Interest Bulletin

For loans

 Lending for private clients

 

Loan Investment

(BGN/EUR)

3.50%

Loan EcoMobility

(BGN/EUR)

1.50%

 FlexFund Overdraft

(BGN/EUR)

6.00%

Credit card

(BGN/EUR)

19.00%

Credit card secured with deposit

(BGN/EUR)

14.00%

 

Loan "Investment"

Example

For Loan "Investment" on amount of BGN 25,000, loan period 3 years, annual interest rate 3.50%, application processing fee BGN 100, creditworthiness assessment fee BGN 100: equal monthly installment BGN 733.12, total amount due (principal, interest and fees) BGN 26 951.98. Annual percentage rate of charge (APRC) - 5.10%.

Loan "EcoMobility"

Example

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%.

FlexFund Overdraft 

Example

For FlexFund overdraft on amount of BGN 3 000, loan period 1 year, annual interest rate 6.00%; total amount due (principal, interest and fees) BGN 3 302.50 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) - 10.56%.

Credit card

Example 1

For Credit cardon amount of BGN 3 000, loan period 4 years, annual interest rate 19%: total amount due (principal, interest and fees) BGN 5 505.15 on the assumption of the credit limit is disbursed for period of 48 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) - 22.98%.

Example 2

For Credit card on amount of EUR 3 000, loan period 4 years, annual interest rate 14%: total amount due (principal, interest and fees) EUR 4 803.00 on the assumption of the credit limit is disbursed for period of 48 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) - 16.09%.

Housing loan "New Home"

Housing loan „New Home" is available in BGN and EUR. You can choose between a floating interest rate that will be adjusted in line with the benchmark in the beginning of each 6-month period, and an interest rate that will remain fixed in the first 10-year period.

All interest rates are per annum.

  Floating interest rate Interest rate determined for the first 10-years period 
EUR 6-month EURIBOR + surplus 2.25%**, total not less than 2.25%** 6-month EURIBOR + surplus 4.00%, total not less than 4.00%
BGN 6-month EURIBOR + surplus 2.25%**, total not less than 2.25%** 6-month EURIBOR + surplus 4.25%, total not less than 4.25%

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.

Example 1

For Housing loan „New Home" in the amount of EUR 50 000 with salary transfer and a loan period of 15 years, floating annual interest rate of min 2.25%, consisting of the 6-month EURIBOR, increased by a surplus of 2.25%, application processing fee EUR 75, creditworthiness assessment fee EUR 75: equal monthly installments EUR 328.31 for the first 6 months, total amount due (principal, interest and fees) EUR 60 760.97. Annual percentage rate of charge (APRC) - *** 2.73%.

Example 2

For Housing loan „New Home" the amount of BGN 100 000 with salary transfer and a loan period of 15 years, floating annual interest rate of min 2.25%, consisting of the 6-month EURIBOR, increased by a surplus of 2.25%, application processing fee BGN 150, creditworthiness assessment fee BGN 150: equal monthly installments BGN 656.61 for the first 6 months, total amount due (principal, interest and fees) BGN 121 505.51. Annual percentage rate of charge (APRC) - *** 2.73%.

Example 3

For Housing loan „New Home" the amount of EUR 50 000 with salary transfer and a loan period of 15 years, fixed annual interest rate for the first 10 years 4.00%, consisting of the 6-month EURIBOR, increased by a surplus of 4.00%, application processing fee EUR 75, creditworthiness assessment fee EUR 75: equal monthly installments EUR 371.31 for the first 10 years, total amount due (principal, interest and fees) EUR 68 514.86. Annual percentage rate of charge (APRC) - *** 4.55%.

Example 4 

For Housing loan „New Home" the amount of BGN 100 000 with salary transfer and a loan period of 15 years, fixed annual interest rate for the first 10 years 4.25%, consisting of the 6-month EURIBOR, increased by a surplus of 4.25%, application processing fee BGN 150, creditworthiness assessment fee BGN 150: equal monthly installments BGN 755.43 for the first 10 years, total amount due (principal, interest and fees) BGN 139 339.67. Annual percentage rate of charge (APRC) - *** 4.81%.

** For borrowers with a monthly income above BGN 3000

*** The Annual percentage rate of charge includes: application processing fee, credit assessment fee,collateral evaluation fee /apartment/, fees related to issuance of documents for registration/deletion of mortgage, annual property insurance fee, monthly account maintenance fee.

For Deposits and Accounts

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

Currency Interest rate
BGN/ EUR 0.05%

 

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

Currency Min. balance 12 months 24 months 36 months
BGN/ EUR/ USD 5 000 0.10% 0.15% 0.20%

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.

Methodology on determing the Interest Rate

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

Annual interest rate = Reference interest rate + Margin

but not less than the Minimum interest rate, as set in each individual loan contract

 

Reference interest rate

ProCredit Bank applies as the reference interest rate on all its floating interest rate loans 6-months EURIBOR.

In settings the annual interest rate, the reference rate is applied as follows:

  • Upon contract signing – the fixing as of 3 business days before the date of contract signing/tranche disbursement;
  • For each successive interest rate period of the loan -  the fixing as of three business days prior to the due date of the preceding instalment as per the Loan Repayment Schedule.

Historic reference interest rates are listed on the Bank`s website in the order of their fixing dates.

EURIBOR is an average interest rate that reflects the interest rate at which banks in the Euro Zone exchange term deposits in EUR between each other. The reference rate is fixed on a weekly and monthly basis in line with the relevant maturities of deposits, and its fixings are published daily by the European Banking Federation in Brussels, Belgium.

Margin and Minimum Interest Rate

The margin and the minimum interest rate are fixed in the individual loan contract.

  Example 1
Loan Currency   EUR
Loan Contract Date   01.03.2017
Reference Interest Date   6-month EURIBOR, fixing as of  24.02.2017 - 0,238%
Margin   3.00%
Minimum Interest Date   3.00%
Annual Interest Rate Applicable to the First Period

Reference interest rate + Margin = 0,308% + 3,00% = 2,762%

The interest rate calculated according to this formula is higher than the minimum interest rate as fixed in the loan contract; therefore the minimum interest rate of 3,00% is not applied in the relevant period.