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Asset Professional Loan

Asset Professional Loan

Asset Professional is a business overdraft type of loan, allowing individuals practicing professions such as: doctors, dentists, pharmacists, lawyers, notaries, CPAs, architects, PEAs. to exceed their current account balance up to a limit, agreed in advance. For this purpose the clients are required to keep their current accounts at International Asset Bank AD.

 

The loan is designed for covering temporary shortage of own funds and the maximum amount of the overdraft will be determined based on the value of the funds, serving as collateral.

  • Simplified procedure for extending granting an overdraft on current accounts of freelance individuals;
  • High maximum amount of the loan – BGN 150 000 or the equivalent in foreign currency;
  • Option to withdraw/pay amounts in excess of those available on your account;
  • The funds are at your disposal at any time via the terminal devices: АТМ or POS;
  • No charges for disbursement, management and early repayment;
  • Opportunity for free issuance of MasterCard Asset revolving credit card with preferential interest rate of 10%;
  • Competitive interest rates, fees and commissions.
  • Loan amount – up to BGN 150 000 or the equivalent in foreign currency;
  • Repayment term:
    - up to 60 months for loans of up to BGN 30 000 BGN;
    - up to 180 months for loans in excess of BGN 30 000 BGN, without a repayment plan for the initial 36 months and for the remaining period – with minimum 4 repayment instalments, upon client’s request;
  • Repayment mode: automatically, upon receipt of funds to the current account and according to an approved repayment plan;
  • Collateral:
    - up to BGN 10 000 – Accident and Permanent Disability insurance;
    - from BGN 10 000 to BGN 30 000 – guarantee from at least 1 individual or legal entity and/or pledge of movable of property/mortgage of real property;
    - from BGN 30 000 to BGN 150 000 – mortgage of real property and/or guarantee from at least 1 individual or legal entity and/or pledge of movable property.

Annual interest rate

  • For loan contracts with mortgage collateral:
BGN EUR
In case of proven income:
 3 m. SOFIBOR + 4.75%  6 m. EURIBOR + 4.75%
In case of unproven income and payment of social insurance contributions at the respective minimum threshold:
  3 m. SOFIBOR + 6.25%  6 m. EURIBOR + 6.25% 
  • For loan contracts without mortgage collateral:
BGN EUR
In case of proven income:  
 3 m. SOFIBOR + 5.50%  6 m. EURIBOR + 5.50% 
In case of inproven income and payment of social insurance contributions at the respective minimum threshold:  
 3 m. SOFIBOR + 7.00%  6 m. EURIBOR + 7.00% 

 

* The annual interest rate is floating and based on a reference interest rate (3m. SOFIBOR for loans in BGN and 6m. EURIBOR for loans in EUR) + the fixed margins indicated above.

 

Fees and commissions:

 

  • For initial acceptance of the documents – BGN 60;
  • For credit analysis – 0.1% of the amount authorised, minimum BGN 100;
  • Monthly service charge for card/current account: BGN 1;
  • For processing documents for establishment of mortgage – BGN 120;
  • For processing documents for deregistration of mortgage established – BGN 120;
  • For processing documents for renegotiation of individual terms – BGN 60;
  • Preparation of an application for registration of pledge in the register under SPA or for drawing up of documents for establishment of real pledge – BGN 60.
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