General Characteristics:

• Variable interest rate (depending on your level of engagement with MoraBanc*), composed of the Euribor** plus the agreed margin.
  • From Euribor +5.5%
  • Up to Euribor +7.5%
• Loan amount that can be requested:
  • 100% of the lower value between 100% of the vehicle’s cost and €60,000.
• Term and amortization:***
  • Up to 6 years for vehicles. 
  • Up to 8 years for caravans and motorhomes.
• Fees associated with the loan:
  • Opening fee: 0.5%.
  • Partial cancellation fee: 0.5%.
  • Total cancellation fee: 0.5%.
  • No grace period for capital or interest.
• The financing is subject to review and approval by MoraBanc.
• The information obtained from the loan interest simulation does not constitute an offer, as the interest rates are for informational purposes only.

Required Documentation and Conditions for the Application:

• Documentation for evaluation:
  • Passport/ID.
  • Residency and work permit.
  • Direct debit of bills/CASS (Social Security).
  • Purchase estimate for the intended purpose.
  • IRPF tax declaration.
• Requirements for loan formalization:
  • Residency in the country for more than 12 months.
  • Employment for more than 6 months.
  • Salary domiciled at MoraBanc.
  • Life insurance in favor of MoraBanc.
  • Car insurance receipt.
  • Domain reservation request.
  • Invoice/proforma from the dealership.
  • Proof of payment for the purchase (via transfer from MoraBanc to the dealership).

Other Conditions

* Bonuses for engagement with MoraBanc (maximum, 2%):

•  0.50% Direct deposit of salary
• 0.25% Life insurance (Andorvida)
• 0.25% Credit or debit card (with a minimum of 3 transactions per month)
• 0.50% Andorjubilació retirement plan or MB pension fund
• 0.50% Holding a MoraBanc investment fund

If you open a new account, a minimum margin of 3 months will be granted to allow you to meet all the bonus conditions, and you will be informed of potential changes in the interest rate depending on increased or decreased engagement.

** You can choose between the 3-month, 6-month, or 1-year Euribor. The interest rate will be reviewed according to the chosen Euribor period. If the Euribor is negative, it will be applied as Euribor = 0% + margin.

*** The monthly installment cannot exceed 35% of the effort ratio, calculated as the ratio of annual installments plus rent (if no mortgage exists) to net fixed income (annual net income after IRPF and CASS deductions). The maximum term is until your retirement age. Additionally, you can choose the payment date for the installments.