This simulation illustrates the potential advantages of offering investment products at Banco Best for granting credit (assuming the use of the assets indicated as collateral for the financing to be provided).
The simulation considers a renewable term of 365 days and a fixed nominal annual rate (TAN) of 4.50% (for financing up to €75,000 inclusive), plus the respective commissions and associated taxes, as described in the price list.
For financing amounts exceeding €75,000, a variable rate applies: 3, 6, or 12-month Euribor + spread starting at 1.50%, plus the respective commissions and associated taxes, as described in the price list.

Under the terms of paragraph 3 of Instruction No. 13/2013, open-ended contracts and automatic renewal contracts are considered to be contracts of indefinite duration.
For the calculation of the Annual Percentage Rate (APR), in the case of an open-ended credit agreement, other than an overdraft facility, it is assumed that: i) the credit is granted for a period of one year from the date of initial use and that the final payment made by the consumer covers the outstanding capital, interest, and other charges, if consumer covers the outstanding principal balance, interest, and other charges, if applicable; ii) the principal is repaid by the consumer in equal monthly and successive payments, beginning one month after the date of initial use. Interest and other charges are applied in accordance with the use of credit, the repayment of capital, and the provisions of the credit agreement. For the purposes of calculating the APR, it is also assumed that each year has 12 standard months and that each month has 30 days, i.e., the 30/360 convention is assumed.

Representative example:

* APR 8.1%, nominal interest rate of 4.50% for a credit limit of €50,000 and paid in 12 renewable months (fixed-term contract, without a fixed repayment schedule), including an arrangement fee of €375.00 (plus stamp duty), as defined in the price list and associated taxation.

For specific details, assessment of your existing asset portfolio, and definition of applicable credit conditions, call +351 218 505 775 (call to the national landline network). If you are already our customer, contact your External Manager/Consultant, or visit our Investment Centers.