Personal loans are non-finalized loans
And are paid directly to the requesting customer who signs the financing requests at the branches / branches of the placing bank that sends them.
The customer undertakes to return the amount financed according to a financial amortization plan to fixed rate and constant installments with agreed maturities, or variable calculated on the basis of the value of a reference parameter increased by a spread. The loan can be backed by guarantees.
An insurance policy can be used – at the Customer’s discretion – in the form of adhesion or other form of stipulation, to cover the repayment of the loan deriving from the loan, in the face of the risks of death, employment, accident and disability.
If the personal loan is at a fixed rate, there is a generic interest rate risk, deriving from the impossibility of benefiting from any fluctuations in downward rates, if the personal loan is at an indexed rate, this risk does not
subsists. Furthermore, there are risks associated with the increase in commissions and / or expenses charged to the customer by the creditor for changes in bank and postal costs, etc.
In the case of fixed rate loans, the nominal annual rate (TAN) – is the price of the loan with reference to the calendar year (divisor 365), equal to the IRS 4Y6M plus spread: max 12.45%. IRS 4Y6M value for August 2010: 1.950%. Annual Effective Annual Rate (APR): max 17.08% (example on average amount and duration: euro 11,000 request – duration 51 months – preliminary costs euro 110.00 – financed amount euro 11.110 – euro installment amount 265.00 – TAN 9 , 38% – APR 10.70%).
Excluded from the calculation of the APR, the costs modify the reimbursement method and the payment of the installment, application of the installment fee, request duplicate documents, recovery of production expenses and sending postal bills, early repayment , tax charges, expenses related to a default, optional insurance.
Included in the calculation of the APR are the interest calculated at the TAN rate, investigative costs, RID commissions for each collection, collection of the postal order, issuing and sending periodic documentation, insurance necessary for the application of an offer.
The customer can consult the specific Average Global Effective Rate (TEGM) required by art. 2 of the Law n. 108/1996 (so-called “Anti-usury Law”) on the sign posted on the premises of the dependencies and on the Company’s website. The Global Effective Rate (TEG) of the single ratio will never be higher than the limits imposed by L.108 / 1996.
Duration: maximum 120 months
Expenses for the stipulation of the contract and the management of the relationship – Costs of investigation: 5% on amount financed with a maximum of 500 euros (five hundred) RID commissions for each collection: 1.65 euros Production expenses recovery and sending postal bills: 10 euros. postal order: € 1.20
Modification of reimbursement methods on customer request: euro 10 – Change of payment date on customer request: euro 2 – Request for installment: euro 10 – Issuance / sending of periodic documents: euro zero Expenses required for duplicate documents: euro 10,00 Taxes: tax of stamp on the contract to date equal to
euro 14.62; any stamp duty on periodic communications to customers: that provided for by the law in force at the time in effect. Early repayment: 1% of the residual debt, subject to the provisions of articles 7 and 8 of the Law n. 40/2007, so-called portability of the loan without charges
of the debtor.
Optional insurance expenses to cover CPI credit: from a minimum of 3.72% to a maximum of 6.00% of the amount financed, depending on the duration of the loan. The portion of the premium received by is equal to 58% of the premium. The portion of the premium received by the placement bank is equal to 2% of the premium. The
type of insurance coverage varies according to the characteristics of the applicant. The premium is unique and paid in advance and at the request of the customer can be financed by under the same conditions of the loan. In this case the amount financed will include the insurance premium.
The Customer must consult the appropriate information and transparency documentation, provided for by Regulation no. 5/2006 ISVAP, at its disposal in the Bank’s branches.