Loan Contract Car by snn34549


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									                                              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          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

                         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
                        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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