Telekom Bank launches new consumer credit products in Romania

Telekom Banking, the project developed by Telekom Romania and Polish lender Alior Bank, has launched a new consumer loan with fixed installments.

Customers can contract consumer loans denominated in local currency and with a value of up to RON 150,000 (EUR 32,000) at a fixed interest rate, according to a press release.

The fixed interest rate starts from 7.9% for refinancing loans of over RON 70,000, for clients with a monthly income of at least RON 2,000 (EUR 420) paid in an account opened at Telekom Banking.

For new loans, the fixed interest rate starts at 8.9% and depends on the size of the loan, the customer’s rating profile and credit profile.

The granting process is an easy one, the clients having immediate access to the money borrowed through a debit card offered free of charge, on the spot, which allows withdrawals without commissions from any ATM in the world. Customers can also access the credit through the free Internet and Mobile Banking services.

There is no analysis fee for refinancing loans, and for new loans the analysis fee is RON 250 (EUR 52). There are no additional costs for life insurance or unemployment insurance.

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