Guarantee — group guarantee

What to know before you borrow

A loan is an obligation. Not repaying it on time creates a financial risk.

If a payment is late or missed

• The debt grows: overdue principal is charged a penalty of 1% a day (for up to 30 days).
• If loan payments are not made on time, the debt is collected compulsorily through the courts or on the basis of a notary's writ of execution. Recovery is then levied on the pledged property, which may be sold in accordance with applicable law to repay the debt.
• Your property and bank accounts may be seized.
• Your credit history gets worse, making it hard to borrow from other banks and lenders too.
• Your travel abroad may be temporarily restricted.
• Guarantors and pledgers are liable for the debt too. Keep this in mind before becoming a guarantor.

Check your debt burden

Your monthly payments on all loans together should not exceed half of your income. See the first payment in the calculator and talk it over with your family before applying.