Secured Loans

Purpose
Secured loans providing funds for any purpose.
e.g. to finance school fees, make a tax efficient donation, acquire a boat or classic car, etc.
Funding may be limited to certain employment categories.
Interest rate
Indexed rate on the Euribor 3 months
Terms
Lending rates variable capped offering protection on monthly changes:
• Increase in the monthly "capped" amount per the cost of living (INSEE index).
• Increase the limited period of 5 years
Monthly payments
• Yearly fixed rate. At the end of each year, the monthly payment will be changed based on the the cost of living (INSEE index)
• if the index declines, the monthly payment remains constant, more capital is repaid and the repayment period reduces
• If the benchmark increases, the increasing monthly payment is "capped" at the increase in the cost of living (INSEE index) The new monthly payment will be unchanged for the next 12 months.
At the end of the estimated term, the capital may not have been repaid, and will automatically be reimbursed by extending the duration of credit. This extension is capped to a maximum of an additional 5 years over the original term of the contract. Micos
Banca will bear any costs surplus to the contracted amounts.
Duration
8, 10, 13, 15 or 20 years
Loan amount
Minimum Euro 25,000, maximum 200,000 Euro.
Percentage funded: 50% of the value of the collateral.
Guarantee
First rank security on the property pledged as collateral

Borrowers benefit from a ten days cooling-off period before accepting the mortgage offer, according to Articles L.312-1 to L. 312-6 of the French Consumer Code.

This information is indicative only and does not form part of any contract.