CAR LOAN Pre-contractual information form Items Description This document is not a mandatory legal offer. Presented confidential figures are a reliable presentation of the bank products that will offer due to current market terms and Introduction conditions, based on given information. However, these figures can fluctuate according to the market conditions. Giving the information does not intend that the bank is obliged to provide loan. 1. Bank BANKA KOMBETARE TREGTARE (BKT) SH.A The aim of car loan is to fulfill the request of the client, for buying a new car. From this 2. Purpose of product loan can profit individuals and self-employed professionals and even companies that want to buy cars for their administrations needs. This product will be used for the purpose foresight in the point 2 and as a guaranty the bank will ask the pledge of the vehicle that will be bought and Casco insurance of the car in her favor. The loan repayment will be performed by equal monthly installments (principal + interest) due to the repayment schedule and not as a lump sum payment at the end of the 3. Product description maturity. If the model of the car that the client wants to buy is a model produced within the year, the bank will finance till 70% of the price (based on the selling-contract), meanwhile the applicant has to pay at least 30% of the price in the form of down payment. If the car that the client wants to buy it’s not a model produced within the year, the bank will finance till 60% of the price ( based on the selling contract), meanwhile the applicant has to pay at least 40% of the price in form of the down payment. LEK 12.5% for the 1st year of the loan,then T-Bill 1-Year+5.5% Euro 8.5% for the 1st year of the loan,then Euribor 1-year+6.5% 4. Interest rate (shows (not less then 8.5%) interest rate type and USD 9.5% for the 1st year of the loan,then Libor 1year+7.5% duration of the define (not less then 9.5%) period) Interest rate is adjustable according to 1-year T-bill, Euribor and Libor fluctuations each end of the calendar year. The applicant will be informed via phone calls, e-mail or mail for any amendments or changes on loan terms and conditions. The effective interest rate (EIR) defines the total cost that the client will afford for the taken loan with the condition that the loan will be repaid within the period that was 5. Effective interest agreed, the parties will restrain to the conditions given in the contract and the interest and rate the other expenses will stay unchanged till the end of the loan maturity. The client will be informed for EIR at the application moment and at found disbursement moment (Annexes of the Payment Plan). Maximal Loan Amount 6. Loan amount and its LEK– 3,000,000 Lek currency EURO-25,000 Eur USD-30,000 Usd 7. Loan contract Maximal period – Up to 4year (or 48 months) maturity for Car loan The loan repayment will be performed on equal monthly installments. 8. Number and The number of installments varies due to loan to maturity. frequency of payments 9. Loan’s installment Installment = Principal amount + interest amount amount Amount 1,000,000 Rate 12.50% Years 4 Months 12 * interest rate= 12.5 % Period Date Installment Interest Principal Outstanding 10. Repayment schedule (repayment 1 Mar-09 26,580 10,417 16,163 983,837 plan) 2 Apr-09 26,580 10,248 16,332 973,588 3 May-09 26,580 10,142 16,438 963,447 4 Jun-09 26,580 10,036 16,544 953,411 5 Jul-09 26,580 9,931 16,649 943,480 6 Aug-09 26,580 9,828 16,752 933,652 This is an illustrative table and the repayment annex referr to a changeable interest rate. 11. Additional costs irreversible in cases Not applied. when they are applicable Type of expenses Value Notary Expenses ~ 2,500 lek / for contract Pledge Expenses ~ 1,400 lek Casco insurance premium for cars Depends on the loan value 12. Other additional Disbursement commission 1.5% over the requested loan amount costs The above mentioned loan origination related costs are considered as post approval loan application costs. These costs are inevitable and mandatory for the applicant before the disbursement date. The expenses of pledge, notarization of the loan contract and the commitment commission will be paid only at start; meanwhile the premiums of life and property insurance will be repeated on yearly basis. 13. Prepayment (if The bank may accept the total or partial loan repayment, providing that the customer will applicable) pay all the generated interests plus one interest 1(one) day. - Written letter near any branch or Agency 14. Claiming forms - Visits near every branch or Agency - Via telephone (+355 42 266 288) call center - If the bank finds that the customer has not used the loan for the stated purpose it may ask for the total liquidation of the outstanding loan amount and accumulated interests or otherwise if it finds appropriate it can apply a commission of 1% over the disbursed loan amount. - If the borrower fails to pay commission and interest, the bank has the right to charge a commission of 3(tre) % in Euro/Usd or 4 (four) % in Lek, on monthly basis over the 15. Other Penalties unpaid commissions and interest amounts. - If the borrower can not pay in time the matured installment (interest or principal) , the Bank apart of the normal interest rate, has the right to apply a penalty of (tre) % in Euro/Usd or 4 (four%) in Lek on monthly basis, calculated on the unpaid due installment (inters + principal) for the period in which he is in delay, based on terms and conditions of this contract.
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