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.