BNP Paribas introducing internet loan to Romania

The entire procedure requires three steps: the client fills out a form online, prints documents (copy of the identity card, a document proving domicile - such as the latest utility bill, proof of income, and account statement) and sends these to the lender’s address, following which the funds will be deposited straight into his account. Company officials believe that this new activity perfectly couples the latest technology with a trend towards innovation which has already become a tradition at Cetelem. An installment calculator application is available on the Cetelem site where the applicant can get an idea of how much he will have to pay back monthly, based on an initial selection of the type of project he wants to finance and the period of the loan.

Projects to be financed are divided into four major categories: upgrading, including construction and renovation, vehicles, including second-hand, free time and acquisition of furniture, or loan for a variety of needs. The loan minimum is RON 600, while the period for the loan is 6-120 months.

Annual interest applied to the balance is 7-12 percent, depending on the purpose of the loan/project requested. The loan requires no down payment, and applicant eligibility requires a minimum of three months at the latest job, and age between 18-70 years (before payment of the last installment).

Cetelem IFN SA was established in May 2005, when Credisson International was taken over by Cetelem, the consumer loan division of the French BNP Paribas financial group and number one on the continental European consumer loan market. By the end of 2007, it had accorded RON 816 mln (€226 mln) in loans, up some 77 percent year-on-year, as a result of the diversification of its offer and the expansion of its network, according to yesterday’s announcement.