Frequently Asked Questions
These are our frequently asked questions.
What is TAN (Nominal Rate)?
The TAN (Nominal Rate) is the interest rate expressed as a fixed or variable percentage, applied to the used Credit amount on an anual basis.
What is TAEG? And MTIC?
TAEG (Annual Percentage Rate) is the total cost of the Loan, paid by the consumer, expressed as an annual percentage of the granted loan's amount. When calculating the TAEG, expenses of collection of refunds and interest payment are included,as well as the remaing charges to bear (taxes, fees and mandatory insurances).
TAEG can be used to compare Loan proposals. For Loan proposals with the same amount, term, and refund modality, the proposal with the lowest TAEG is the cheapest for the Client. It includes interest + fees + expense+ taxes + insurances.
MTIC (total amount charged to the consumer) its the sum of the total amount of the Loan with the associated costs (interest, fees, taxes and other charges).
Take note that for Loans the tax is variable, MTIC is merely indicative as the interes rate of these Loans can vary with time, according to the fluctuation of the indexed used. (EURIBOR).
What is the main advantage of requesting a Car and Motorcycle Loan?
You can request the Loan, anywhere at any time, through our App (up to €15.000). For amounts from €15.001 to €30.000, the request will have to be done at an ActivoBank Branch or through our Support Line.
What are the deadlines for Car and Motorcycle Loans?
The deadlines vary:
Is this financing subject to the payment of Stamp Duty?
Yes, the Stamp Duty is applied to the Loan opening, over the interest and associated fees (for example, the Loan Opening Fee).
Is it possible to make an early, partial or total repayment of my Loan?
Yes, you can do it covered by the Loan’s contract, with 30 days' notice. Early repayment is subject to a fee calculated as follows: early repayment fee of 0.5% of the amount of the capital repaid early, if the period between the time of early repayment and the date stipulated for the end of this contract is greater than one year. If this period is less than or equal to one year, the early repayment fee is 0.25% of the amount of the capital repaid early.