Car Loan Auto

About the credit

Purpose

purchasing new or second-hand cars from authorized dealers or individuals

refinancing credits issued for the same purpose by other financial institutions

Maximum age of the car at the time of purchase – maximum 7 years

Minimum / maximum term

From 61 days to 5 years

Maximum credit amount

300,000 MDL

Advantages

No pledge
Minimum set of documents
Quick examination of credit applications
No CASCO insurance
Low costs, transparent and flexible credit conditions

Eligibility criteria of the applicant

citizenship of the Republic of Moldova or foreign citizenship / statelessness – tax residence of the Republic of Moldova
minimum age of 18 years old at the date of credit issuance
maximum age of 65 years old at the maturity date of the credit
official income and capacity to pay that meets the bank requirements
at least 4 months of work at the current job and at least 3 salary records in the State Tax Service Report
no credits / loans subject to enforcement in the last 3 years

Required documents

documents confirming the monthly income of the applicant and the co-debtor(s) – the salary is extracted from the database of the State Tax Service/ the certificate confirming the military pension and other types of pensions/ confirmation of receipt of remittances/ lease contract/ declaration of income/ employment contract from abroad (for co-debtor)/ decision on distribution of dividends and others (as applicable)
the identity card and the supplementary sheet of the applicant and the co-debtor(s)
during the last calendar year, no arrears of more than 61 days for the repayment of credits/ loans contracted from other financial institutions/ banks
the credit contract with the repayment schedule in case of refinancing
the car sale and purchase pre-contract
a copy of the certificate of registration

Costs

Interest Rate – 13.24%, consisting of the NBM Reference Index (4.12%) + Fixed Margin of the Bank (9.12%)
File analysis commission - 700 MDL

Example of calculation

For a credit in the amount of 300,000 MDL with a term of 5 years, the monthly payment is 6,865.62 MDL, EAIR is 14.18% , the total amount payable is 412,637.10 MDL.