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No fee for opening and servicing of current account;
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No fee for payment at POS terminals of traders in the country and abroad;
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No fee for issuing, renewal and personalization of the main and an additional card;
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Fixed monthly credit repayments;*
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Option to use own funds in addition to the provided credit;
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You owe interest only on the used credit limit, which you have not repaid within the 45 days grace period;**
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No fee for registration for the 3D secure payment service;
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No fee for registration for the SMS Notification on Availability and Payments service;
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Option for issuance of up to two additional cards to your current account (An additional card cannot be issued to minors).
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*Minimum repayments – fixed sum you should provide for repayment of the used credit limit on the last day of the grace period** at the latest, in order to continue using the available credit limit.
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**Grace period – Period covering the days of the current CPP (customer payments period) and 15 calendar days of the next CPP.
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Standard revolving credit card MasterCard parameters:
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For whom it is intended
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Adult Bulgarian citizens, having proper capacity and permanently living in the country, referred to hereinafter as customers, borrowers or card holders.
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Credit’s currency
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BGN and EUR
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Credit amount
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Minimum limit: 500 BGN or 250 EUR
Maximum limit: 5 000 BGN or 2 500 EUR
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Guarantee
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* No guarantee;
* Deposit receivable pledge;
* Pledge on future receivables on the current account, to which the credit card has been issued;
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Interest rates
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The BGN and EUR credit’s annual interest rate 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
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Credit usage period
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12 calendar months
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Card validity
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24 months
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Fees and commissions
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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;
- monthly service fee for the main card.
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Minimum monthly repayment
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3% of the allowed credit limit
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Monthly statement for the current account
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Available until the 3rd business day following the relevant client payments period
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Annual percentage of charges
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Credit amount
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Interest rate
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APR
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Period
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Total amount due
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5 000 BGN
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17.478%
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20.55%
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1 year
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5 936.04 BGN
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Fees, commissions and other costs, which are included in the total costs of the credit:
- Annual interest rate – 17.478%
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- Fee for analysis of the creditworthiness and collateral:
· BGN 30.00 - for amounts up to BGN 1 000
· BGN 40.00 - for amounts up to BGN 2 000
· BGN 50.00 - for amounts over BGN 2 000
* APR represents the total cost of the credit, expressed as annual percentage of the granted and regularly serviced credit amount. In order to calculate APR all obligatory fees due by the customers in relation to the credit disbursement are included. Calculations are made with the assumption that following the conclusion of the agreement the maximum credit amount (the limit) is used completely and for the entire period of the agreement.
**The APR calculations exclude the monthly service fee for the main card.
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