Back to home page

BORROW   WISELY!

Don’t know how much you can afford?
Don’t know how much you will have to pay?
If you don’t understand the contract?
Not exercising your right to complain?
Letting debt control you?

How much can you afford to pay?
Do you know how much you will pay?
Do you understand the contract?
What should you do if you need to complain?
Control debt - don’t let it control you!

How much can I afford to borrow?
  • Learn to calculate accurately your monthly savings.
  • Monthly loan repayments should not exceed 70% of your monthly savings. 
    E.g. If Income = 10 000 MDL and Expenses = 8 000 MDL then Savings = 2 000 MDL. Monthlyrepayments = 1 400 MDL max
  • Take a loan in the same currency as your income. Microinvest will also assess your capacity to pay to ensure you can afford the loan.
Do I know how much I will pay?
  • Learn how to compare different offers to make an informed choice.
  • It is a legal requirement in Moldova to provide APR/EIR to help you compare the costs of loans.
  • Remember, a lower interest rate does not guarantee a cheaper loan. Ensure you include all costs and charges when calculating your monthly repayments, not just interest payments
  • Beware of aggressive lenders – special offers are seldom special. Carefully analyze the length of the loan – lower payments over a longer period may not work out cheaper.
  • Microinvest, like all MFC members, discloses all charges including arrangement fees and penalties – not all loan providers do.
Do I fully understand the contract?
  • Read the contract from beginning to end/ Your loan officer should give you enough time for this. Understand the costs, penalties, timings and mechanics of payment.
  • Ask your loan officer for help to understand every point. Always ask for clarification of professional/financial jargon used in the contracts (e.g. ask for explanation of terms like: APR, annuity method, nominal rate, prepayment commission etc.)
  • Take your time – take it home and consider – don’t be rushed into signing something you don’t understand.
What should I do if I need to complain?
  • Please tell us if you are not satisfied. Your opinion helps us provide a better service for our customers.
  • Always execute your right to complain.
  • Please contact 022 25 00 25 or
    reclamatii@microinvest.md
Control debt – don’t let it control you!
  • Too much debt can lead to problems with repayment.
  • Avoid multiple loans: with several loans you are at greater risk of over indebtedness.
  • Take loans for investments, avoid taking loans for things you desire but don’t need. Care about your credit history the records are there forever .
  • Don’t take out a loan for someone else.
  • Be careful about being a guarantor for someone else’s loan.
  • Talk to your Microinvest  loan officer if you are in trouble we are here to help.

    Call us to find out more about Microinvest or how you can take a loan in safe conditions.

    022 801 701