Amount:

• up to 80% of the value of the purchased agricultural land, if the land is the only collateral for the loan;

• up to 100% of the value of the purchased agricultural land, if additional collateral is offered in the form of mortgage of property/ properties with a value of at least 25% of the price of the agricultural land accepted by the bank

Loan currency:

BGN and EUR

Term:

up to 15 years

Period of absorption:

·         up to 12 month

Partial absorption of the loan funds is allowed up to 80% of the accepted value of the collateral, whereby within 30 days after the absorption, a first in line mortgage must be established on the agricultural land purchased.

Interest rate:

The annual interest rate of the loan is formed on the basis of an internal bank credit rating - compound interest BIRa/BIRb/BIRc* + surcharge.

Possibility of an additional interest rate preference for clients who also use other Fibank products.

* Base interest rate (BIR) is applicable to business clients, and it is a variable interest rate index that the Bank uses as a base interest rate when calculating the variable interest rate on the loan applicable to the contract. The BIR is approved by Fibank's Board of Directors and calculated according to a methodology announced by Fibank for each individual type of currency, based on the ratio between the planned costs of the Bank's liabilities and the market interest rates for the same currency, applicable to loans in national and foreign currencies. BIRa, BIRb and BIRc represent the base interest rate adjusted by a coefficient for the market environment for business clients with an internal bank credit rating, respectively in the interval 1-2 (for BIRa), 3-4 (for BIRb) and 5-6 (for BIRc) . The Bank makes public the base interest rates - BIRa, BIRb and BIRc that it applies, by announcing and publishing them on the Bank's website at www.fibank.bg;  

Method of repayment:

·         annuity installments;

·         equal installments on the principal;

·         individual repayment schedule.

Collateral:

• first in line mortgage on the agricultural land purchased with the loan funds;

• contractual mortgage on other property;

• guarantee by the owners of the company and additional collateral provided or their inclusion as co-debtors under the loan agreement, except when the borrowers are sole traders or agricultural cooperatives;

• a contract for financial collateral with the provision of a pledge on the payment accounts or a special pledge of receivables on the bank accounts of the loan applicant in Fibank.