Before entering into a contract to get a loan, you must receive complete and clear information on the conditions and costs of the loan. Such information should be included in the following documents which should be provided to you:

  • The European Standardized Information Sheet (ESIS), for home loans

  • The Standard European Consumer Credit Information (SECCI) for personal loans above €200 and up to €75,000.

These documents shall help you compare different proposals and allow you to take an informed decision that matches your financial needs.

The Bank granting the loan shall evaluate your capacity to pay the credit and evaluate if the respective loan is adequate to your objectives.

The Bank is required to reply to any questions which you may have and to present an  evaluation of risks that the you might face with such loan.

When taking out a loan, you have  the right to receive a copy of the contract and you are advised to read it carefully and ask for any clarifications before signing it.

You should also receive the following documents from the Bank during the existence of the loan:

  • a statement at least once a year;

  • an amortization schedule with the loan repayment plan upon request and free of charge (if applicable);

  • written communication of any transfer of the loan or the contract to another party;

  • notification of any changes to contractual terms and conditions before these become effective;

  • information of your right to refuse any proposed changes without paying any fees and charges and, in that case, the right to withdraw from the contract;

  • information on how to make early repayments at any time, including partial ones, of the amount owed thereby reducing the costs associated with the loan.