Auto loan
Get the financing you need and enjoy better rates on ECO cars*.
400 000 - unsecured
2 000 000 - secured
12-60 months
from 8%
Credit Calculator Annual interest rate
Effective annual interest rate
Fees
For ECO cars*
Annual interest rate
Effective annual interest rate
Fees
Calculation for MDL 300 000 MDL for a term of 60 months.
*ECO – purchase of electric, hybrid and plug-in hybrid cars.
Why Auto loan?
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Loan up to MDL 2 million.
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Lower interest rates on the purchase of ECO* cars.
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No own contribution and no collateral for loans up to MDL 400 thousand.
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Advantageous CASCO insurance charges.
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The income of persons working abroad is also accepted for the secured loans.
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Refinancing of loan on favorable terms.
Resident of the Republic of Moldova: citizen of the Republic of Moldova, foreign citizen or person without citizenship (stateless person), with permanent residence in the Republic of Moldova, who holds the appropriate identity document issued by the authorized bodies of the Republic of Moldova, valid at the time of applying for the loan and persons who work and earn income abroad (in the case of the secured loan).
Aged between 20 and 70 (the age up to which the loan can be repaid).
Employed for at least 6 months and at current job for at least 4 months.
Ownership of the real estate (residential, building or agricultural land, gardens) without prohibitions or co-debtor/surety (if the amount of the loan is more than MDL 200 000).
Loan applicants working abroad are required to have a surety /co-debtor with a residence in the Republic of Moldova or to mortgage real estate.
Electric, hybrid and plug-in hybrid cars (so-called green transport);
Vehicles that cannot be included in the category so called green;
Refinancing.
For loans up to MDL 400 000:
Valid identity card.
For persons working in institutions that submit income information to the Tax Service no supporting documents are required.
• For persons working in institutions that are not obliged to submit income information to the Tax Service: :
Salary bank statement (issued by any bank in the RM) or income confirmation certificate.
Other documents from official sources held by the public authorities, remittances that can be documented, etc.
Pensioner’s card, with the compulsory indication of the current pension, and the statement of the account into which the pension is paid.
Certificate confirming the income obtained from licensed/authorized activities – for bailiffs, lawyers, notaries, authorized interpreters and translators, including bank statement for the last 6 months.
Other documents as appropriate.
In addition, for loans over MDL 400 000:
Vehicle registration certificate.
Sale-purchase agreement (if necessary).
Title deed to the real estate (if applicable).
Valuation report on the real estate to be pledged, drawn up by an appraiser approved by the Bank (as appropriate).
Documents guaranteeing the loan.
Other documents as appropriate.
Compare the loan products
Secured: 2 000 000
Secured: 8%ECO*/ 9%
Secured: 8,30%ECO*/ 9,38
Representative example: for a loan in the amount of MDL 300 000, granted for a period of 60 months, the annual interest rate (floating) is 8%, the monthly payment – MDL 6 082,92, the EAR – 8,30%, and the total amount to be repaid – MDL 364 960,42.
Please note that by taking a loan you are responsible for repaying it. We therefore recommend that you check your ability to pay.
Manage your money carefully. Make sure you repay your loan on time.
The asset proposed as pledge will be insured in favor of the Bank against all risks of loss and accidental damage, for the entire period of the loan. In case of non-presentation of the proof of payment (partial or full – as the case may be) of the insurance premium (insurance policy of the Real Estate and the confirmatory document of payment of the insurance premium) and/or the Insurer’s denial of the validity of the insurance contract will refuse to grant credit.
FAQ:
You can get the car from car showrooms (dealers), car parks registered on the territory of the Republic of Moldova or from individuals.
The minimum own contribution in the amount of 20% / 30% is obligatory only for loans exceeding the amount of MDL 400 thousand, when the purchased car is being pledged.
The maximum age of the car must not exceed 10 years on the due date of the loan.
The customer can hold from one to several loans, depending on the monthly income earned and the proposed insurance.
The application can be submitted online, on the website or at any subdivision of the Bank.
The loan is repaid monthly through the mobile application, Web Banking, at Cash-In ATMs or at any subdivision of the Bank.
The loan is granted by transfer to the account of the Seller of the car;
When buying electric, hybrid and plug-in hybrid cars, you benefit from interest rates that are more advantageous.
The interest is charged to the balance of the loan to date and is calculated daily from the date of disbursement of the loan up to and including the date of full repayment of debt on the loan, based on the 365-day calendar year (366 days in a leap year).
The floating interest rate shall be changed (both for increase and reduction) twice a year: on January 1 and July 1 of each year, depending on the change in the Reference Index, without the need to sign an additional agreement to the Contract.
For the period from July 1 to December 31, the loan interest rate shall be calculated on the basis of the Reference Index published by the NBM for the month of May of the current year.
For the period from January 1 to June 30, on the basis of the Reference Index published by the NBM for the month of November of the previous year.
The debtor may repay the loan at any time, in advance, in whole or in part, without being charged with the early repayment fee, unless otherwise provided in the Individual Loan Agreement.
The Bank shall inform the Borrower about the change in the Reference Index by publishing it on the Bank’s website www.micb.md and at all the Bank’s offices and, where applicable, sending the information through remote servicing systems (e.g. MICB web/mobile banking), 10 days prior to the effective date of the change.
At the same time, within 10 days after the change in the loan interest rate, the Bank shall send to the Borrower (by e-mail or through the remote servicing systems or postal services) the amount of payments to be made after the entry into force of the new interest rate. If the number or frequency of payments will be changed, the respective information is sent, too.
If the date of payment according to the repayment schedule is a non-business day, the Borrower may make that payment on the immediately following business day, in which case the balance of the credit will be reduced on that date. At the same time, the Borrower may ensure the transfer of funds to the Current Account related to the credit opened with the Bank, on the business day prior to the date of payment according to the schedule, in order to reduce the credit balance exactly on the date indicated in the payment schedule and to further calculate the interest on the reduced balance.