This simulation illustrates the potential benefits of offering investment products at Banco Best for the purpose of obtaining credit (assuming the assets indicated are used as collateral for the loan to be granted).
The simulation assumes a term of 365 days, renewable, and a fixed nominal annual rate (TAN) of 4.00% (for financing up to and including €75,000), plus the respective fees and associated taxes, as described in the price list.
For financing amounts exceeding €75,000, a variable rate applies of: 3-, 6- or 12-month Euribor + a spread starting at 1.25%, plus the respective fees and associated taxes, as described in the price list.

Pursuant to the provisions of paragraph 3 of Instruction No. 13/2013, open-ended contracts and contracts with automatic renewal are considered to be contracts of indefinite duration.
For the calculation of the Annual Percentage Rate (APR), in the case of a credit agreement of indefinite duration, other than an overdraft facility, it is assumed that: i) the credit is granted for a period of one year from the date of initial drawdown and that the final payment made by the consumer covers the outstanding principal, interest and other charges, where applicable; ii) the principal is repaid by the consumer in equal monthly instalments, commencing one month after the date of initial drawdown. Interest and other charges are applied in accordance with the drawdowns of credit, the repayment of the principal and the provisions of the credit agreement.
For the purposes of calculating the APR, it is also assumed that each year has 12 standard months and that each month has 30 days, i.e. the 30/360 convention is applied.

Representative example:

* APR 7.6%, nominal annual interest rate (TAN) of 4.00% for a credit limit of €50,000, repayable over 12 renewable months (fixed-term contract, with no fixed repayment schedule), including an arrangement fee of €375.00 (plus stamp duty), as set out in the price list and associated taxation .

Banco Best reserves the right to set different maximum coverage percentages permitted by financial assets for the purposes of collateral-secured credit, and these percentages may vary depending on the type and characteristics of the financial products and the Customer’s profile. Any financial products designated as collateral will be pledged in favour of Banco BEST, and the Customer may not dispose of or trade them during the term of the loan.

This does not exempt you from consulting the pre-contractual and contractual information required by law.

The granting of credit is subject to the necessary commercial assessment.

For specific advice, an assessment of your existing asset portfolio and details of the applicable credit terms, please contact us using the contact details available in the Best Bank app and at www.bancobest.pt