Take advantage of the grace period! For the amount of all purchases in shops and on the Internet, paid for with a credit card in the current month and reimbursed in full by the end of the next month, you will NOT pay interest!
The grace period applies if you have no outstanding interest and fees and does not apply to cash withdrawals.
If you are unable to repay the full amount to benefit from the grace period, repay 5% of the amount of credit used and interest each month. This way you avoid penalties and continue to enjoy your credit card.
Representative calculation example:
For a line of credit in the amount of 30 000 lei for a term of 24 months with an interest rate of 21.00%, the following payments are expected if the entire limit is utilized:
- at merchants or online and permanently respecting the grace period of up to 60 days during the validity of the card - the annual effective interest rate (AER) constitutes 0%.
- in case of repayment in equal installments over 24 months the annual percentage rate of charge (APR) will be 23.14%. The maximum possible amount of payment will be 2 035.07 lei and is made up of 5% of the amount of the credit utilized of 1 500 lei and the cumulative interest of 535.07 lei.
- by withdrawing cash at an ATM and repaying it in equal installments over 24 months, the annual effective interest (AEE) will be 25.65%. The maximum possible payment amount will be 2 035.07 lei and is made up of 5% of the amount of the credit used of 1 500 lei and the accumulated interest of 535.07 lei.
The Bank reminds consumers of their responsibility to repay loans.
