Parameters and terms
OVERDRAFT CREDIT “THIRD AGE”
Product description
Untargeted credit intended to cover daily needs
The overdraft is granted on customer current accounts having a debit card issued – Seniors, opened in Municipal Bank.
Currency
BGN
Amount (limit)
To the amount of 1 (one) monthly pension of the applicant, but no more than 1 000 BGN.
Guarantee
Pledge on future pension receivables on a current account with a debit card issued – Seniors, together with pledge on future account receivables.
Maximum repayment period
12 months following the date of signing the agreement
Annual interest rate
The credit’s annual interest rate in BGN is based on the 6-month EURIBOR plus a fixed surcharge.
Updated information about the credit’s annual interest rates could be found in the Bulletin on the interest accrued by Municipal Bank AD on transactions with individuals
Repayment
Upon every transfer of amounts to the credit servicing account with a revolving option up to the agreed credit limit.
Fees and commissions
The credit applicant pays fees and commission under the current TARIFF of Municipal Bank AD for interest rates, fees and commissions applicable to individuals
- for analysis of the creditworthiness and collateral
Necessary documents:
Credit application (Bank form)
Identity document/s
Declaration on the economic affiliation of the natural person with other persons (Bank form)
Copy of the Pension decision
No pension document is requested if the customer has received at least one pension in their Municipal Bank account or if it is technically possible to check the pension income at the NSSI.