Creditor. Address. Telephone Website. Credit type. Total credit amount Maximum credit amount available according to the credit agreement

Size: px

Start display at page:

Download "Creditor. Address. Telephone Website. Credit type. Total credit amount Maximum credit amount available according to the credit agreement"

Allen Sharp
8 years ago
Views:

1 Standard Information on European Consumer Crediting Credit Card VISA Universala for Resident Individuals 1. Creditor s and mediator s title and contact information Creditor Address Telephone Website AS PrivatBank Unified registration No Registered address: 1 Muitas Str., Riga, LV 1134 Location of provision of the service: (branch address) Information telephone Description of key features of the crediting service Credit type Total credit amount Maximum credit amount available according to the credit agreement Revolving credit line with the credit card VISA Universālā EUR 2800 * * Total Credit the maximum Credit Amount of available credit limits granted by the Bank to the Customer. After the receipt of the necessary documents and check of the documents submitted to the Bank, it will take a decision on the possibility of determining the available credit limits which may be equal to or less than the total amount of credit. Credit disbursement term How and when you receive the money Validity term of the credit agreement Free access to funds Indefinite

, Riga, LV 1134 Location of provision of the service: (branch address) Information telephone 80001515 www.privatbank.lv 2.

2 Payments to be made by the consumer and the payment manner, if any You will make the following payments: monthly card maintenance fee EUR Interest and/or credit interest is paid as follows: a minimum payment of 5% of the credit line amount use (min. EUR 7.11) are payable once in month up to 25th day of the month following the reporting month; starting with the 31st day, the interest rate of 22.8% per annum, or 1.9% per month per transaction applies to the credit line amount used. Total payable amount Total amount plus interest and possible costs under your credit. A credit issued as a deferred payment for goods or services related with delivery of specific goods or provision of specific services (if Goods/service title Price in money Credit collateral (if A description of collateral of the credit agreement Payments are not redirected to immediate repayment of the total credit amount (if EUR 3. Credit costs The credit interest rate or different interest rates, if applicable to the credit agreement Fixed interest rate: starting with the 31st day, the interest rate of 22.8% per annum, or 1.9% per month per transaction applies to the credit line amount used.

11) are payable once in month up to 25th day of the month following the reporting month; starting with the 31st day, the interest rate of 22.8% per annum, or 1.

3 Interest for unauthorised use of the overdraft 22.8% per annum. Annual interest rate (AIR) Total credit costs expressed as annual interest on the total credit amount. The AIR is stated for convenient comparison of different offers. GPL=35,58% Assumptions: 1) the customer is free to receive the card credit limit; however, it is assumed that the customer receives the card credit limit immediately and in full. 2) the credit agreement does not provide for a fixed payment schedule; it is assumed that the credit is issued for one year and is repaid in 12 equal monthly instalments. Is it required, for the purposes of obtaining the credit or under the offered credit receipt terms to sign an insurance agreement as a credit guarantee, or to use another additional service? If costs related to an additional service are unknown to the creditor, they are not included in the AIR. Example showing all assumptions mentioned in the annual interest rate calculation: you receive the total credit amount worth EUR 2800 immediately and in full right after signing the credit agreement. The fee for receiving the credit funds in AS "PrivatBank" ATMs EUR 112 (4% x EUR 2800); To repay the credit amount and interest payments (22.8% per annum), you pay an equal amount of EUR 263,14 every month for a year. So, the total credit costs make up EUR * 12 + EUR 112 = EUR No No Appropriate costs

GPL=35,58% Assumptions: 1) the customer is free to receive the card credit limit; however, it is assumed that the customer receives the card credit limit immediately and in full.

4 Maintenance of one or several accounts for registration of payments and issue of the credit (if Credit card account free Specific payment tool (i.e. a credit card) costs (if Bank s fee for receipt of cash: Cash withdrawal fee in AS "PrivatBank" and other banks' ATMs in Latvia (personal funds) without fee Cash withdrawal fee in AS "PrivatBank" and its ATMs, Fee for cash withdrawal at PrivatBank (Ukraine), PrivatBank, PrivatBank (Georgia) and their ATMs and other banks' ATMs in Latvia and abroad (credit funds) depending on the amount to be cashed out. Fee for cash withdrawal at other banks and their ATMs (personal funds) 1% EUR Fee for cash withdrawal at PrivatBank (Ukraine), PrivatBank, PrivatBank (Georgia) and their ATMs (personal funds) 1% of amount Day limit on cash withdrawal equivalent of EUR. Fee for cash withdrawal with negative card balance (credit funds): Transaction amount Fee 1,42 14,23 EUR 0,71 EUR 14,24 21,34 EUR 1,14 EUR 21,35 28,46 EUR 1,57 EUR 28,47 35,57 EUR 1,99 EUR 35,58 42,69 EUR 2,42 EUR

Cash withdrawal fee in AS "PrivatBank" and other banks' ATMs in Latvia (personal funds) without fee Cash withdrawal fee in AS "PrivatBank" and its ATMs, Fee for cash withdrawal at PrivatBank

5 Over 42,69 EUR 4% Other costs under the credit agreement (if Provisions that determine change to said costs under the credit agreement (if The duty to pay notary public s services (if No The bank may unilaterally and at any time increase or decrease the amount of payments related to the credit agreement and specified in the Pricelist. Costs related to late payments Late payments may trigger serious consequences (e.g. enforced sale of real estate) and obstruct obtaining loans in future. The following penalties shall apply in case of late payments: If the payments were not made to the last business day of a current month (including), starting with the first date of the next month will be applied the contractual penalty of EUR 4.27 (single), in the case of credit or interest late payment was in the amount of EUR 8.54 or more. The bank may suspend (block) operations of the credit card until the debt is repaid. 4. Other significant legal aspects Right to step out of the agreement You may step out of the credit agreement within 14 calendar days. Yes Early repayment of the credit You may repay the credit before the term, in full or in part, at any time. The creditor is entitled to a compensation in case of early repayment of the credit (if The customer may repay the loan before the term with a written notice thereof to the bank.

Costs related to late payments Late payments may trigger serious consequences (e.g. enforced sale of real estate) and obstruct obtaining loans in future.

6 Use of the database The creditor must promptly and for free report the outcome of use of the database if the rejection to disburse the credit is based on the information obtained from the database. This provision does not apply if provision of such information is restricted by legal acts of the European Union or contradicts purposes of public order or public safety. Yes The right to receive a draft credit agreement Yes You may request and receive free of charge a copy of the draft credit agreement. This provision does not apply if the creditor does not want to enter the credit agreement with you upon receipt of your request.

This provision does not apply if provision of such information is restricted by legal acts of the European Union or contradicts purposes of public order or

LAW ON THE PROTECTION OF FINANCIAL SERVICES CONSUMERS

LAW ON THE PROTECTION OF FINANCIAL SERVICES CONSUMERS Chapter I GENERAL PROVISIONS Subject matter Article 1 This Law shall regulate the rights of consumers of financial services provided by banks, financial