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Interest-free consumer loan

up to BGN 4 500 in partnership with the Bulgarian Development Bank

Interest-free consumer loans up to BGN 4 500 under the Program for guaranteeing interest-free loans in protection of people deprived of the opportunity to work due to the COVID-19 pandemic.
The program aims to help those affected by the economic consequences of the COVID-19 pandemic who are parties to an employment contract or are self-employed and who meet certain conditions.

Parameters

  • Interest rate – 0%;
  • No fees and commissions;
  • No collateral;
  • Loan term – up to 5 years;
  • Amount – up to BGN 4 500; If you have initially been granted a smaller loan amount, you can apply for an additional amount until the total loan amount under the Program reaches BGN 4 500.
  • Purpose – for current needs. As a borrower, you can use the provided funds only for your personal needs as an individual, but not for business purposes or to repay current loan debt;
  • Grace period – option to choose a grace period from a minimum of 6 months to a maximum of 24 months, after the expiration of which the loan repayment begins;
  • Repayment – option to repay in one installment at the end of the term of the loan or in equal monthly installments;
  • Use of the Allianz Start package for daily banking;
  • Utilization – the amount of the loans is transferred to the borrower’s current account in Allianz Bank Bulgaria.
The loan can be utilized at once or in tranches.
Deadline for utilization 31.01.2021

Utilization of the loans is carried out after confirmation by the Bulgarian Development Bank.

Conditions

You can take advantage of the program if you meet the following conditions:

If you are an individual under an employment contract and:

  • You have stopped working for your employer and you are on unpaid leave due to the Pandemic, respectively the State of Emergency;
  • You have been a party to an employment relationship for the last 6 months before going on unpaid leave, and it is permissible that this has not been with one employer;
  • You do not receive remuneration under other employment relationships;
  • You have worked at least five working days in March, if this is the month in which you have been sent on unpaid leave;
  • You will return to the same job after the end of unpaid leave;
  • You do not use or have requested the use of a loan from another bank under the Program.

If you are a self-employed person and:

  • As a consequence of the Pandemic or the State of Emergency, you have discontinued your self-employed activity and / or suffer at least a 20% drop in your income for the first quarter of 2020, compared to your income in the first quarter of 2019;
  • You do not receive remuneration under other relationships;
  • You have paid social security contributions;
  • You will resume the exercise of your activity after the reason for the interruption of the activity disappears;
  • You do not use or have requested the use of a loan from another bank under the Program.

Necessary documents

For individuals under an employment contract:

1.    Certified copy of an identity document – ID card or passport;
2.    Declaration of affiliation – according to the Bank’s form;
3.    Declaration of consent for data processing – according to the Bank’s form;
4.    A document from the employer certifying that you are on unpaid leave and will be reinstated (if possible).

For self-employed persons:

1.    Valid identity document – ID card or passport;
2.    Declaration of affiliation – according to the Bank’s form;
3.    Declaration of consent for data processing – according to the Bank’s form;
4.    Document of registration as a self-insured person;
5.    Declaration for interrupted activity of the self-insured persons submitted to the NRA (according to the NRA’s form).
and / or
6.    Documents that can certify at least a 20% drop in the income of the self-insured person in the first quarter of 2020 compared to the first quarter of 2019.

More information

Deadlines:

  • You can apply for a loan under the Program until 31.12.2020 (incl.)
  • Loan agreement under the Program can be concluded until 11.01.2021 г. (incl.)

How to apply?

  • You are welcome to the Allianz office that is most convenient for you. See a map  of the offices and current working hours.

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