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Product Description and Terms and Fees
If you want to buy your first car or replace your current one.
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| Purpose |
Purchase of a new or a second-hand car |
| Loan amount |
500-450 000 GEL* (equivalent in USD/EUR) |
| Loan tenor |
6-120 months |
| Interest rate |
From 15% (GEL), from 9% (USD), from 8%( EUR) |
| Effective interest rate |
From 23.08% (GEL), from 17.48% (USD), from 16.22% (EUR) |
| Effective Interest Rate if indexed rate changes by 5 points (GEL) / 3 points (foreign currency) |
From 28.73% (GEL), from 20.86% (USD), from 19.39% (EUR) |
| Effective Interest Rate if GEL depreciates by 15% |
From 38.41% (USD), from 36.80% (EUR) |
| Disbursement fee |
1%, min. 50 GEL |
| Loan collateral |
Maximum 72 months - a car, Maximum 120 months - real estate |
| Life Insurance Rate |
0.72% |
| Property Insurance Rate |
0.28% |
| Auto Insurance Rate |
4.00% |
| Withdrawal fee (from account) |
0%-0.6% - according to the tariff for the account |
| Late Payment Penalty |
20 GEL on the first day overdue; 0.5% of the outstanding amount per each day overdue (in total, no more than 1.5x of the outstanding principal balance). |
| Ealry Repayment fee with own funds / from a different bank |
0.5% - if more than 6 months remain |
| 0% - if less than 6 months remains |
| Participation |
From 0% |
| Borrower |
A citizen of Georgia |
| Co-borrower |
Mother, father, sister, brother, spouse. Maximum 2 co-borrowers are allowed for one loan. |
| Income |
Salary, rent, money remittances, dividend |
| Ways to evidence income |
Salary account statement from a bank or Revenue Service, rent agreement, remittance statements |
Interesting offers MTPL, loan insurance, mortgage loan, travel insurance
The annual percentage rates given in the table are tied to the indexed interest rate
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