Features
- For residents in Andorra.
- Loan amount of up to 3 times your salary with a personal guarantee for the purchase of consumer goods such as a television, a holiday, home improvements, or unforeseen expenses.
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The loan is granted within 2 days provided all the required documents are submitted.
See required documents - Repayment term of up to 24 months (provided the client’s retirement age is not exceeded).
- No arrangement or early repayment fees.
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Your salary must be paid into a MoraBanc account.
See terms and conditions - You can choose between 3-month, 6-month and 1-year Euribor. The interest rate will be revised at the chosen Euribor frequency.
- Choose the monthly repayment date that best suits you.
- This loan cannot be combined with other MoraBanc loans.
Mandatory Documentation:
- Estimate or invoice for the good or service to be financed.
Mandatory Documentation if you have not had your payroll domiciled with MoraBanc for at least the last 12 months:
- Up-to-date CASS points statement.
Optional Documentation:
- Annual income and expenditure declaration sheet.
- Proof of extraordinary income, if any.
The amount of your monthly instalments cannot exceed 35% of your percentage of effort (quotient between your annual repayments plus any rent or, if you don’t have a mortgage, plus your net fixed income** per annum).
**Your net fixed annual income is the fixed annual income net of income tax (IRFP) and CASS contributions.
Job stability: you must have held the same job for the last 12 months (if you changed jobs, this must be justifiable).
No history of overdrafts or defaults.
This product does not offer any grace period on capital repayments or interest charges.
You must take out or hold life insurance cover.
Arrangement fee: 0%
Full or partial early repayment charge: 0%
Depending on the purpose of the loan, both the loan amount and the repayment period are subject to the maximum limits established by MoraBanc.
If the Euribor rate is negative, Euribor = 0 will apply.
The loan is subject to review and approval by MoraBanc.