Alpha cuts interest

Alpha Bank has announced that it is to cut interest rates for personal loans by two percentage points, as well as modifying lending conditions. Thus, interest rates now stand at 12% – 13% per year for Alpha 4AII in RON, varying according to the contracted sum and the repayment period. For a loan in RON, with a five-year repayment period and a loaned amount standing at the equivalent of 5,000 euros, the annual effective rate stands at 16.79% a year. The bank also doubled its maximum credit ceiling, to 100,000 euros, and the repayment period was extended by 5 years to 20 years. The new conditions will be introduced starting February 1. Alpha Bank felt the need to adjust lending conditions for this product just a few months after its launch (last October). ZF