FINANCIAL LOANS

Annuity (annuity payment)
An unchanging payment, disbursed regularly throughout a defined period. A credit annuity payment consists of the payment of a principal and the payment of interests. The total annuity payment also includes regular or dissolved charges. The most common frequency of payments is once monthly.

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Financial standing (ability to repay)
The client’s ability to pay back the required credit, or his/her ability to render the liabilities in a due form and in time.

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Drawdown
Entire or partial usage of the granted credit.

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Debtor
A person, who is obliged to pay back the provided financial amount, inclusive of the interests, on behalf of the creditor.

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Period of repayment
A preliminarily agreed period within which the credit is to be redeemed.

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Direct debit
An order to execute a payment from within the client’s account; an order to this action is given to the bank, on the basis of the account owner’s consent, by the subject that is in the position of a creditor towards the account’s owner. You can use direct debit for regular payments, e.g. for the repayment of your credit.

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Land Registry
A set of data on miscellaneous real property, which contains a list of and a description of the real property, its geometric and positional determination and the evidence of proprietary and other substantial rights binding on the real property..

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Companies Register
A publicly accessible list administered by the pertinent court, into which the data required by the law are entered, concerning entrepreneurs, companies, co-operatives and other subjects and persons as determined by the law.

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p.a. (per annum)
Annually; this term is used to express the interest rate that is usually enumerated in per cents for a period of one year (e.g. 4.5 % p.a.).

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Premature redemption / premature repayment
Settlement of the due sum of the granted credit prior to the termination of the agreed repayment period.

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Income from dependent activities
Income from the employer, which is received by the persons employed under an employment relationship or on the basis of an agreement reaching beyond an employment relationship.

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Revolving credit
An automatically renewed credit. A credit, from which you are invited to draw funds up to the value of the authorised credit framework.

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Instalment
An amount containing the agreed interests, charges and possibly insurance rate too, by which the client regularly pays off his/her credit or any other monetary debt.

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Instalment period
A timeframe, within which you are required to pay the instalment according to the payment schedule. The instalments are mostly paid on a monthly basis.

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Payment schedule / calendar
A time schedule of the gradual repayment of credit or any other monetary debt with a clear identification of the exact amount and maturity date for every individual instalment.

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Maturity
Date, as of which one of the parties (debtor) is obliged to pay an agreed amount to the other party (creditor).

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Interest rate
A price of the lent or deposited money in certain currency, usually expressed in per cents per annum. The specific amount of such a price (rate) is determined according to the time period, for which the money is lent or deposited, and, in the event of deposited money, usually also in view of the amount of the deposit.

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Credit framework
An amount, up to which you can currently draw financial funds. The amount of your regular monthly instalment will derive from this credit framework.