Financing of individuals
The Bank offers different schemes of discount operations, letters of credit, bank guarantees and other loan products. For agriculture producers, on the grounds of a Memorandum signed with State Agriculture Fund – Paying Agency, Teximbank offers loans to applicants under the measures of the Common Agriculture Policy and Common Fisheries Policy of EU.
METHOLOGY FOR DETERMINATION OF REFERENCE INTEREST RATE
The reference interest rate, based on which the interest rate for loans is determined, is formed as a sum of the average 3-month Index Leonia /for BGN/ or Euribor /for Euro / or Libor /for US Dollars/ plus an add-on by the Bank. Teximbank has the right to change the interest rate when the 3-month Leonia/Еuribor/Libor – Index changes, by notifying the customer via the Bank’s internet page. The average 3-month Leonia/Еuribor/Libor - Index is formed as an arithmetic mean of the daily values of the Leonia/Еuribor/Libor - Index, published by BNB for a period of 90 /ninety/ days. This is in compliance with a decision of management boards of Teximbank and its Interest Bulletin. The 3-month Leonia/Еuribor/Libor - Index is calculated every three months. As of the moment of conclusion of the agreement the 3-month Leonia/Еuribor/Libor - Index is valid for the period specified in the Interest Bulletin of the Bank.