No Bank commissions

Advantageous grace period

Maximum loan period - 5 years

Advance of minimum 5% of the vehicle’s acquisition price

Co-debtors are accepted by the Bank for completing the applicant’s incomes

At the calculation of the net income all the certain and permanent incomes of the family during the credit period can be taken into consideration

Credit destination: the purchase of a new vehicle from the internal production and/or import, with the following characteristics:
- It was not owned before by another person, according to vehicle’s identity card;
- It fulfills at least the minimum requirements of the EURO 5 standard;
- It is purchased from a Romanian seller whose activity object represents the sale of vehicles.

Credit currency: LEI

The acquisition price of the vehicle: maximum 50.000 lei + VAT, as the case may be.

The maximum credit value: maximum 95% of the acquisition price of the vehicle mentioned in the invoice (VAT included).

Personal contribution: 5% of the acquisition price of the vehicle (VAT included)

Credit period: maximum 5 years

Maximum age for credit full reimbursement: 70 years old

Grace period: maximum 60 days for the short term credits and 90 days for the medium term credits

Types of accepted incomes: certain permanent net incomes (salaries, pensions, agricultural activities, independent activities, rents, dividends, collaboration agreements, intellectual property rights etc.)

Warranties:
- warranty issued by FNGCIMM: in the name and the account of the state, which covers a percentage of maximum 50% of the credit value;
- pledge over the new vehicle purchased within the Program, in favor of the Romanian state, represented through the Financial Ministry and of the financier, proportional to the warranty percentage, valid until the fulfillment of all payment obligations afferent to the credit granted within the Program;
- assignment of all rights arising from the CASCO insurance policy for the new vehicle purchased within the program, in favor of the Romanian state, represented through the Financial Ministry and of the financier, proportional to the warranty percentage.

Credit Reimbursement:
- in monthly payments constituted of the capital installment and the interest;
- an advance reimbursement of the credit can be made anytime, until the final due date of the credit, without any commission being perceived for the advance reimbursement.

Interest
- 5.17% (ROBOR 6M + 2.90 p.p.), that modifies half-yearly according to the reference indicative

The currently considered ROBOR 6M interest level is 2,08%, valid on 3 January 2018.

The level of the ROBOR 6M interest modifies half-yearly on January 1st and July 1st of each year or the first working day following the first trimester day, in case the first trimester day is a non-working day, with interest ROBOR 6M valid in the day of the modification.

The valid value of the indicatives on the modification date is the one published by the afferent regulation organization with two working days in advance.  

Commissions
- File analysis commission: 0
- Credit administration commission: 0
- Advance reimbursement commission: 0

Warranty premium constituted of:
- risk commission for the Financial Ministry - amount owed by the Program’s beneficiary for covering the warranty risk and the annual capital financing necessary for the Program: 1% of the guarantee value (50% of the financing value), calculated on credit approval;
- administration commission for F.N.G.C.I.M.M. - amount owed by the Program’s beneficiary to cover the evaluation, granting and administration of the warranties costs granted by FNGCIMM: 0,49% calculated annual to the guarantee’s balance (50% of the financing value).

The level of these commissions will be set annually by order of the public finance ministry.

Other cost elements that are not taken into account of DAE, respectively:
- registration/extension/modification (by case) and cancellation of the pledge on the present and future credit balances of the current accounts of the customers/co-debtors and of the customer’s debit card accounts at the Electronic Archive of Security Interests;
- the amounts representing the insurance premiums related to the insurance policies for general risks, related to the value of the assets accepted as collateral, for which there are concluded such policies and/or PAD (Effective Annual Interest Rate) premium quote, given that the Bank does not impose the concluding of the insurance premiums with a certain provider of such services;
- the amounts related to the evaluation of the movable/immovable assets accepted as collateral, except for the evaluation that is performed by the internal evaluators of the Bank.

Loans interests (.pdf)

Loan fees (.pdf)

Examples of calculation - Standard Products (.pdf)