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Credit for refinancing credit debt

IBOX BANK, understanding the need for additional financing in order to repay obligations to other banking institutions, offers to take advantage of the opportunity to obtain a loan for the refinancing of credit debt in other banks.

Advantages of the offer from IBOX BANK:

  • additional funds for business development;
  • a flexible approach to providing;
  • an individual approach working with each borrower – the possibility of agreeing on the main parameters of the credit transaction, which differ from the standard program;
  • there are no hidden commissions.

Basic parameters/conditions of lending

The client category is legal entities and individuals – entrepreneurs.

Type of credit operation/form of lending

  • Term loan

Amount: from UAH 100,000.00. (if the loan is in foreign currency – equivalent to the amount of UAH 100,000.00)
At the same time:

  • the maximum limit – in accordance with the legal restrictions of the National Bank of Ukraine, the Declaration of susceptibility to risks of JSC IBOX BANK and the current limits established by the Bank’s Management Board.

Lending currency:

  • Hryvnia (UAH)
  • US dollar (USD)
  • Euro (EUR)

Term: up to 5 years
At the same time:

  • Credit review is carried out no later than one year from the date of loan issuance and thereafter – at least once a year, as stipulated by the Credit Agreement.

Rate: fixed

  • Hryvnia (UAH) – from 22% of the annual
  • US dollar (USD) – from 8% of the annual
  • Euro (EUR) – from 7% of the annual.

It is established by the decision of the collegial body.

Commission: one-time (for drawing up the Credit Agreement) – from 1% of the lending limit, but not lower than the minimum commission fee established by the Bank’s Tariff Committee.
In the case of changes to the crediting conditions (increasing the limit/term/etc.), an additional commission established by the Bank’s Tariff Committee is charged.
The size of the commission is established by the decision of the collegial body.

The purpose of lending: to ensure full fulfillment by the debtor of another obligation of a financial nature.

Issuance conditions: By transferring credit funds to the Client’s loan account, which is used for the refinancing operation.

Ensuring: liquid movable and/or immovable property (vehicles, equipment, goods in circulation) and/or property rights to money placed on a deposit (deposit) account at the Bank and/or property rights to goods, stocks and other property, which meets the Bank’s requirements for this type of security.
The property offered as a pledge/mortgage (except for the pledge of property rights to a cash deposit) must be appraised (its fair market value is determined) based on the report of the appraiser agreed by the Bank for cooperation in the purpose of appraising the pledged property or by a property appraiser – an employee of the Bank, who has a qualification certificate of an appraiser, who are not related to the Bank (affiliated, related, associated), in accordance with the legislation of Ukraine (excluding value added tax).
Collateral insurance in favor of the Bank is mandatory.
Insurance is carried out in an insurance company approved by the Bank, which has been verified by the Bank and meets the Bank’s requirements.

Registration of surety: in accordance with the decision of the Credit Committee/Bank Board.

Terms and source of repayment: income from project implementation, working capital of the borrower
It is possible to repay the loan debt by contractual debiting from the borrower’s current account opened at the Bank, or by the borrower himself by means of a non-cash transfer to the account specified in the loan agreement.
The credit line limit reduction schedule is set depending on the borrower’s business cycle.
Early debt repayment is possible without fees and fines.
The terms of repayment of credit debt are determined by the decision of the Credit Committee of the Bank.

Grace period for repaying the loan debt, interest, commissions: No more than 6 months for the principal amount of the debt. There are no interest and commissions.

Payment of interest: monthly in full from the 1st to the 7th (inclusive) of the current month following the one for which they are accrued, and in the month in which the credit line expires, on the last day of the credit line validity.