Instalment loans are unsecured loans, typical amounts range between EUR 500 and EUR 1,500 for a term of up to 24-48 months, depending on market. ILs generally require repayment in fixed monthly instalments, which amortise the principal, with the option to delay the monthly instalment by one month in certain markets.
Single payment loans are short-term, unsecured loans, and typical amounts range between EUR 200 and EUR 400 for a term up to 30-61 days (depending on market). SPLs are repaid in a single payment encompassing the principal repayment and loan fee, with the option to extend the repayment up to 30 days (payable up front).
Near-prime instalment loans are the latest addition to our online product portfolio, serving a different customer segment. Interest rates are typically under 20-40% APR, with an average amount between EUR 1,000 to 3,000 and term of 3 to 5 years. Most of our instalment loans in Latvia, Lithuania and Denmark are now near-prime loans. In addition, essentially all of TBI Bank’s loans are in the near-prime category.
Line of credit is an open-ended revolving credit line with typical amount of EUR 400 to EUR 500, depending on market. Customers have a minimum monthly repayment and flexible additional repayments or withdrawals. Pricing and fees charged to customers are transparent, and provided that the minimum monthly repayment fee is met, LOC has flexible payment options, and customers can change their repayment date.
We have established strategic partnerships which help us to evolve and broaden our business model to reach new customer groups with new products. For example, in Spain we have cooperated with a Spanish personal finance management platform Fintonic which provides access to near-prime customers. We continue to explore such partnerships where consumers and partners can benefit from our credit expertise.
We offer deposits and other banking products through our TBI Bank subsidiary, an EU licensed institution with operations in Bulgaria and Romania. Deposits are gathered both offline through branch network (in Bulgaria) and online through digital deposit platforms (in Romania and Germany, via Raisin).