Any purpose loan with decreasing interest
Clients drawing an any purpose loan from Tatra banka will now be entitled to a 1 percent interest rate decrease each year.
From May 5 to June 30, 2014, both clients and prospective clients of Tatra banka have the option to draw an any purpose loan with falling interest. After the first year of loan repayment, their interest rate for each subsequent year will decrease by 1 percent. The only condition is to pay monthly installments duly and on time.
The greatest advantage of the loan is that it can be used for any purpose and is simple to obtain:
- a client can draw a loan anytime, anywhere and for anything,
- without documenting the purpose to the bank,
- most clients do not even need to submit their proof of income,
- once the loan agreement is signed the funds are available at a client's account within minutes,
- Tatra banka clients may obtain a pre-approved loan via their Internet BankingTB or via the Tatra banka application in their mobile phone anytime, 24 hours a day, 7 days a week.
At Tatra banka, clients most often draw any purpose loans of €5,000 for a period of roughly 5 years. On average, they are most commonly used by clients aged 40. Men account for the biggest share (56 percent). As concerns the marital status, the largest number of applicants are single (almost 50 percent) with about 37 percent represented by married clients.
Illustrative example: With a loan of €10,000 at a fixed interest rate of 9.90 percent p.a., the repayment period of 84 installments and a one-off loan arrangement fee of €200, the annual percentage rate is 11.23 percent with a monthly loan repayment of €166.21. The total amount to be repaid by a client is €14,161.64.