Interest-free consumer loan

Up to BGN 6 900 in partnership with the Bulgarian Development Bank

Interest-free consumer loans up to BGN 6 900 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 6 900; 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 6 900.
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 31.07.2021

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 a total of at least 3 (three) months of employment between 01.01.2020 incl. and the date of your loan application;
As of the date of applying for a loan, the social security contributions due for the period of employment under the previous item, after 01.01.2020 incl., have been declared and / or paid for you;
You have returned / continued to work after the termination of unpaid leave with the same or another employer (immediately or with some time lag).

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, or for any quarter of 2020 or 2021, but during the term of the Program, compared to your income in the quarter of 2019 or 2020;
You have paid social security contributions;
You will resume the exercise of your activity after the reason for the interruption of the activity disappears;

Necessary documents

For individuals under an employment contract:

1. Certified copy of an identity document – ID card or passport;

2. Documents from which the existence of the conditions for granting a loan under the Program is established - a copy of an employment contract and a document for the unpaid leave - an official note or order;

3.    Declaration of affiliation – according to the Bank’s form;
4.    Declaration of consent for data processing – according to the Bank’s form;
5.    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 certfying you have suffered at least a 20% drop in your income for the first quarter of 2020, or for any quarter of 2020 or 2021, but during the term of the Program, compared to your income in the quarter of 2019 or 2020;