Individuals interested in a Practic BT personal loan with fixed monthly payments in RON can benefit from a discount under a Banca Transilvania campaign running from April 16–May 31 this year. The interest rate is 8% (down from 10.5%) for loans with life and unemployment insurance, and 8.5% (down from 10.9%) for those without insurance. You can borrow up to RON 100,000 within 48 hours for personal purposes.

• You can apply for Practic BT online or at any of BT’s 500+ branches.

• Within 30 minutes of applying online, you can find out how much you can borrow; in BT branches this information is available on the spot. You can also run simulations online to get an indicative monthly payment.

• The discounts are available to everyone, whether or not their income is paid into BT.

• The loan term can be up to 5 years, with 60 equal monthly installments.

• There is no processing fee.

• The campaign is also for those who want to refinance loans from other banks with Banca Transilvania.

Example: If a customer has their income paid into a BT account and chooses the Practic BT loan with insurance, for a RON 20,000 loan over 5 years, with a fixed interest rate of 8% per year for the entire term, the monthly payment is approximately RON 400. The APR is 9.33%, the total cost of the loan is RON 4,886, and the total amount payable is RON 24,886. The insurance, included in the total cost of the loan, is RON 560.

In 2018, Banca Transilvania granted almost 65,000 fixed-rate loans to retail customers, primarily for home improvements, car purchases, consolidating multiple credit products, and other personal projects. Almost 70% of customers opted for the version with insurance, up 12% compared with the average so far.