STANDARD EUROPEAN CONSUMER CREDIT INFORMATION FOR THE GRANTING OF A CONSUMER LOAN

Credit Institution (Bank)  

Snappi Bank S.A.  

G.E.MI No. 164679129000 

Address 

Krystalli 7A Ioannina,  

P.C. 45444 

Phone number  

+30 210 4838000 

Email address  

customer@snappibank.com  

Website address  

www.snappibank.com  

Loan Type: 

An interest-free consumer loan granted for personal (i.e. non-commercial, non-business and non-professional) use of the prospective buyer (the "Borrower"). 

Total loan amount: 

That is, the maximum amount that the Borrower is entitled to receive based on the Bank's criteria and procedures. 

(·€) 

Conditions governing the loan drawdown: 

That is, how and when you will receive the money 

The total amount of the loan will be disbursed to the account held by the Borrower with the Bank (or in case of holding more accounts in the one that the Borrower will indicate) upon acceptance of the relevant loan agreement.  

Duration of the loan agreement:  

4 months from the date of disbursement of the loan  

Installments/Repayment of the Loan and, if applicable, the order in which the installments will be allocated: 

Number of Installments: 4 equal monthly installments 

Each payment shall be allocated in the following order: first, to enforcement costs; second, to other legal costs; third, to any other fees and expenses due under the terms of the Loan Agreement; thereafter to any default interest and finally, to capital amount corresponding to the oldest overdue installment. Loan instalments are repaid through debiting the account. If the same account is also used for servicing other financing products or obligations of the Borrower towards the Bank, charges may also be made to this account for the repayment of such obligations in accordance with the terms of the relevant agreements. In the event of multiple due liabilities debited through the account, the relevant charges are made in chronological order based on the time which the respective debts become due and payable, unless otherwise provided in the specific terms of the respective agreement. 

The total amount to be paid: 

That is, the amount of the loan principal amount and the eventual expenses associated with the loan agreement. 

For a Loan up to the amount of €250, the total amount payable is: principal amount (e.g. €250) + administrative fee €20. 
For a Loan up to the amount of €500, the total amount payable is: principal amount (e.g. €500) + administrative fee €40. 

For a Loan up to the amount of €1,000, the total amount payable is: principal amount (e.g. €1,000) + administrative fee €60. 

 See below for indicative examples of APR. 

Required guarantees: 

This is a description of the guarantee that will be provided in connection with the loan agreement. 

There are no guarantees.  

Repayments do not entail immediate amortization of capital 

Only the timely full repayment of the monthly installment entails immediate, corresponding amortization of the capital, provided that the Loan management costs have been paid on time. 

The interest rate of the loan  

The loan is interest-free.   

Annual Percentage Rate (APR): 

This is the total cost, expressed as an annual percentage of the total loan. 

APR helps you compare different offers. 

 APR amounts to 50.56% for a Loan of €250, to 50.56% for a Loan of €500 and to 35.39% for a Loan of €1,000. 

The above percentages are listed exclusively as indicative examples of calculating the APR for which the following additional assumptions were taken into account for the calculation: a 365-day year, timely payment of installments by the Borrower, repayment of the loan within 4 months, Loan capital of €250, €500 and €1,000 respectively. 

You can refer to the end of the document for more information on how to calculate. 

The exact APR corresponding to the Loan that the Borrower will ultimately receive, will be calculated based on the final approved amount and will appear in the Bank's application during the application submission process. 

In order to for the loan to be granted or to be granted under the advertised terms and conditions, it is mandatory to obtain: 

- Insurance covering the repayment of the loan, or 

- any other supplementary service 

Insurance or any other supplementary service is not mandatory.  

It is required to maintain one or more accounts in which both payments and withdrawals shall be recorded: 

For the servicing of the loan, the maintenance of a deposit account is required, which the Borrower is obliged to keep throughout the duration of the loan and the loan installments shall be automatically collected through debits from this account (servicing account).  

Any other costs arising from the loan agreement: 

There are no fees for the granting and management of the Loan. A one-time fixed amount of 20 euros is added to the Loan amount for a loan up to €250, 40 euros for a loan up to €500 and 60 euros for a loan up to €1,000, which exclusively covers (a) the operational costs of checking and assessing the creditworthiness of the Borrower; (b) the cost of monitoring credit risk throughout the duration of the Loan. This amount is paid once upon disbursement of the Loan; and (c) the operation of secure loan administration and execution systems and the use of software and third-party services supporting these processes. 

In the event of full repayment of the Loan within the first month, the Bank returns to the Borrower 50% of the above operating costs, which corresponds to unaccrued operating costs. 

Charges in case of late payment: 

Failure to make a payment may have serious consequences for you and may make it more difficult for you to obtain credit in the future. 

Without prejudice to acceleration and termination of the Loan, in the event of any failure to make timely payment of a principal installment or part thereof, an amount of four euros (€4) shall be payable for each month of delay until full repayment of any outstanding principal instalment or part thereof, as additional operational management expenses, provided that such expenses shall not exceed in aggregate 20% of the Loan amount.  

This amount reflects in particular the maintenance of debt monitoring systems, the operation of notification systems and the use of third-party services for the management of arrears. 

In the event of termination of the Loan Agreement, the Bank shall be entitled to seek recovery of the entire debt by any lawful means and to apply the maximum statutory default interest rate to the outstanding principal balance of the Loan. 

Right of withdrawal: 

Yes. The Borrower has the right to withdraw from the loan agreement within 14 calendar days. In such case, the Borrower is required to pay the disbursed loan capital to the Bank, no later than within 30 calendar days from the date the notice of withdrawal is sent to the Bank.  

With regard to the operational expenses, the provisions applicable to early repayment, as set out below, shall apply accordingly. 

The right of withdrawal from the loan agreement is exercised by the Borrower’s notice via email to the Bank's e-mail address (customer@snappibank.com).  

Early Payment: 

 Yes. 

The credit institution is entitled to receive compensation in the event of early payment: 

No. On the contrary, in the event of early repayment of the entire amount of the Loan within one month of disbursement, an amount equal to 50% of the operating expenses paid is returned to the Borrower, provided that they have been paid on time. 

Database Search: 

The Bank shall inform the applicant immediately and free of charge of the outcome of any database search, where the loan application is rejected on the basis of such a search. 

 This does not apply where the provision of such information is prohibited by legislative acts transposing EU law or where it would be contrary to public policy or public security. 

Right to a copy of the draft loan agreement: 

Yes. The Borrower has the right to receive a free copy of the draft agreement at any time through the Snappi application. This provision shall not apply if, at the time of the application, the Bank does not wish to enter into a loan agreement with the Borrower. 

Period during which the credit institution is bound by the information provided prior to the conclusion of the agreement: 

The Bank shall be bound only on the day it provided the information. The information contained herein is valid solely as of the date of issuance stated herein.   

SET-OFF - TEKE  

All payments made by the Borrower to the Bank hereunder shall be free and clear of any deduction due to set-off or retention arising from any counterclaim of the Borrower against the Bank, and the Borrower expressly waives any right of set-off or retention against the Bank.  

In case of overdue debts, the Bank is entitled to offset, without prior notice, any counterclaims of the Borrower against the Bank, including those arising from deposit accounts balances held with the Bank. The Borrower irrevocably authorizes the Bank to debit any account held in the Borrower’s name with the Bank for the purpose of settling any debt owed by the Borrower under the loan agreement. The Bank shall also be entitled to set off against any other counterclaim of the Borrower, even if such claims arise from transfers or deposits or have not yet matured. 

Any amount that may be paid to the Borrower as compensation by the Hellenic Deposit and Investment Guarantee Fund (TEKE), in accordance with the provisions of Law 4370/2016, shall be determined after the set-off of the Borrower’s deposit accounts balances against the Bank's claims arising from the loan, provided that the debts under this agreement have become due and payable on or before the date of the credit institution's failure.  For more information: TEKE website www.teke.gr  

Law applied by the Bank in its relations with the consumer prior to the conclusion of the loan agreement 

Greek Law 

Clause on the law governing the loan agreement and the competent court 

Greek Law/ Subject to the jurisdiction and competence of the Courts of Athens (Central Seat) as well 

Language used  

The information and contractual terms are provided in Greek or English at the customer's choice. 

Complaint management procedures: 

For any complaint or dispute of the Borrower against the Bank, the latter may contact the Bank by contacting tel. +30 2104838000, on the days and hours mentioned on the Bank's website www.snappibank.gr or by sending an e-mail to complaints@snappibank.com  

Furthermore, the Borrower has at its disposal specific out-of-court dispute resolution mechanisms, such as the Hellenic Financial Ombudsman, Massalias 1 St, tel: +302103376700, website: www.hobis.gr, the Consumer Ombudsman, 144 Alexandras Avenue, 114 71, Athens, tel: 2106460862, website: www.synigoroskatanaloti.gr, as in force. More detailed information regarding the possibility of submitting complaints to alternative dispute resolution bodies is available on the Bank's website www.snappibank.com.