Make your wish list come true and finally do something nice for yourselves! You can use our favourable PRESTO Loan to improve your housing, without having to compromise.
Why take out a PRESTO Loan?
Loan Parameters
You have the right to early repayment of the consumer loan at any time, either in whole or in part. You are obliged to inform the Bank in writing of your intention to repay the loan in whole or in part not later than 5 days prior to the date of the Early Payment.
The loan may be prepaid with absolutely no penalty in the following cases:
In other events, the Bank may request the reimbursement of the costs reasonably incurred in connection with such prepayment.
The costs reasonably incurred by the Bank must not exceed the interest that the consumer would pay during the period from prepayment until expiry of the fixed interest rate period.
In the event of prepayment associated with the sale of the property the acquisition, construction, or retention of rights of which was funded by such loan and where the duration of the Loan Agreement is more than 24 months, the costs reasonably incurred by the Bank must not exceed 1% of the prepaid amount of the loan and, in any event, no more than CZK 50,000.
Should you fail to repay any debt arising from a contract by its due date, you are obliged to pay the Bank default interest on such overdue debt in an amount as per Government Decree No. 351/2013 as amended throughout the period of default, besides the interest agreed upon in the contract currently at 8,25 % p.a. (a year). This default interest rate is considered to be the maximum interest rate possible.
You are aware of the fact that failure to pay a due debt under contract is a serious violation of the contract and, in such a case, the Bank is entitled to withdraw from the contract ex nunc and to determine the entire loan immediately due and payable or, as the case may be, without withdrawing from the loan contract, to declare all or any outstanding sums immediately due and payable.Before declaring the loan due, the Bank shall call upon the consumer to pay the outstanding sum and grant a 30-day deadline to the consumer to comply.
The costs associated with the recovery of the outstanding sum are specified in the Price List.
Do you know how you would repay your PRESTO Loan if you fall ill or lose your job? Insurance against the inability to pay offers a solution. The insurance policy applies to death, 3rd degree disability, incapacity for work, involuntary loss of job or hospitalisation.
What do you get?
Product parameters
Who is the product intended for?
For all applicants and co-applicants for the PRESTO Loan who comply with the following conditions:
In the case of risk of involuntary loss of job, clients must comply with the following extra conditions:
What are the benefits for clients?
What documents need to be presented?
Who is the product intended for?
If you are over 18, residing and receiving income in the CR, not in a probationary or notice period, with telephone contact details, then nothing stands in your way to apply for a loan.
Where can you get the product?
What are the steps when taking out a loan?
Step 1 Visit our branch and present the following documents:
Step 2 We will prepare the PRESTO Loan Application with you and, with your consent, we will consult the credit registers.
Step 3 If your application is approved, we will sign the PRESTO Loan Contract and you can spend the money to upgrade your housing
What fees will I pay?
So as to avoid increasing the price of the loan and translating it into interest rates, we have kept only the initial fee of CZK 1,500 for arranging the loan.
Do I need a co-applicant?
We may require a co-applicant for loans exceeding CZK 350,000. Note: In the event of joint property of spouses, a co-applicant is always required for amounts exceeding CZK 350,000.
Why should I take out insurance against the inability to pay?
Insurance protects you in the event of unexpected life situations, such as long-term hospitalisation, loss of job, etc.
How can I ask for postponement of instalment payment?
All you have to do is visit the bank and sign an application for postponement of instalment payment. You must do so not later than as of the last calendar day of the month in order to postpone the instalment payment the following month. The instalment payment is postponed including interest. You can ask for postponement of the instalment payment not earlier than after 10 months of due repayment. You can postpone your instalment payment up to 5 times during the repayment period entirely free of charge.
Representative example for a PRESTO Loan:
I wish to borrow CZK 200,000. The total loan amount of CZK 201,500 includes the fee CZK 1,500. Loan period is 84 months. Interest rate 4.9% p. a. Monthly instalment CZK 2,839. Annual percentage rate of charge (APR) 5.25% p. a. Total amount due CZK 238,909.
