Explanation of the bonus calculation
Within our service, we can provide our clients with a bonus. Its amount indicates how much money we have already paid to our clients. In particular, we cover the fees associated with arranging a mortgage or the interest rate compensation (see below).
|Total loan amount||CZK 2,000,000|
|Date of single drawdown of the loan (full amount)||3 months after signing a contract|
|Loan term from the loan drawdown date||30 years|
|Fixed lending interest rate||2.09% p.a. with 5-year fixation|
|Discounted interest rate||1.99% p.a. with 5-year fixation|
|Annual percentage rate of charge (APRC)||2.38% p.a.|
|Total amount paid by the client||CZK 2,641,257.46|
|Monthly payment||CZK 8,760.99|
|Bonus for the client||CZK 9,571.00|
|Number of monthly payments||360|
|Fee for loan drawdown||CZK 500.00|
|Application for registration of lien||CZK 2,000.00|
|Application for deletion of lien||CZK 2,000.00|
|Verification of lien contract signature||CZK 30.00 per each signature|
|Confirmation of paid interest||CZK 50.00 per year|
The bonus is calculated as a difference between the fixed lending interest rate and the discounted interest rate for the duration of the fixation period. The total interest paid by the client at an interest rate of 2.09% and a 5-year-long fixation period is CZK 196,245. For the discounted interest rate of 1.99%, the total interest is CZK 186,674, making the difference CZK 9,571 for this particular case. The bonus of CZK 9,571 is sent to the client’s bank account by the 20th of the month following the finalization of the mortgage process. The mortgage contract always contains the fixed lending interest rate.
The loan must be secured by the property lien. The above example refers to a property lien for a property with a value of at least CZK 2,352,941. The obligation to insure the collateral (does not apply to the collateral – a parcel of land without a building): the insurance must be arranged before drawing down the mortgage and must be valid for the entire term of the loan.
This is not a contract proposal. All the calculations and data, including the details about the interest rate or the monthly payment, are informative only. The aforementioned example was created for parameters corresponding to the parameters of an average loan currently provided by the banks. The final parameters can differ depending on your creditworthiness and the results of your credit assessment, and will be set out in the pre-contractual information and the loan agreement.