Become
a wise debtor!

in 5 easy steps

Step 1
Check the maximum amount you can borrow

  • Learn how to calculate your monthly savings accurately.
  • Monthly loan repayments should not exceed 70% of your monthly savings.

    E.g. If Income = 1000 lei and Expenses = 800 lei, then Savings = 200 lei.
                Monthly repayments = 140 max!

  • Take out a loan in the same currency as your income.
  • PRIMA FINANȚARE will also assess your ability to pay to make sure you can repay your loan.

Step 2
Calculate how much you'll pay

  • Remember - low interest rates don't guarantee cheaper credit.
  • Make sure you take all costs and fees into account when calculating monthly repayments, not just interest payments: calculates the fees for analysing, granting, commissions, insurance and the total amount paid in all instalments
  • Remember - it is a legal requirement to provide the APR indicator to help you compare the cost of borrowing.
  • Beware of aggressive lenders - special offers are rarely special!
  • Analyse the length of the loan carefully - lower payments over a longer period may not be cheaper.
  • PRIMA FINANȚARE, in line with all MFC members, discloses all fees, including analysis fees and
    credit management and penalties - not all creditors do!

Step 3
Make sure you fully understand the contract

  • Read the contract carefully from start to finish! The Lending Expert will give you plenty of time to do this – understand the costs, penalties, monthly payment schedule.
  • Ask the Credit Expert for help to understand each point in the credit agreement. Always ask for clarification on professional financial terms used in contracts (for example, ask for explanations of terms such as APR, annuity method, nominal rate, interest, prepayment fees, etc.)
  • Allow enough time for clarification - don't rush to sign something you don't understand!

Step 4
Control the debt - don't let it control you!

  • Too much debt can lead to repayment problems.
  • Avoid multiple loans: with more credit, you may expose yourself to a higher risk of over-indebtedness.
  • Apply for investment loans! Try to avoid loans for things you want but don't need.
    Avoid loans for holidays or the latest TV.
  • It's important to look after your credit history, the records stay there for ever.
  • Don't take out a loan for someone else!
  • Speak to your PRIMA FINANȚARE Credit Expert if you're experiencing difficulties - we're here to help!

Step 5
Check what you should do if you're not satisfied

  • Please let us leave a review whether or not you are satisfied with PRIMA FINANȚARE services. 
    YOUR opinion helps us provide a better service to our customers!
  • You have the right to complain if you are not satisfied with our services.
    Contact us on +40 332 407 542 or [email protected]

The Lend Wisely campaign is part of an international educational campaign run by the Microfinance Centre and its partners.

This initiative has received financial support from the European Union Programme for Employment and Social Innovation "EaSI" (2022-2025). For more information, please consult: http://ec.europa.eu/social/easi. The contents of this publication represent the views only of the author and are the sole responsibility of the author; they cannot be taken to reflect the views of the European Commission. The European Commission is not responsible for any use that may be made of the information contained therein.