Born in 2015 as a soft opening , Banco CTT opened its first 51 branches in March 2016. Relying on the centenary brand of CTT – Correios de Portugal, the objective of this institution is to open up to about two hundred branches throughout the country in the coming years. In order to assert itself in the national market, Banco CTT has launched a series of competitive financial products, such as personal credit and car loans.
The personal credit of the bank CTT monitors the consumer both in their more casual needs and in the financial contingencies, providing financing from 2,500 euros to 50,000 euros with repayment terms that can go from 12 to 120 months.
In terms of purposes, it is possible to apply for this loan to pay for vacations, remodel and / or decorate the house, for other projects, and there is a microcredit option up to 2,400 euros.
In terms of interest rates, this solution has a TAN of 8.20% and an APR of 10.4%, with the rate (as well as the respective monthly rate) fixed throughout the contractual period, making it comfortable and predictable.
One of the biggest benefits of making the personal loan in CTT is that the process takes place very quickly: the financing takes place up to 48 hours after the contract is received.
It is also possible to include optional insurance for credit protection with unemployment and life insurance.
To the installment, there is a charge of 1.50 euros of processing fee, except in case of financing of the product “solutions up to € 2,400” (situation in which this amount does not apply).
The CTT Bank auto loan can be requested to purchase a new or used car, or a new or used motorcycle.
The financing for the acquisition of any of these vehicles can be made at 100%, from 5 thousand to 50 thousand euros and without reservation of ownership (which means that the car is always in the name of the customer from the beginning of the loan, not being precise give the vehicle as collateral).
Regarding the deadline, the same can go from 24 to 120 months. The TAN applied to the loan can be set at 5%, whereas the APR can be from 6.5%, but this is only for new vehicles.
It is also possible to combine an optional credit protection insurance with unemployment and life coverage.
As with the credit for other purposes in this financial institution, the monthly installment of the automobile credit adds 1.50 euros of processing fee for the installment.