Financial lease

Financial lease is a special type of loan addressed to legal persons and sole traders as well as to active individuals.
The loan is granted for the acquisition of movables and immovable goods.
Parties to the financial lease agreement are the Bank in its capacity of Lessor /Creditor/ and the Lessee /Borrower, Customer/. The Lessee could acquire the respective property during the validity of the agreement or after its expiration. Along with transferring the ownership over the property the Bank is obliged to transfer to the Lessee also its rights towards the third party.

ACCOUNT AND CURRENCY TYPE:

  • Financial lease is being approved in EUR, USD or BGN with the Euro-clause included n the lease agreement;
  • The maximum amount of the loan is determined by the management board of the Bank on the basis of the application of the Borrower and up to the amount of the property proposed for lease /movables or real estate/;

TERM - up to 10 /ten/ years;

INTEREST RATES - according to the current Interest Bulletin of Teximbank;

LOAN REPAYMENT:

  • The lease installment are paid in accordance with a lease repayment plan adopted by the parties;
  • In case of nonpayment on behalf of the Lessee of 3 /three/ consecutive lease installments, the lease agreement is considered terminated and the already paid installments remain in favor of the Bank;

INSURANCE OF THE LOAN:

The Lessee insures the leased property in favor of the Bank and through the Bank in its capacity of insurance agent.