Banca Transilvania is offering, through December 31 this year, a personal loan in lei with life and unemployment insurance, at a fixed interest rate starting from 8.4% per annum for customers who have their income paid into a BT account, and 8.9% per annum for those who do not receive their income via Banca Transilvania.

Details of the BT loan:

• You can borrow up to EUR 20,000 (equivalent in lei)
• Minimum amount: 5,000 lei
• Loan term: minimum 2 months and up to 5 years
• Preferential terms for refinancing at BT consumer loans held with other banks
• Includes life and unemployment insurance

Eligibility criteria for this loan:

• Regular income
• No arrears on other loans
• Romanian citizenship
• Maximum age 65 at the end of the loan term, or 70 if income is from pension income

Those interested can find out more about what this type of loan entails by running a simulation on BT’s campaign page.

For example, for a loan of 46,500 lei, with a fixed interest rate for the entire term (8.4% p.a.) over 5 years:

• The monthly payment is 951.78 lei
• Number of instalments is 60
• APR (Annual Percentage Rate) is 10.05%
• The total cost of the loan is 11,908.72 lei, and the total amount payable is 58,408.72 lei
• The insurance cost, included in the total cost of the loan, is 1,302 lei
• The processing fee is zero, the one-off fee for services requested by the customer is 50 lei, and the AEGRM fee is 65.70 lei.
• The early repayment fee for fixed-rate loans is 0.5% of the amount repaid if repayment is made less than 12 months before final maturity, and 1% of the amount repaid in other cases.