*Financial conditions for the purchase of a home with a mortgage loan, taking into account the following representative example:
Maximum term of 20 years for deposits in euros and other currencies (1), and maximum term of 15 years for deposits in other currencies allowed (2)
1. Euro, Sterling Pound, Swedish Krona, Danish Krona, Norwegian Krona, Swiss Franc, US Dollar, Canadian Dollar.
2. Bulgarian Lev, Czech Crown, Hungarian Florin, Polish Zloty, Romanian Leu.
1) DISCOUNTED APR: if all the discount conditions are met, assuming you are eligible for the maximum discount. (i) amount €150,000; (ii) duration: 20 years; (iii) 0% commitment fee; (iv) interest rate: fixed; Discounted NIR: 3.75% (v) Discounted APR: 5.300%; (vi) monthly payment: €889.33; (vii) number of payments: 240; (viii) total amount payable (including expenses): 240,572.69 euros. (ix) total cost of the loan: 90,572.69 euros; (x) interest: 63,439.79 euros. French amortisation system1.
2) NON-DISCOUNTED APR: if the discount conditions are not met: (i) amount: €150,000; (ii) duration: 20 years; (iii) arrangement fee 0%; (iv) interest rate: fixed, 4.75% NIR; (v) 5.368% APR; (vi) monthly payment: 969.34 euros; (vii) number of payments: 240; (viii) total amount payable (including expenses): 242,034.61 euros. (ix) total cost of the loan: 92,034.61 euros; (x) interest: 82,640.51 euros. French amortisation system1.
The APR may vary depending on the term and the amount of the operation, as well as the monthly reviews of compliance with the discount conditions.
Common Terms and Conditions for the discounted APR and the non-discounted APR:
a) Other common financial conditions: compensation or commission for total or partial repayment that may not exceed the amount of the financial loss that CaixaBank may suffer, with a limit of 2% of the principal repaid during the first 10 years and 1.5% of the principal repaid until the end of the life of the loan.
b) Preparatory expenses that will be paid by CaixaBank. (i) taxes: 1,125.00 euros in documented legal acts for a mortgage liability of 150,000.00 euros and a tax rate of 0.75%; (ii) registry verification: €10.91; (iii) notary: €597.00; (iv) management: €363.00; (v) registration: €283.00.
c) Preparatory expenses to be paid by the customer. (i) valuation: €254.10 (if the transaction is formalised, CaixaBank will pay you this amount within 45 days following the date of signing).
d) Related ancillary services to be paid by the customer: you are obliged to take out a damage insurance policy regardless or whether you choose to contract the discounts. CaixaBank does not sell damage insurance; as such, below we offer you the premium resulting from calculating a home insurance policy (which is the closest to a damage insurance policy that the bank sells, with the difference that home insurance offers greater coverage). For the purpose of calculating the non-discounted APR and the discounted APR, the premium resulting from the home insurance calculation will be taken into account; additionally, in the event you contract the discounted APR, the corresponding discount will be applied. However, the customer is free to apply for a damage insurance policy, which is compulsory, with the insurance company of their choice.
Home insurance: 317.00 euros annual premium. Amount of the annual premium, assuming that it will not change for the duration of the operation. The amount is merely intended to serve as a guide and is based on home insurance products offered by CaixaBank, S.A. (e.g. based on a €150,000 mortgage and premises coverage of between €100,001 and €120,000 with a built-up area of 100m2, the total amount payable throughout the term of the operation would be €6,340.00). The amount is the result of a calculation made using an approximate range, meaning the value might change depending on the premises and the exact area of the home.
Payment account: you must maintain an account with CaixaBank throughout the loan term. The customer will pay the maintenance fees for the payment account, totalling €35/quarter. The calculation of the discounted and non-discounted APR will take into account this maintenance cost.
Terms and Conditions of discounting: these are percentage points that will be deducted from the NIR, if the following products are taken out. (i) direct deposit of salary or pensions > €600 + direct debit payments of 3 bills + purchases with cards*** marketed by CaixaBank, S.A. where the account holder is the borrower and when settlements are paid by direct debit from a demand deposit account opened in CaixaBank, S.A. by the holder of the same and which have been used to make at least three purchases during the last three months: 0.25 pts; (ii) taking out a home insurance policy 0.25 pts; (iii) taking out a life insurance policy*: 0.25 pts; (iv) financing or subscription for contracting a "SECURITAS DIRECT Home Alarm"** service or of a "SENIOR PROTECTION SERVICE"**: 0.25 pts. The aforementioned services must always be marketed by Caixabank, S.A. or by Wivai Selectplace, S.A.U. Compliance with the requirements to apply the discount terms and conditions will be reviewed on a monthly basis, and the interest rate may be adjusted upwards or downwards in accordance with CaixaBank's said monthly review of the recipients' compliance with said requirements. Purchase of the products listed above is optional. Each of the products can be taken out independently. There is no difference between the combined offer price and the offer price for separate products (prices of the products and services specified do not vary whether taken out in combination or separately).
*Life insurance (simulation of life insurance and repayment) €226.58 annual premium (assuming that the premium will not vary during the validity of the operation nor will it be updated in keeping with the principal repaid or the age of the borrowers). The premium is calculated based on the purchase of a life insurance policy for 50% of the principal and with a policyholder of 30 years of age. The cost of this service will be paid by the customer if it is applied for.
**Purchase or financing of the “SECURITAS DIRECT Home Security Alarm” service, marketed by Wivai Selectplace, S.A.U. and/or financed by CaixaBank, where "financed" shall mean through a loan at 0% APR and 0% TIN (48 monthly payments of €52.03 each, interest-free, to finance the purchase, installation and maintenance of the alarm). Total amount payable and RRP: €2,497.44 / Total price in instalments. Total credit amount €2,497.44. The total cost of credit for the consumer is €0. The maintenance service of the alarm must remain for the rest of the term of the mortgage, with a cost of 52.03 euros per month. French amortisation system1.
Subscription to the “Senior Duo Protection Service”, marketed by Wivai Selectplace, S.A.U., RRP: €1,224.00. The maintenance service must remain for the rest of the term of the mortgage, with a cost of 34.00 euros per month. For the purposes of calculating the APR, the cost of the Securitas Direct alarm service will be taken into account, as it is higher than the cost of the Senior Duo Protection service.
*** Card maintenance cost (simulation of the Visa Electron Debit card) marketed by CaixaBank: 36 euros/year. The calculation of the discounted APR will take this maintenance cost into account. The cost of this service will be paid by the customer if it is applied for.
Warnings: (i) Any breach of the loan obligations deriving from the loan can incur serious consequences for the mortgage holder, for his or her guarantor or for the owner of the mortgaged property, such as the loss of his or her property and of other goods; (ii) CaixaBank reserves the right to refuse to grant the operation or to approve it under the terms and conditions that it deems appropriate, after assessing the solvency of the applicant and according to the bank's risk criteria; (iii) the APR, pursuant to the law, covers the financial terms and conditions of the example, the expenses and the ancillary services under the assumption that the premium of the insurance policy will not vary during the term of the contract; (iv) Right to convert the currency of the loan: If the loan is denominated in a foreign currency, the customer may convert the loan denominated in a foreign currency to the currency in which the customer receives their income, or to that of the member State in which they live. The change in currency (initially taken out in euros) to an alternative currency will result in the automatic change of the fixed interest rate to a variable interest rate for the duration of the loan, under the terms set when the loan is signed.
1 French repayment system: a constant payment consisting partially of principal repayment and partially of interest. The portion of interest included in each payment will be the result of applying the effective interest rate to the outstanding principal at the start of each monthly period. The difference to the amount of the payment is the part corresponding to principal repayment.
Every month, interest must be paid on the outstanding principal. When the loan is first taken out there is a lot of principal to repay; which is why the interest payment is higher than the principal repayment at first. As we want instalments to remain constant, the interest part declines and the principal part increases as time progresses.
The instalment remains unchanged while the interest rate is not modified. For example, if you have a twenty-year loan of €100,000 at an interest rate of 3.75%, each monthly payment will be €592.89. The first payment will consist of €312.50 in interest and just €280.39 in principal repayment. In contrast, 20 years later, the final payment will be €1.85 in interest and €591.04 in principal.
Mathematical formula (French fee)
ak = Ck * [(r/m) / [1-[1+(r/m)] -n]]
"ak" being the mixed principal repayment and interest; "Ck" being the outstanding principal at the start of the period; "r" is the annual nominal interest rate, as a decimal; "m" being the number of loan settlement periods included in a year; and "n" being the number of repayment periods (principal and interest payment) pending.
NRI: 7119-2024/09542
