Loans with an annuity (equal) contributions are very popular. At the same time as the credit is withdrawn, we must be ready for its prompt and correct redemption of the creditor. Repayment of debt obligations is a serious and important process that involves an in-depth analysis of our financial situation, a rigorous refinement and a comparison of income and expense.
On this page, we will introduce a few suggested to withdraw an annuity (both bank and fast online loans) and we will explain what annuity installments mean.
1. First Investment Bank – Consumer Loans
- Loan with annuity monthly installments.
- Currency: BGN or their equivalent in Euro, high amount of credit – up to BGN 50 000, repayment term up to 10 years.
- Credit only against identity card , if you are a Bulgarian citizen and you work on a labor contract or a similar contract or you are exercising a liberal profession.
- Without guarantors, a loan without collateral.
- Purpose: for purchases of furniture and household appliances, for home or car repair, for training, treatment, holidays and excursions, current duties or simply because you need money for your needs.
- Interest terms: fixed interest for the first year and variable for the remaining term of the loan, lower interest rates for translation of declared income in the bank, preferences for online application.
- There is no fee for applying online, there is a fee for examining documents when applying to a bank office, no fee for early repayment.
- Fast pre-approval within 24 hours.
- Credit money is used once.
- There is an opportunity to make a “calm” insurance to protect the loan.
2. Expressbank – Fixed credit
- Fixed repayment installment for the entire loan period at the amount of BGN 99.
- Fixed amount of the loan – BGN 4 900, fixed repayment term – 5 years.
- Apply online.
- Fast approval and relaxation.
- The interest is fixed for the whole period.
- There is no approval fee for all borrowers.
- No guarantor required.
3. United Bulgarian Bank – Consumer loan with fixed interest rate
- An annuity installment loan – is repaid with a fixed, flat / annuity / monthly installment, which gives you security and the opportunity to properly plan your expenses.
- Amount of 500 to 20000 leva, loan term from 6 to 60 months.
- Simplified procedure for applying with minimum documents: application – declaration for granting a consumer credit and an ID card.
- Loans without guarantor and without transfer of salary – are not required.
- Affordable financial terms at a fixed interest rate.
- There is no application fee, there is a credit assessment fee (depends on the value of the withdrawn money), an account fee servicing the loan and a pre-term repayment fee.
- Opportunity to repay the credit via UBB ATM.
- You can activate a life insurance program: “Credit protection”.
4. Sibban – Consumer Loan “For You”
- The loan is repaid by equal amounts, monthly annuity repayments of a certain number of the month, the number corresponding to the number of months. Everything is described in an individual repayment plan, which is an integral part of the credit agreement.
- An annuity loan of BGN 1 000 to 35 000, a repayment period of 1 to 10 years.
- Key documents: a copy of an identity document, a request for a loan, and an employer’s consent to transfer the salary to a bank account.
- Attractive variable interest, consisting of a reference interest rate and a surcharge, is affected by the repayment term.
- Credit collateral – pledge on future receivables originating from a labor / equivalent / or service relationship.
- The money is utilized once, fully and immediately by crediting the amount on the current account with a issued bank card, after the guarantee has been established.
- There is no fee for early repayment, there are charges according to the Bank’s Tariff.
- Bonus: Free issuance of a revolving credit card with a grace period.
5. Micro credit – CrediHome
- Loan with equal weekly or monthly repayment installments – from 9 to 48 weeks or from 3 to 12 months.
- Credit for all – from 200 to 3300 leva.
- Easy approval and clear conditions.
- Applying – online at any time of the day, by calling a national telephone or a local office.
- Loan only against ID card.
- No collateral from bailiffs and bets is required.
- Fixed interest for the whole period.
- Credit without proof of income .
- You get cash in cash.
- The service is from a personal credit consultant.
- Repayment of the loan – by bank transfer, cashier, in an office or in a time and place convenient for the borrowers of your credit consultant.
6. Feratoum – Contribution Loan
- Repayment of equal monthly installments, as you yourself choose the number of months to repay – from 2 to 12.
- For all unforeseen expenses and necessity of money, amount from 400 to 3500 leva.
- Working hours – 7 days a week, credit on Saturdays and Sundays and on weekends and public holidays.
- There is a credit calculator to calculate accurately the entire amount due, the amount of the installment and the value of the interest.
- Apply online or in a partner office.
- You get up to 5 minutes with CMC.
- Conditions for granting – Bulgarian citizens aged 18 to 70 with permanent address registration, income and pure credit history.
- It is necessary to provide a guarantor for the performance of the contract for this loan with annuity installments – a natural person or a bank, a partner of the company.
- You can pay the loan in parts, you can get a document about the actual credit status.
What is an annuity loan?
Repayment of credit money is made through repayment installments, which contain a certain amount of interest and principal.
In order for the repayments to be convenient and beneficial, it is very important that we properly choose and agree on their type, size and exact date of importation.
So we have to arrange the repayment of the loans so that it does not hinder us and is secured with our income obtained from different sources.
It is necessary to cover our urgent expenses, the utility bills, to have money for food, clothing, medicines, education, recreation and other current needs and to have the means to pay the full amount of the repayment installment.
An integral part of the loan agreement is the individual repayment plan specifying the amount of the repayment installment and the maturity date.
It is prepared by the creditor with our active participation. Banks and financial companies offer online credit calculators with the help of which we can make calculation variants and we can pre-calculate the entire amount due and the amount of the repayment installment.
What is an annuity loan? In practice, we know two types of repayment installments – equal (annuity) and declining. For equal contributions, it is characteristic that they remain the same, fixed for the entire duration of the loan.
In equal installments the interest rate is constantly decreasing and the principal is increased by the same amount.
Most borrowers prefer equal repayments, one of the reasons being that they are a constant same expense that is known does not change over the time provided for repayment of loans.
In principle, equal repayments make more expensive loans from declining, but they are for people with less high income.
The way we pay for withdrawn credits also forms our credit history, which is available to all legitimate creditors enrolled in the Central Register of the BNB, and defines us as payers, whether we are loyal and reliable.