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LICENŢǍ WORKS

LOANS FOR HOUSING AND ITS PROCESSING at Banca Transilvania

The Christian University "Dimitrie Cantemir"


BUCHAREST

Faculty of Economics

Cluj-Napoca

Specialization: Finance and BǍNCI

Cluj


2010

CONTENTS

INTRODUCTION ................................................. .................................................. ........ 3

1. TRANSYLVANIA BǍNCII development and organization .... 5

1.1. History of Transylvania Bank ... ... ... ... ... ... ... ... ... ... ... ... ... .......... 5

1.2. Transylvania Bank Structure ... ... ... ... ... ... ........... ... ... ... 6

1.2.1. Transylvania Bank Management ... ... ... ... ... ... ... ... ... ... ... ... ...................... 6

1.2.2. Committee officers and responsibilities ......................... 7

2. PRODUCED ON LOAN FROM BANK TRANSYLVANIA ..................... 9

2.1. BT credit situation ............................................. ..... 9

2.2. Credits for individuals ... ... ... ... ... ... ... ... ... ....... ... ... ... ... ... ... ... ... ... ... ... ................... 10

2.2.1. Home Loan Casǎ ... ... ... ... ... .... ... ... ... ... ... ... ... ... ... ... ... ......................... 10

2.2.2. Consumer credit ... ... ... ... ... ... ... ... ... ... ... ...... ... ... ... ... ... ...... ... ........ 12

2.2.3. Mortgage loan ... ... ... ... ... ... ... ... .. ... ... ... ... ... ... ... ... ... ... ... ... ......... 13

2.2.4. Bridge loan ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ..... ... ....... 13

2.3. Corporate officer ... ... ... ... ... ... ..... ... ... ... ... ... ... ... ... ... ... ... ......................... ... 14

2.3.1. Start Up Loans ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ......... 15

2.3.2. Fast Loans ... ... .... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ......... 15

2.3.2.1. Without any proper investment credit ..................................... 16

2.3.2.2. Zero interest credit ............................................... ................. 17

2.3.2.3. 100% input credit .............................................. ........,..... 17

2.3.2.4. Loan "An hour without any investment, the EBRD sources ........... 17

2.4. Corporate credit ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ..... ... ... ... ................... 18

3. General considerations

FOR loans ............................................... ........... 20

3.1. Credit terms of content and relationship ... ... ... ... ... .. ... ... ............................ 20

3.1.1. Credit functions ... ... ... ... ... ... ................................ ... ... ... ..... .. ... ....... 20

3.1.2. Distinctive features of credit ... ... ... ... ... ... ... ... ... ... ......... 21

3.1.3. Loan classification ................................................ ............................... 22

3.1.4. Credit policy ............................................... ..................................... 23

3.2. Considerations regarding the risks in lending ............................................. .. 24

03.03. And interest rate ... ... ... ... ... ... ... ....................................... ............... 25

3.4. Commissions ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .... ... ... ... ... ... ........ 28

4. LOANS FOR HOUSING ............................................... .................... 29

4.1. General considerations on housing loans .................... 29

4.2. Credit supply to residential ............................................. ................ 30

4.2.1. Transylvania Bank Offer Housing ...................................... 30

4.2.2. Housing Bank ............................................... ............................. 30

4.2.3. National Housing Agency .............................................. ........ 31

4.2.4. Other bidders for housing credit ............................................ .. 32

4.3. Importance locuinţǎ credit .............................................. ............ 32

4.4. Need new real estate projects ............................................. .............. 33

5. ELIGIBILITǍŢI FINANCIAL ANALYSIS OF CUSTOMER ............. 35

5.1. Analysis bonitǎţi individuals .............................................. ................ 35

5.2. Financially economical and legal persons ........................... 36

5.2.1. Liquidity Analysis ................................................ ........................................ 38

5.2.2. Solvency analysis ................................................ ................................ 39

5.3 The grant and loan approval ............................................. ................. 39

5.3.3. Credit Contract ............................................... ................................... 40

5.3.2. Secure credit ................................................ ............................... 41

5.3.2. Credit insurance ................................................ ............................... 42

5.4. Repayment of loans and payment rates ............................................. ..... 43

5.5. Collateral execution ............................................... .......................... 44

6. GRANT a mortgage

At Banca Transilvania (CASE STUDY) .................................... 45

CONCLUSIONS AND PROPOSALS ............................................... ................................... 49

1. Conclusion ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .... ... ... ..... ... ... ..... 49

2. Proposed ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .... ... ... ... ...... ... .. 50

ANNEXES ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...... ... ... ... ... ... ... ... ... ... ... .. ... ..... 52

Annex 1. Request credit for individuals ... ........................................... 52

Annex 2. Income ... .............................................. .................................. 55

Annex 3. Consulting agreement database CIB

Banking ... ................................................ .................................................. .... 56

Annex 4. Agreement transmission, processing and consultation shall

to s.c. Credit bureau ... ... ... ... ... ... ... ... ... ... ... ... ................... 57

Annex 5. Affidavit ... ... ... ... ... ... ... ... .......................... 58

Annex 6. Credit agreement for individuals ... ... ... ................................ 59

References (selective) ... ... ... ... ... ... ... ... ... ... ... ... ... ................................. ....... 63

INTRODUCTION

To better predict future cash banks and there should see more detail about their past, and this requires a new, thought to perceapǎ truth about our world. "The thinking is new for a new world in our understanding, under which runs LOGO society movement as a whole and its main structure, its submission on the staircase historic progress."

Reconsideration of antiquity, the money was used to buy or sell products, becoming the most widely used means of flat, long, consisting of gold or other precious materials. "Aristotle once considered for the first unit of mǎsurǎ money value." Sometimes, traders just figured exchange goods without using monetarǎ mǎsură unit, but these shifts yield was much lower than that used in the precious metal coin. "Today, money used to plǎţi numǎr are the land of great and very different. Money was and continuǎ life be many ways known in particular under the name of money metal, paper money, electronic money, money in your account, scriptural money, credit money, valutǎ, money with intrinsic value, money materials and other forms of money used in economics.

In the Middle Ages, zarafii were separated as a category socialǎ which dealt with trade in currency and coin localǎ foreigners. Bank in the modern sense is a product of both the organized and legalized cămǎtarilor has dezvoltǎri broker dealers antiques and survivors of the Middle Ages, but a result of circulation of a different kind of money at the side of precious metal or of intrinsecǎ currency value by creating cash changeover.

The first bank appeared in Venice in 1171 because of Doge Michele XI named Banco di Venice, in order to receive city funds. The emergence of banks in the normal sense and constructive social and cultural one can speak of the first modern banks as Bank of Amsterdam in 1608, Bank of Hamburg in 1619, the Bank of Stockholm in 1650 and the Bank of England in 1694 and left some of them until you today, interest charged on loans and fees applied to accounts and deposits represent sources of income and ultimately the profitability of these banks. Subsequently developed and better organized than other banks to reach today's complex and competitive banking system in all respects.

Commercial banks have an important role in the exploitation of capital, mobilizing resources and bank loans between agencies. Equity holders and creditors their beneficiaries carry trade debtors money. Bank deposits called dobândǎ cost of supporting a bonus and then granting credit in obtaining money accumulated earnings through interest and fees collected, the most important activity is actually lending activity. Banks only accept relationships with customers and qualifying their customers împrumutǎ exercitânduşi fair exchange functions, storage, transfer and financing.

Commercial banks is a basic link of any banking system and carry out all types of banking transactions. However, basic operations are represented by making deposits and using them to issue credit traders. They are organized as limited companies and seeks profit by exercising its role as intermediary agents of non-banking system.

Concentration banking sector has become a current phenomenon, while in Romania is in the process of enlargement. The banking system is complex due to technical knowledge and information, due to financial instrumentation in the money market, capital and valutarǎ but modern security systems and credit and the use of "monedǎ elecronicǎ" using cards and internet banking which is a altǎ complexitǎţi dovadǎ the banking system. As regulated banking system is the quality of commercial bǎncilor National Bank direct subordinates principal responsibility and stability in the Romanian banking system. An important role in maintaining financial balance of national economy and it's activities in lending is the principle of budgetary balance that may influence the central bank policy and lending those affected. A modern banking system refers to the fact that it takes more advantageous contractual conditions and creating a framework for recovery of loans granted in terms of transparency and free competition.

Organization and operation of commercial banks is regulated in Romania of legally Law (No. 31/1990) on the company and the Emergency Ordinance (No. 99/2006) on the community's credit and capital adequacy. Also Law (No. 58/1998) for banking, subsequently amended several times by law (no. 437/2001), Law (no. 485/2003) and Law (no. 131/2006) which then was subsequently repealed by Ordinance (No. 99/2006) on credit institutions and capital adequacy. In turn Law (No. 227/2007) to approve Emergency Ordinance (No. 99/2006) on credit institutions and capital adequacy is used to regulate banking activities including Transylvania Bank as banking and credit institution.

This paper aims to explain how housing loan processing, is divided into six chapters, the first chapter aims to present the development and organization of Transylvania Bank, lending to its body structure and the second chapter detailing products from those related to credit BT. Chapter three considers the theoretical generalities of credit, and in chapter four it comes to credit for housing, basic subject of this paper, in chapter five proceed to an analysis of financial indicators against which one can evaluate a company or a natural person and the last chapter deals with a case study on a loan specific person. At the end of the paper was attached appendices contain documents of private credit file of Banca Transilvania. From the theoretical work contains the most important elements of credit that should know each pawn involved in any housing loan or credit or debit or any other governor of any credit.

1. DEVELOPMENT AND ORGANIZATION BǍNCII TRANSYLVANIA

1.1. History of Transylvania Bǎncii



BT (BT) is a "banking institution headquartered in Cluj-Napoca, Romania. Bank's success story began in Cluj-Napoca in December 1993 and February 16, 1994 became operaţionalǎ by opening branches in Cluj-Napoca on the initiative of businessmen from Cluj-Napoca, capital of 2 million lei. The idea was to have a local bancǎ only cǎ's entrepreneurial founders led sǎi strengthen the position of Banca Transilvania, a stage primǎ in Cluj-Napoca and then regionally.

"Talent visionary" BT has made these banks to become a reality and an alternative time and have success than its founders expected. The Bank began operations oriented to the "selection and financing of investment projects and financial investment" and, due to market, it soon began to dedicate and retail area. BT was ranked in fourth position in December 2005 in the number of branches and agencies, the number 285. BT had 19 outlets in Cluj-Napoca, where the headquarters of the bank. According to NBR, in March 2006, BT ranks in the top nine largest Romanian bank with assets worth 1.494 million euros.

In August 2007, BT was ranked fifth place among Romanian banks based on assets (with 3.14 billion euros) and fourth position in terms of number of branches. In 2007, BT has set up its first branch outside Romania, at Nicosia in Cyprus. According to Board President (Horia Ciorcilă), BT had to enter the Moldovan market as one of the expansion for continued growth after 2008. BT exchange value of the switch in 2007 to below 2 billion, but after the drastic correction that followed the financial markets, the bank reached a market capitalization below 300 million in 2009.

BT have opened in the first half of 2009 over 500 locations 400 locations toward 2008. Active customer base grew, reaching the end of 2009, to 1.34 million active customers to over 1.2 million active customers at the end of 2008. Number of employees at 30 June 2009 was 6035, with an average age of 32.4 years. BT activity results in late 2009 led to an increase of 1.22 times BT Heritage in late 2008.

In December 2009, Bank of Cyprus has purchased a package of 9.7% of securities transactions on BT by the Bucharest Stock Exchange, totaling 58 million euros. BT is listed in the index and BET-10 at the Bucharest Stock Exchange. To see better how the new ownership of BT shows, see Figure 1.



Fig. 1.1. Transivania Bank shareholders.



BT Financial Group currently hold, in addition to BT, and companies that have invested: Insurance and Reinsurance company BT Asigurari, BT Leasing, BT Securities. In addition, BT Direct will complement these services, the Consumer Finance industry coverage. BT Financial Group will carry the BT logo in the center of power will be BT, which has the participation rate of 100% or majority positions in the subsidiaries.

According to the bank's founding documents, no shareholder may own more than 5% of the equity of the bank without the consent of shareholders in general meeting (AGM). European Bank for Reconstruction and Development (EBRD) Bank's largest shareholder owns about 15%. EBRD to Banca Transilvania became shareholders in 2001. BT is also the position of the first 40 brandurii 35 in Romania and among the world Top 400.

In these conditions of instability in international markets, regulatory authorities in Romania, especially the Government and National Bank of Romania, have adopted a set of policies for economic recovery to mitigate the economic crisis, sǎ protect national currency and to support the banking system.





1.2. Organizatoricǎ structure and bank management



1.2.1. Transylvania Bank Management



The basic organizational levels are represented by the Central Bank Transylvania and work units and an executive meeting and ordering of the subordinate. Represent the central core of the institution and assigned primarily attributes the organization, direction, coordination and supervision of bank activity with the task to ensure normal development and the new bank under EU rules. Organizational structure is given bǎncii bank.

Network intelligence unit is composed of regional branches, local branches, agencies, work and exchange offices. Operational units are organized for business lending and retail customers and corporate responsibility to conduct their banking transactions with customers directly.

The Board manages the BT, he was elected by the Assembly of Shareholders Generalǎ and aims to "maximize profits and minimize risk, subject to regulatory restrictions. By qualified executives is înfǎptuitǎ Management Committee, its powers delegated by the owner under cǎrora Board monitors and responds to how hotǎrârile Adunǎrii General Shareholders and Board of factual translate into practice. "Magic is not performance training a single person." Executive Management is exercitatǎ of the many charitable ie May of the following enumeration:

- General;

- Deputy Director General;

- CEOs members CM;

- CFO;

- Directors of directorates of the central bank;

- Regional managers, branch managers Coordinators;

- Directors of subsidiaries and operations of the branch managers and heads of operational departments (heads of agencies, service chiefs, heads of offices).

Director General, Deputy Director-General and Executive Directors Management Committee members meet quality single-driving organ. Through their leadership and guidance necesarǎ guarantees the connection between leadership and management administrativǎ executivǎ to realizǎrii strategic plans approved by the Board.

Collective management bodies are:

- Board of Directors;

- Management Committee;

- Banking and Risk Management Committee;

- Assets and Liabilities Management Committee;

- Risk Committee on Operations;

- Appropriations Committee (credit policy);

- Credit and risk committees of central bǎncii;

- Human Resources Committees;

- Internal Control Committee of Innovation;

- Audit Committee;

- Credit and Risk Committee of Branches şiAgenţii.





1.2.2. Appropriations Committee and its responsibility



Committee of Central Bank credit and risk Transylvania mainly aims to establish credit policy and analysis and loan approval has the following composition:

1. Credit and Risk Committee Composition 1

- Risk Management Coordinator Officer

- Director of Directorate of Corporate Loans

- Legal Advisor

2. Credit and Risk Committee Composition 2

- Director General;

- Deputy Director General;

- Executive Director;

- Director of Corporate Loans and Director of Retail Loan;

- Director of Risk Management;

- Legal adviser.

Credit and Risk Committee (RAC RAC 1 or 2) analyze and discuss each case documentation that proposals are promoted to corporate officer concerned individuals. Credit Committee examines employment and credit risk strategy by the Committee established credit, interest, commissions that specifically apply to BT and the incidence of credit risk arising from or in connection with the person or societatatea reprezantanţilor borrower and its legal guardians and taking decisions on loan approval or rejection of the proposal by consensus of members participating in the analysis.

To fulfill the tasks imposed, colaboreazǎ Appropriations Committee with the Committee Management Assets and Liabilities and other specialty lines of BT Central and branches.

Appropriations Committee sets strategy in transposing creditǎrii Practically mǎsurile established the Board of Directors or Management and guarantees the Committee and is responsible for the management of credit and to smooth their reimbursement.

Also individually oficerul officer, one officer of the committee pawns makers will meet some of the tasks that will be listed below:

- Open and close the accounts given for BT customers under the bank's internal rules or relevant legislation and, where appropriate, take steps to block transactions initiated whose legality is unclear or suspicious;

- Assess the eligibility of clients on the proposal to credit;

- Examine proposals on lending operations under the bank credit policy and legislation;

- Analyze transactions in terms of credit risk;

- Identify and propose appropriate financial solutions tailored to the situation and customers;

- Develop commercial relationships with bank customers, natural or legal persons;

- Maintain and develop existing customer portfolio;

- Supports the trading activity for BT customers.

Oficerul credits towards the Appropriations Committee in that it belongs to is part of the Committee also examines reports of credit risk assessment and decide when you need to prepare reports for department CARB less important but essential to maintain the balance loans to the branch or agency concerned.

2. Credit Products at Banca Transilvania

2.1. BT credit situation



The balance of credits granted by BT (TLV) in 2009 increased by 8.5% over 2008 to 12.17 billion RON thus an increase of about EUR 225 million in 2010 and has remained at 2009 levels. Of total loans, 58.44% are loans to companies and 41.56% are loans to individuals. TLV shares on the BSE situation can be seen in Figure 2.1.



Fig. 2.1. Intensity TLV shares on the BSE.

Moreover, the share of nonperforming loans was 4.8% last year in total, ie about 584 million RON. Also, the bank reserves in 2009 amounted to 533 million nonperforming loans, which have reduced much of the profits. Report loans / deposits is of 0.81 against 0.93 at the end of 2008 and 2010 level of 0.81 was retained in 2009.

BT also has significant credit resources for individuals, legal and corporate move, but current conditions are as stringent and can be difficult to achieve. In terms of bank marketing, product and service concept to meet the needs as fairly and identify market segments and Holder, also must "promote and to follow sǎ manage products to achieve strategic objectives considered basic and : return, stability, quality, customer satisfaction, competitiveness.

Offer BT has a range of products gamǎ financing for the purchase or construction of housing. BT uses a set of techniques, processes and tools specific to derulǎrii a competitive business offering attractive loan portfolio or as a credit on each design.

BT also offers customers banking and other tipurii to produce very much appreciated by customers as BT would be saving products: term deposits with banks and investment funds capitalization bonds BT, BT, BT Index, BT Max, BT Invest funds managed by BT Asset Management SAI S.A. addressing natural and legal persons, Romanian and foreign, who have a genuine interest to invest in Romanian capital market.





2.2. Loans to individuals from BT



BT offers you variatǎ offer credit to individuals. Loans are distinguished by flexibility and attractive interest rates, addressing the desires of a growing number of customers. In the credits for individuals, most banks have made in recent times, some personalization to them, immersing them in packages of products and services are subject to actions which aim marcheting acquisition of new segments of the market. BT is to offer individuals more types of mortgages and real estate also has the "First House" and a long-term "bridge loan" medium-term credit.

Necessary acts of individuals credit file specific Transylvania Bank are:

- Evidence of income: salary certificate, copy of card work or individual employment contract, other evidence of income (pensions, rents, dividends, incomes from independent activities, other permanent income);

- Precontract selling buying

- An updated statement of land;

- ID (for the spouse, the original and one copy);

- Marriage certificate (if the original and one copy);

- Credit Application (Type BT);

- Agreement to consult the Credit Bureau;

- CRB Consultation Agreement.





2.2.1. First Home Loan



This type of loan from BT is a program but is a result of the need for continuation of credit from previous years 2009 through which individuals can buy homes through credit agreements. Implementing rules of the "First Home" which is valid only in Romania. According to the report submitted to the Bucharest Stock Exchange, BT has provided about 600 loans in 2009 through the "First Home", the funding of over 27 million. 2010 runs this program as the "First Home 2 'with almost the same conditions as in earlier years

To see the difference between this type of loan volume from BT and the other processors on the Romanian market that has "First Home 2 'you prosecution Figure 2.2.





Fig. 2.2. Ceilings for bank guarantee

participating in "First house in February.



In the First House to a maximum credit that can climb to 95% of investment value, max. 57000 EUR or equivalent LEI also credit characteristics "First House" can be seen in Table 2.1.



Table 2.1

Credit characteristics "First House" from BT

Currency

Loan Period

Loan Loan Amount Interest

actual fee

file analysis fee

administration

monthly fee

reimbursement

anticipated management fees of FNGCIMM:

LEI max 30 years 233 700 14% 0.15% 0.49% 0.2% nil

EUR max 30 years 57 000 9% 0.15% 0.49% 0.2% nil



Important benefits are until you indebtedness of 60% flexibility in file analysis, very attractive cost, life insurance is not required, the assessment will be conducted by an appraiser approved free. Advance requested is 5% of the purchase price of the house, if its price is less than or equal to 60,000 Euro.

Conditions that the borrower have collateral deposit interest with BT to ensure valid throughout the period of credit in an amount equal to three interest rates, to make a solemn declaration of the beneficiary, once the true form of ownership that have not a locuinţǎ, together with their spouses or others, nor have in place another mortgage, which undertakes to fulfill the program's eligibility criteria and FNGCIMM guarantee payment in case of impossibility of considering the investor cǎ advance will lose 5% if the commitment to withdraw from the contract, also is particularly the credit and responsibility Affidavit signed before the official BT, which undertakes to fulfill the eligibility criteria of the program (for beneficiaries who purchase homes that is to be built or red).





2.2.2. Housing Loan for Individuals



Finanţǎrii real estate loan is intended purchase of land, houses or apartments and housing finance or upgrades. Maturity is 25 years.

Advantages of mortgage by BT are obvious:

- Costs are very small;

- Investigating commission is 1.5% of the loan and the annual management fee is 100 RON;

- Credit can be paid in advance, with very low fees for early repayment;

- Rates can be paid directly to the current account;

- Life is only required for loans over EUR 25.000;

- Very low rates, only 9.5% per year for EUR variable or 10.5% per year for the first three years fixed GBP.

Real estate credit for individuals can be seen in Table 2.2.

Table 2.2.

Features "Mortgage loan" for individuals from BT

Currency

Loan Period

Max loan amount

Interest credit

actual fee

award fee

Annual management fee

reimbursement

advance fee risk



LEI max 25 years 1,025,000 10.5% 1.5% 0.5% 150 2% LEI

150 000 EUR max 25 years

EUR 35.93 EUR 9.5% 1.5% 0.5% 2%



Level credit which can be contracted only if you deposit 15% of the total investment and involves submitting to determine on its underlying instruments: value of the sale contract authenticated by a notary public, that the estimate of work under legal rules (property act, building permit) can also request a credit that could reach 250000 EUR, a considerable amount just enough given that the land value will not depăşii 85% of the actual value of that land.

Guarantee is by mortgaging the property to be purchased or mortgaged to other real estate. Monthly payment (principal + interest) should not exceed 35% of the net income of the applicant or his family, calculated as the difference between total revenue and commitments, outlined in the affidavit.



2.2.3. Mortgage loans for individuals



Mortgage Loan Bank Transylvania acordǎ "under the provisions of Law no. 190/1999 on "real estate mortgage investment and reglementǎrilor applicable law." This loan is for purchase, construction or modernization of housing.

This loan has a credit period: 25 years and a maximum level of credit that you can control is 75% of the cost of the proposed investment is determined based on: valoarii of the sale contract authenticated by a notary public, that estimate works (note the ownership, construction permit, etc..) also features this credit can be seen in Table in Table 6.

Benefits are eligible for selection by BT mortgage may be:

- Costs are very small;

- Advance loan can be paid without incurring additional charges;

- Rates can be paid directly to the current account;

- Life is only required for loans over EUR 25.000.



Table 2.3.



Features "loan" from BT.

Currency

Loan Period

Max loan amount

Interest credit

Fee effective

award fee

Annual management fee

reimbursement

early

LEI max 25 years 1,025,000 10.5% 1.5% 150 2%

Max EUR 1.5 million 25 years 9.5% 1.5% 35.93 2%





2.2.4. Bridge loan



Bridging loan is a short or medium term loan that can be given to those customers who have a home they intend to sell but need time for funding supplements a housing loan or mortgage or to purchase a new property.

This credit can be used as destination:

- Temporary funding in addition to a mortgage loan to purchase property or real estate / construction of a new real estate (plus advance from its own bridge loan plus housing loan / mortgage);

- Temporary financing for the purchase of a new real estate construction imobiluluisau (plus credit advance from its own deck);

- Customers who do not have the request for the amount of money to be required for advance purchase property or build a new property, but a real estate property (apartment or house) that it intends to sell later.

Credit level you can control is more than 75% of the actual building that will be sold and mortgage characteristics for individuals can be seen in Table 2.4.





Table 2.4.



Features "bridge loan" from BT.

Purpose of loan period

Max loan amount. Interest credit

actually Fee Fee Fee refund within six months

reimbursement fee in the first 12 months

Refund in 12-18 months

acquisition of property for 12 months zero 100000 EUR 1% 6% 12% 18%

construcţide property for 18 months 100 000

Zero EUR 1% 6% 12% 18%





2.3. Corporate Loans



BT to start its allocated resources and work more on this activity during the crediting of the companies but has been perfected and other services. "Loans to customers represent the legal person for orcare The trade bank, the most important asset investment, the highest yield, bringing revenue, as the financial support of its existence."

The advantages of this type of loan is that it ensures any warranties or guarantees of the mix supported by BT: mortgages on property or land, with or without deprivation pledge on movable property or securities, assignment of receivables, fidejunsiune, letter bank guarantee or letter of guarantee issued by a bank guarantee fund approved.

Corporate loans are designed especially for small and mişlocii and analysis differs simplificatǎ loans, fast loans, letter of credit, loans for business start-ups, rapid credit EBRD sources.

Some of the components necessary loan documents for legal persons are:

- Last balance sheet (half) endorsed by the authorized bodies, together with associated balance;

- Ended last trial balance of society, but not older than 2 months;

- Credit application (BT type);

- But recently finding certificate as a maximum length of 30 days (can be obtained by BT);

- Declaration of group relations;

- Approval of contracting credit and legal persons empowered to bind the company;

- Agreement to consult the Credit Bureau;

- CRB Consultation Agreement;

- Legal acts establishing and CUI.





2.3.1. Start Up Loan



Advantage Credit Business Start-Up are newly created or operated for more than six months. Should only cover 25% of the investment and business can borrow up to 35,000 lei and the option to Start-Up Plus 85 000 RON. It also requires at least two endorsers individuals, regardless of amount, and in addition to 35,000 LEI can accept credit purchased goods but between 35000-85000 LEI is required destination mortgage on a rental space.

The condition is to have a well prepared business plan to know for sure what you intend, the business plan is also prepared to "to fix your business objectives and how and where these limits are reached. The business plan will need to present your work relationship with the company imobiliarǎ market and organizaţionalǎ strategy and investment projects approved ready to make sure you get credit cǎ Start-Up. It is better to use this credit only where secure opportunities and gain due to relatively short term of repayment is also reported here some features of this loan in the table in Table 2.5.

Table 2.5.



Features' Start-Up Loan "from BT

Type of Loan Period

Loan Period

Loan amount Interest Grace

effectively advance

Fee required

grant

Start-Up max 6 months 60 months 18% 25% 35 000 LEI 2.5%

Start-Up Plus max 6 months 60 months 85 000

LEI 18% 25% 2.5%





2.3.2. Fast Loans



Benefits of these types of loans is that it is a new product that addresses small and medium companies. Loan purpose is to allow faster access to finance as small and mişlocii, providing them the necessary capital to make investments, financing working capital or start a new business.

Conditions of access to such a loan are:

- Minimum period of operation of the company 12 months later the credit.

- According to the latest evolution of the turnover balance sheet of the Borrower is positive;

- According to the latest balance sheet of the Borrower recorded operating income;

- CIP have not been in more than three major incidents in the last six months;

- On loans contracted in the last 12 months included in CRB with debt service;

- Your company is financially stable.

Some quick loans can be seen in Table 2.6.

.

Table 2.6.



Features of "Fast Loans" from BT

Loan Type

Loan Period Loan currency loan interest charges

perceived

Investment credit without proper consideration five years 50 000 16% fee award LEI 1.5%

Monthly management fee of 0.15%

12 months zero interest credit 12000 EUR or RON equivalent of granting a fee zero%



Lender input LEI 100% 15% 12 months 35 000 1% commission drawing

One hour without any investment credit, sources EBRD EUR 50000 or equivalent 36 months LEI 16% commission to grant 1.5%

Monthly management fee of 0.15%







2.3.2.1. Investment credit without proper consideration



The advantages are that it requires advance funding is not the entire bill and no collateral is required, also enough to come up with invoice to the bank. BT will pay the bill and guarantee the property will be purchased from the credit. That credit can purchase fixed assets: machinery, equipment, automobiles or other bunurii industrial plant or production purpose.

The loan is approved the same day the application is made and granted for a period exceeding five years. Loan amount can be up to 50,000 lei. The loan is repaid in equal monthly installments, the client benefits from a grace period of three months.

Minimum conditions of this loan are:

- Minimum period of 12 months operation of the company;

- According to the latest evolution of the turnover balance sheet of the Borrower is positive;

- According to the latest balance sheet of the Borrower recorded operating income;

- Borrower has not been registered in CIP with more than three major incidents in the last six months or loans contracted in the last 12 months included in CRB with debt service;





2.3.2.2. Zero-interest loan



The advantages of this loan is that everything is approved in an hour and requires no justification for the purpose of the loan. Customer may acquire up to 35,000 LEI BT also charge no interest on this loan. Fee is 1%, and still charge a monthly fee, depending on the customer's own management, the flow of receipts and payments, ie if at the end of the amount financed is reflected in the current account, it will pay 1% fee, otherwise you pay a fee of 2%.

Minimum conditions for receiving this credit are:

- The company to have at least 24 months, record operating profit and turnover is growing according to the latest balance sheet;

- Can not claim this credit if you have arrears on other loans and have not had more than three major incidents in the last six months in the CIP;

- Delays not exceeding 15 days in the last 12 months to pay the loans, that is stanbilă Financial

- There were not changes in ownership structure or management company in the last 12 months;

- Not active attachment register or not register account budgetary debt outstanding.

It is important to know that there is an inability to pay state and BT has a less pleasant to you to determine achiţii loan, penalties could climb to 25% of the loan.





2.3.2.3. 100% input credit



The major advantage is that any small or medium sized company has an opportunity to make money, 100%, before maturity, promissory notes or checks received from their customers. The new product is designed for companies that need financial resources to carry out their normal activity and growth.

Grant amount is up to 35,000 lei, but not exceeding the average monthly turnover of the client borrower. The loan can be granted for up to 12 months.

Minimum conditions are necessary to access a loan of this type are:

- Company must have a minimum age of 24 months, record operating profit and turnover is growing according to the latest balance sheet;

-If you had arrears on other loans and have not had more than three major incidents in the last six months in the CIP;

- Delays not exceeding 15 days in the last 12 months payment loans;

- There were no changes in the structure members and major shareholders of the company or manager in the last 12 months;

- Not active attachment register current account;

- Not register budgetary debt outstanding.





2.3.2.4. Loan "An hour without any investment, the EBRD sources



This appropriation is for legal persons and the maximum value for this loan is EUR 50000 or the equivalent in lei with a maximum of 36 months, with no advance guarantee is made with good credit and the destination is acquired through the purchase of cars, new equipment and Used, renovations or extensions to buildings

The advantages are that it requires no advance and no collateral is not required .. A great advantage is that you can use either for new projects or for upgrading or expanding existing ones. Guarantees are also flexible, can be even goods purchased by credit or any mix of security accepted by BT.

Conditions for granting a loan from EBRD sources are:

- Developed by the work that is in production, services, commerce or agriculture;

- Maximum of nine employees and register the state budget arrears;

- Company must operate a minimum of 24 months, record operating profit and turnover should be increased according to the latest balance sheet;

- You can request this credit if you had arrears on other loans and have not had more than three major incidents in the last six months in the CIP;

- Delays not exceeding 15 days in the last 12 months to pay the loans;

- Not active attachment register current account;

- Not register the outstanding budgetary debts older than 90 days amounting to more than 500 lei;

- There were no changes in the structure of members of major shareholders or the company manager in the last 12 months;

- The company is financially stable;

- Not register budgetary debt outstanding.





2.4. Corporate credit



BT Services offer corporate clients is quite diverse and we mention some current ceiling products available to offer this type of customers: Account Business Loans, Business Banking, Treasury, Cardurii business Romanian Entrepreneur's Club, POS and E-Commerce, Bancaaurance, structural Fondurii.

BT class credits from corporate customers fairly: Credit for working capital, investment credit, credit for temporary needs, the property company, quickly reserve ceiling, refunds 100% Opportunity FX Energy efficient credit.

Specific corporate governance firms have a clearly defined strategic and operational planning and acts as a system by which companies are directed and controlled at optimum parameters. Corporate approach is agreeată of BT which funded thousands of projects of various corporations. The grace period may be up to 12 months and on investment loan clients we provide funds for: the acquisition and construction of buildings, provide working capital needed to start the new investment objectives, related to newly established companies or to refinance Corporate.

Plan B from BT refinancing is a way for companies or corporations that pay higher rates on bank loans contracted by other than BT, the maximum amount of funding being 1 million lei or the equivalent in euros.

Robert C. Rekkers (CEO of Banca Transilvania), says: "BT has a solution for cases in which the plan of financing a business has proved to be burdensome, especially in times of crisis. Come up with Plan B, a facility refinancing loans from other banks, through which entrepreneurs have the opportunity during the first 12 months of acquisition rates to fall by up to 50%. We, thus, entrepreneurs, financial comfort increased, enabling them to direct resources thus saved to improve productivity, investment and development. "This facility targets SMEs with a turnover of between 1.5 and 4 million, and corporations. Thus, BT offers business loans for working capital, credit lines or ANY other investment loans for income generation. Deadlines for credit granting Plan B varies depending on the type of credit to 12, 36, 90 months respectively. To access a loan to refinance the company must record a minimum of 24 months of activity and evolution of the turnover to be positive or decline up to 25%. The new loan product to companies, Plan B, is part of the Anti-Crisis Platform Transylvania Bank, launched early last year than fianciar necessary to maintain the balance of certain companies or corporations affected by the current economic crisis.

Conditions that a corporation can benefit from such a loan may also be the following:

- Signup company to work for a minimum period of two years;

- Turnover is growing or if it is a negative development, reduced turnover must not exceed 25%;

- Company to issue bank checks;

- On loans contracted to appear in CRB with debt service A or B in the last 12 months and has to date analysis;

- Not register the account active attachment;

- Not registered, on analysis, outstanding budgetary debts older than 60 days.

Besides a service offered by this product, BT can offer you a period extending the loan repayment, there is also the possibility of granting additional funding if the financial situation of your company and its financing needs have good reason in this respect.

3. General considerations concerning loans

3.1. Credit terms of content and relationship



The credit is supposed to be "old and complex phenomenon, because, he is old and older are human need and various goods and complex because, involves risks different ways of procuring, issuing, processing and recovery term integralǎ and costing generates.

According to the explanatory dictionary of Romanian language credit is a relationship (economic) cash that is established between a natural or legal person (lender), which granted a loan of money or selling goods or services on credit, and other natural or legal person ( debtor), which receives the loan or buy on credit, loan (reimbursable basis and subject to the usual payment of interest); creditor claim, monetary obligation, the duty credit; value, the amount of money that a creditor fails as refundable his debtor.

By definition of bank loan is a loan with an interest payment and price anumitǎ credit on time anumitǎ provided aceastǎ amount rambursatǎ life be refunded or above the predetermined period.

Loan means the operation which takes immediate stǎpânire resource in return for a promise of future repayment, normally accompanied by payment of interest. Relationship credit available and raising capital represent cash savings or money market financial-banking. The basic elements of loan aimed directly and indirectly made available monetary resources of those involved in understanding the credit.

The credit is the result of agreement between creditor and debtor, one gives money to collect money lent and the other based on a contract basis and guarantor or other property accepted by the creditor. Lending operations can produce relationships between individuals in the form of simple personal agreements and transactions made in the form of the loan contracts.

Creditor and the debtor is generally the bank is a company or person Physical and credit is a real debt of debtor to creditor. The loan can take many forms: debt, debt in exchange for promissory notes, credit lines, bank înprumuturi, reschedule payments. Need and the credit event in any economy is an objective, which is in turn generated by the objective nature of micro and macro economic reproduction. Mobility and distribution of such resources through loan capital is in ultimǎ court legatǎ obiectivǎ need to effectively use financial resources as the economy.





3.1.1. Credit function



Here are some of functions of credit, making credit a starting point, both financially and altǎ-kind, with the primary aim of establishing a competitive forms of financing:

- Business credibilizarea less known;

- Contributing to the increase in real capital by encouraging better use of production factors or the availability of funds when other production mişloace Injury;

- Contributing to the formation of production units forming large companies and corporations are more easily;

- Accelerate business transactions or to offset certain transaction more difficult;

- Increases the rotational speed of the currency and contribute to its sizing;

- Exercising influence on consumption.

Money familiar with the process of generalization that is, capital market development tends toward a single, currency and credit apǎrând new products tends to diversify the bank with a market financiarǎ ratǎ convenabilǎ as for credit applicants.

The credit can be grouped according to several criteria: type of property that private or public address, the duration of the: spot, forward, how to guarantee destination: consumption, production, operating, upgrading, investing.

Overall condition of the credit "financing sources direactă own or indirect if that is a bank deposit which is used together with other bank deposits to buy bonds from the firm or parts of real estate assets in the investment of capital, bank mediating this funding. "





3.1.2. Trǎsături typical credit



Credit features are common to all types of credit loans both to individuals and legal persons for loans or corporate loans. Components of credit to be listed and explained below.

1. Topics credit report, creditor and debtor shows a big difference in terms of membership in social and economic structures, the reasons of taking credit report and during his employment but is particularly apparent several groups of customers who are individuals, legal persons State corporations and even money that is sometimes needed.

2. Promise of reimbursement, an essential element of the credit report, risky, and requires, therefore, often employing a security. The relationship of credit risk are:

- Default risk is the likelihood of late payment or failure to payment rates due dificienţelor aces borrower assume responsibility.

- The risk of property occurs at the bank, or deposit holder who is unable to meet the demands of the holder of deposits, due to a failed management of loans.

- Personal security is a commitment to pay third party debt, instead of turning initially insolvent debtor. If simple guarantee, the guarantor is entitled to discuss the fulfillment of its obligation, to require enforcement of the debtor and, if there are more codebitorii which to respond only to part. If joint security guarantor can be held liable to pay, jointly, or even before the debtor, if present conditions apparently preferable solvency.

3. The term of repayment of the loan is a specific feature and. lies between 24 hours later charged between banks on world markets, and even with time over 30 years if the housing loan. For short-term loans, business loans, or consumer loans, a repayment in full is required at maturity. Medium and long term loans are repaid monthly, yearly or quarterly.

4. Interest is the price of credit and credit claims with its restutirea currency loan. Interest is an essential feature of the loan and also calculate the rate when there is a phenomenon indeispensabil credit.

5. Transaction or the actual granting of credit where credit can be agreed within a single transaction, a loan, a bond sale, hiring a warehouse. Recently opened credit system was developed in which actual borrowing occurs freely chosen by every debtor.





3.1.3. Loan classification



Loans are more felurii and requires their classification into categories by default principles advance. "We define ways, instead of forms, because their relationship stronger side than spiritual or intellectual credit side of the material, body or space."

Demarcation criteria are the main types of credit:

- Subjects relationship lending: the lender and borrower;

- Subject to credit and scope of use;

- Source of borrowed funds,

- Duration of relationship lending.

Loan classification can be made according to several criteria:

1. Classifying loans by way of reimbursement:

- Credit redeemable at which reimbursement is equal or unequal installments, comprising or not, as applicable, and interest;

- Specific Credit depreciable which full repayment is in arrears;

- Credit repayable by annuities constant;

- Credit repayable by constant rates;

- Loan fully repaid at maturity.

2. Classification of crediting period:

- Short term loans: a period not exceeding 12 months

- Medium or medium term loans: are loans whose repayment date is 3-5 years.

- Long-term loans: are loans whose repayment period exceeds five years even within 30 years at BT.

3. Classification of loans by borrower quality:

a) Loans granted to individuals:

- Cash Credit

- Housing loan

- Personal credit

- Consumer credit

b) Credit granted to legal persons:

- Operating Credit

- Cash Credit

- Pre-financing credit

- Loan of equipment

- Credit Leasing

4. Credit quality classification by creditor:

- Commercial Credit

- Bank credit

5. Classification by purpose of granting credit:

- Production credits

- Traffic officer

- Consumer credit

6. Classification of loans by way of loan guarantee distinguish:

- Real loan guarantees and capital;

- Personal loan without collateral trust.

Loans should be very diverse and the BT offering a chance to those who want something new or who have a way of funding special.

Divide the loan types listed above are included in the platform officer of BT but if housing loan offer BT has reached a specific product portfolio while maintaining all other bank in the field or even providing customers exclusixitate certain serious or good payers.





3.1.4. Credit policy



Credit policy serves to define the standard BT and organizational objectives, the business of lending, covering technical aspects of protection and credit portfolio under management BT also serves to maintain an atmosphere appropriate internal proper course of business.

To overcome the weaknesses in the business of lending banks should develop credit policies based legal to commit or prepare loan officers who understand and accept the discipline of the bank credit policy.

In development policy lending, bank senior management must go through several stages:

1. Classification based on the loan portfolio, according to credit quality (Standard, substandard, in observation, doubtful and loss) to identify market segments favorable or unfavorable for BT and their performance, BT will decide which market segments will be abandoned.

2. Is predetermined underlying causes losses or gains from BT and set the strengths and weaknesses of bank debt and credit policy successes of the period under review.

3. Assessing risks and has taken BT. It notes that only those managers who maintain a position of balance between profits and risks assumed unable to overcome difficult moments.

4. The next step would be answering a series of government economic policy questions such as:

- Which economic sectors will be supported by the government through subsidized credit;

- What influence have executive options on the exchange rate;

- What instruments of monetary policy by the central bank will be used to support the economic policy pursued by the executive.

5. BT penetration decisions on different market segments based on knowledge of existing and potential competitors and finding compromise solutions with them.

Credit policy to be well founded to meet monetary and credit developments in the state determined, but depends on the current political and economic situation is also important to rely on ANY bank people with clear political vision to lead and decide according to existing rules also where lending standards were lipsurii or escape to know how serious are the consequences of a bad credit also know how to avoid unpleasant situations in relation to people who can influence lending periculoşii otherwise, always be found an alternative that is closer to financial objectives pursued Of course the extent of the law.











3.2. Considerations on credit risks



Where there should you request a credit to the many specific risks of the banking system and even BT offers its loans when you need to establish provisions for loans to old customers at risk from non-payment of loans granted by them before the crisis. Avoiding bank fraud is by "prudential supervision of credit institutions and financial investment services companies and the oversight of payment and settlement systems for financial instruments." Longer reach and "enforcement" where appropriate according to regulations.

Bank credit risk management is much broader than a simplǎ loan transaction. "It extends the scope of the concerns include issues relating to fund three phases, perhaps the most important process of creditǎrii" namely:

- Decision-making procedure of credit;

- Process the loan repayment period;

- Credit portfolio management.

Lending is a high importantǎ activity, to which his creditor there should provide sound information and documentation to avoid and recover losses due to bad credit risk management. "The one persoanǎ cautǎ sǎ aibǎ sigurǎ situation, much will be May sǎracǎ viaţǎ." This shows that a risk still exists but a small, controllable, participants assumed the loan. Where money is one of nesiguranţǎ dozǎ but careful if we can not fail noastrǎ or against any of the others.

"For the prevention and sanctioning money spălǎrii was established National Office for Preventing and Combating Money Spălǎrii. It analyzes the information on suspicious transactions and notify the competent authorities in this regard. If we analyze the risks and find the easiest possible to determine financial and criminal people will have to cooperate, and formal institutions are concerned with such cases.

Another way to identify the risks a company may be determined by "internal audit" and a favorable score (low risk) may give the company an additional şansǎ in getting a loan.

Risk management process begins by decoding required by the various banking products and observing why investors undertaking the guarantees offered for mortgage, contractor profile, maybe even a criminal record may be requested to highlight suspicious referituare the investor profile. Then they should be compared with the bank's risk profile. If the bank's risk profile is less reluctant than the risk profiles identified, then the bank as a whole, has a value of synergy, positive for shareholders. To identify and assess the risk of a range of banking products or banking activity, managers must identify all situations that may cause significant financial loss.





03.03. And interest rate



Interest is the amount of money you must pay the borrower (debtor) lender (creditor), to use money held in the latter, until their restitution. If the loan lender is a bank or other financial institution and borrower is the client or person or entity that borrows ..

Interest plays an important role in the mechanism operating economy, perform the following functions:

- Influence the allocation of production factors;

- Way to boost both the population and firms in saving a portion of income;

- Ground to ensure recovery of costs incurred and making a profit;

- Leverage the redistribution of income.

Curentǎ Interest will be calculated from the date efectuǎrii first drawdown on the loan account balance on credit calculǎrii employee interest. The course of the loan, current interest level variables change depending on developments referinţǎ index LIBOR / EURIBOR / ROBOR.

Banks also use quotation index ROBOR EURIBOR 3M and 3M to determine benchmark interest rate on loans and its progress can be seen in Figure 3.1-figura3.2. showing a decrease due to central bank intervention and that the European Central Bank to restart lending directly interested.







Fig. 3.1. 3M Graphics ROBOR the evolution from 2009 to 2010.







Fig. 3.2. Graphic evolution EURIBOR 3M 2009.



"Interest is calculated and charged monthly at fixed maturities, with the rate of credit." Size is calculated by weight and interest rate.

The interest rate is "the price paid to have one year to 100 monetary units. It represents the ratio between the absolute magnitude of annual interest paid and loan. "Or" relative mǎrimea express themselves through interest rate "

Interest is an important contribution in the credit and credit is the price. The most important distinction of interest is fixed interest rate differential between variabilǎ.

Fixed Interest rǎmane unchanged during the credit or deposit all due up. If a fixed deposit with dobândǎ, for example, once you know the deposit amount will be accrued in interest, you'll receive at the end or its maturity.

Variable interest rate which is calculated periodically (usually at 3 months) depending on the evolution of market interest. This interest gives the creditor the opportunity to defend against loss resulting to him from setting an unchanged interest to grant credit in a period of rising interest.

Simple interest is paid on income or paying a capital service provided it is not capitalized but for a specific period. When the loan or deposit not exceeding one year, calculate the "simple interest"









where:

Ds = simple interest amount

Ko = invested capital

rd = annual simple interest rate

t = time a year for which the loan is granted

Kv = realized capital

Dobâda compusǎ represent "income paid or paying for service or a capital primitǎ in terms of its capitalization. It also involves processing equity interest in primates, thus leading to calculate interest on interest "

As details of the APR% (Interest Anualǎ Efectivǎ, next to a include interest and fees and commissions) also may be charged only consumer loans, the loan can not exceed EUR 20000 can not apply for housing loans, loans for rehabilitation of property for renovation of commercial buildings, offices. APR does not include spending incerţii borrowers or those in dispute, the fee tabulation, keeping in mind labanca Costs that, expenditure warranty insurance, or other unforeseen Costs.

Interest anualǎ efectivǎ, further denumitǎ APR represents the total cost of credit expressed as an annual percentage of the total loan amount granted including fees and charges, the APR is importnantă calculating the final cost of the loan but interest on loans not covered pemtru housing.





3.4. Fees



Commission is the second basic component of income from bank lending operations. They are quite diverse and are intended to cover bank charges arising from a series of complementary activities and much needed credit themselves.

BT class credits are encountered in these types of commissions.

1. Commission to issue a unique analysis promises guarantee is 0.15% applied to unilateral promise value issued by bank credit (loans for First Home from BT).

2. Registration fee in the Electronic Archive of Security Interest which is paid orcum orcum not specified nicăierii, is also considered an additional cost (charged to credit is first house on BT and BT to other credits).

3. Bank transfer fee from the buyer at the seller's account or cash withdrawal fee to pay the seller of the property consideration, as appropriate, to reach EUR 100-150 to 400-500 euros, depending on the bank and type of operation.

4. Commission is a commission that is investigating the real estate loan at 1.5% for both BT credit in RON / EUR / USD fee is deducted from this fee redactactare documents but only if that loan is approved.

5. Charge of drafting documents is EUR 200 fee payable to BT and if the client does not meet some reason the credit requested.

6. Fee Credit (zero if the real estate mortgage or BT) is a commission peceput one time fee charged when the credit.

7. Management fees (from BT to charge for such cards and credit fee is charged this fee) are also collected during the course of other bank loans.

8. Commissions Risk (has a value of approximately 0.5% for mortgage or car acreditelor from BT) is a perceived comosion course credit.

9. Commissions "penalty" is charged as the loan holder does not meet the initial loan with interest is charged eventula.

10. Prepayment fee is calculated on the amount repaid early with a value exceeding 1% of loan amount under the new regulation (zero for first house loan from BT)

11. Late fee is levied to pay rates where the owner fails to reimburse the loan rates for credit contracted.

12. Rescadenţare commission, loan rescheduling from BT is 1% of the credit rescadenţat, rescheduled and is required only where there is a rescheduling of the loan.

13. Modified contractual fee charged if customer demand changes to the initial credit agreement.

14. Assessment fee is a fee charged by authorized appraiser to determine the collateral (the credit is zero LEI First House from BT).

15. Monthly management fee is charged to the first disbursement of the loan and calculate the amount of credit (0.2% / month for first house loan from BT)

16. Management fee payable FNGCIMM: 0.37% per annum, calculated on the balance of funding from BT Credit First House.

The course of the loan, the bank may change the fees without the consent of Borrower, within regulations. The level of fees is displayed at the premises of the bank or in writing by letter or statement issued to customers for free, BT counters.