Consumption Loans

Consumer Goods Financing

This is a personal credit for the purchase of goods or services for general consumption.

Target segment: Individual customers.

Characteristics

Target market

Individuals.

Deadline

Maximum of 120 months.

Amount

Minimum 50,000$00
Maximum up to 5.000.000$00

Reimbursement

Constant monthly installments of capital and interest.

Interest rate

Nominal Annual Interest Rate: Maximum of up to 12%

TAEG*

Overall Annual Percentage Rate of Charge of 14.455%

*APR of 14.455%, calculated for a loan of CVE 500,000.00 with a total term of 60 months at an interest rate of 12%, in accordance with Article 21 of Law 96/IX/2020 of July 17. Rate calculation basis – act/360 days.

commissions

Origination fee: 2%; Minimum $1,500, plus applicable Stamp Duty
Partial or full early repayment fee: Pursuant to Art. 7 of Law No. 95/IX/2020
Early settlement, partial or full (fixed rate) 2.00%
Early settlement, partial or full (variable rate) 0.50%

Guarantee

Third-party guarantee on a promissory note; or
Pledge of a financial investment or Treasury Bond; or
Other deemed eligible and sufficient.

Advantages

Quick response;
Extended payment period;
Possibility of negotiating the rate depending on the guarantees presented;
Opportunity to meet your consumption needs under excellent conditions.

Required documentation

Open account at BI ( applicants, guarantors/co-signers");
Loan application;
Statement of net income of applicants and guarantors;
Salary domiciled at BI;
Statement from other banks (existence or absence of liabilities with them).

Contracts

FIN – Consumer Credit