CEC Bank launches the "First Car" loan

In late March, CEC Bank announced that the financial institution has joined the governmental program of stimulation of the new cars purchase and launched the "First Car" loan

2015-04-03 20:44:40 - From the Print Edition

The new product of funding benefits from an interest composed of ROBOR 6M and a fixed margin of 2.9 per cent, according to CEC Bank′s press release. In addition, the bank does not charge award or administration fees, read the release. The maximum duration of the loan is five years, with a guarantee period up to 90 days. The applicants benefit from the guarantee of the Romanian state, which is in the maximum 50 per cent from the value of the granted loan. According to the program, the customers may purchase new cars, in amounts up to 50,000 RON (around 11,360 Euro) plus VAT, the contracted loan being of maximum 95 per cent from the purchase price of the car. "Through the launch of the "First Car" loan, CEC Bank continues the policy to support the governmental programs for population," said Radu Gratian Ghetea, president general director of CEC Bank. "The new funding product is being granted in advantageous conditions for customers, with a lower interest than the maximal one provided by law and with zero award and administration fees."