

Reference rate + Margin = Interest rate on the loan;

Minimum interest rate = Interest rate on the loan, but no less than the individual Minimum Interest Rate specified in the loan agreement.

Example: 3.884% + 0.20% = 4.084%

Considering the fact that the Bank assumes EURIBOR for mortgage loans to be 2.00%, the agreed minimum interest rate of 2.45% shall apply for the relevant period.