Representative Example

Izola Bank Variable Interest Rate Home Loans

This representative example illustrates a typical Home Loan for €270,000 repayable over a maximum term of 40 years, at a variable interest rate of 3.85% per annum, composed of a Bank's Base rate of 2.2% per annum plus a margin of 1.65% per annum.

This Home Loan will be repayable in 480 equal monthly instalments of €1,103.38, with the total amount payable including both loan capital and debit interest, being that of €529,622.40. This calculation is based on the assumption that no advance or accelerated repayments are affected and that the debit interest rate would remain the same throughout the entire 40-year duration of the Home Loan.

Meanwhile, the APRC (Annual Percentage Rate of Charge) represents the total cost of the home loan expressed as an annual percentage and this includes debit interest charged during the entire duration of the loan together with any applicable costs known to the lending Bank at the time of sanctioning of the loan.

The typical APRC for this Home Loan would be 3.93%.

The above representative example is provided for illustration purposes and Izola Bank Home Loans are subject to the Bank’s internal policies and lending criteria and reserves the right to affect any changes as deemed necessary from time-to-time.

NO INITIAL FEES

• The Bank will collect the processing fee with the issuance of the sanction letter but this would be refunded upon utilisation of the Home Loan.
• The Bank's Legal fees in connection with the contract and, where applicable, the architect's fee for the property valuation will be covered by Izola Bank.

Representative Example

Izola Bank Fixed Interest Rate Home Loans

This representative example illustrates a typical Home Loan for €315,000 repayable over a maximum term of 40 years, with an initial fixed debit interest rate of 3.85% per annum for the first three (3) years, then followed by a variable debit interest rate of 3.85% per annum, composed of a Bank's Base rate of 2.2% per annum plus a margin of 1.65% per annum, for the remaining loan duration of 37 years.

This Home Loan will be repayable as follows:

a) 36 equal monthly instalments of €1,287.27, followed by

b) 444 equal monthly instalments of €1,287.27.

The resultant total amount payable including both loan capital and debit interest would be €617,889.60. This calculation is based on the assumption that no advance or accelerated repayments are affected and that the variable debit interest rate would remain the same throughout the entire 37 years.

Meanwhile, the APRC (Annual Percentage Rate of Charge) represents the total cost of the home loan expressed as an annual percentage and this includes debit interest charged during the entire duration of the loan together with any applicable costs known to the lending Bank at the time of sanctioning of the loan.

The typical APRC for this Home Loan would be 3.93%.

The above representative example is provided for illustration purposes and Izola Bank Home Loans are subject to the Bank’s internal policies and lending criteria and reserves the right to affect any changes as deemed necessary from time-to-time.

NO INITIAL FEES

• The Bank will collect the processing fee with the issuance of the sanction letter but this would be refunded upon utilisation of the Home Loan.
• The Bank's Legal fees in connection with the contract and, where applicable, the architect's fee for the property valuation will be covered by Izola Bank.