In the case of old and disadvantageous debt consolidation or refinancing is a good solution. Thanks to bank refinancing or merging loans, unfavorable loans can be replaced by a new loan with better conditions. bank offers these products under the name RePůjčka, which is associated with minimal administrative demands and the possibility to save several thousand crowns thanks to the reduction of regular installments.
Refinancing and consolidation with bank is a way to replace unfavorable loans with a better repayment loan. The Bank offers to transfer one or more loans of up to CZK 700,000 with a repayment period of 1 to 10 years . In addition, Bank provides loan mergers with the option to borrow some extra money.
What requirements must an applicant for refinancing or consolidate bank loans have to meet?
- minimum age of 18 years
- permanent residence in the Czech Republic
- regular and sufficiently high income
- favorable credit history
Different types of loans can be refinanced or merged: bank and non-bank loans , credit cards, hire-purchase cards, overdrafts, or car loans . bank will take care of the transfer of loans, or at least provide everything necessary to move them online from the comfort of home.
bank merger loans – basic parameters
- Consolidation amount: CZK 50,000 to CZK 700,000
- Maximum number of loans: unlimited
- Need to prove income: yes
- Checking the Debtors Register: yes
- Settlement, maintenance or early repayment fee: free
- Maturity: 12 to 120 months
- APR: from 6.06%
Clients can change the term and amount of the payment free of charge in internet banking to the bank account at bank, which will be established automatically for each applicant for consolidation or refinancing .
Why does Bank’s consolidation pay off?
Thanks to more favorable installment terms, several thousand crowns can be saved per month. In case of refinancing and consolidation with bank, clients can also borrow extra money up to CZK 700,000 (together with transferred loans). As a gift to Bank provides so-called E-Lufthaat – a foldable inflatable bed that can be used in the garden, by the water and in the mountains.
- settlement, management and early repayment is free
- any number of loans up to CZK 700,000 can be merged
- easy handling
- the possibility of a regular monthly installment reduction of up to 50%
- repayment insurance
- bank account with bank
- low approval of applications (around 30%)
The bank account with bank will be set up automatically and free of charge for the client. Account offers withdrawals from ATMs at no charge. In Internet banking, you can then set the amount of installments and the date of payment according to your preferences.
Payment capability insurance
bank consolidation insurance can be arranged for inability to repay for various reasons. The insurance is offered in two variants of the scope of the insurance coverage and can be applied for together with the loan application.
- Package A: incapacity for work longer than 30 days, permanent disability, death due to accident or illness
- Package B: loss of job, incapacity for work for more than 30 days, permanent disability, death due to accident or illness
The advantage of this insurance is its favorable price . For Package A, the client pays 0.15% of the provided loan per month and 0.21% of the loan provided for Package B.
In case of loss of employment or incapacity for work, the monthly payment will be paid by the insurance company. If permanent disability or death occurs as a result of an accident or illness, the insurance company will pay the remaining part of the loan up to CZK 500,000.
bank refinancing and consolidation can be handled online
bank will arrange both consolidation and refinancing while you wait and without excessive paperwork. You can apply for a new loan online, by phone or at a branch, and clients will be notified of the application immediately. You need to provide proof of identity and one contract for one of the loans. The bank will arrange the transfer of the main loan and prepare everything needed to terminate other loans.