The loan enables clients to protect themselves against interest rate increases

UniCredit Bulbank reduces the fees under one of its most innovative products – the Mini Credit. The fees under the loan that enables clients to protect themselves against interest rate increases is now 12.5% of the obtained amounts instead of the previously applied 16%.

This new and lower fee includes the one-time payable at the beginning costs for the loan. The advanced payment “insures” the clients against the risk from interest rate increases due to influences on the international or the local markets. The repayment installments of “Mini Credit” remain unchanged during the term of the loan – in practice the client gets back his principal in equal installments over 12 months.

With “Mini Credit” there is no interest in the ordinary sense of the word and this eliminates the risk from increase in the interest rate levels which we have witnessed due to the changed international financial environment over the last years, experts of UniCredit Bulbank explained.

“Mini Credit” is disbursed in three varieties – BGN 1,000, BGN 2,000 or BGN 3,000, all three possible amounts being disbursed for a period of one year. This loan is special for the fact that all service-related fees and interests are payable on a one-time basis upon disbursal of the loan. UniCredit Bulbank gives clients a choice to pay for the loan expenses with own funds or with the borrowed funds, thus keeping their available money. Later the borrower repays his/her loan in 12 equal fixed installments.