What is Credit Life Insurance?

Credit Life Insurance is a type of life insurance that protects you from unfortunate events after taking out a loan. If one of these events occurs, the insurance company supports your loan repayments.

Cash loan

Q: Why is Credit Life Insurance important?

If an unfortunate event occurs after taking out a loan, your obligation may pass on to your family members or guarantor, which could put them in a difficult situation. By getting insured, you protect your family or guarantor from this financial burden in case of an unfortunate event.

Terms

50 000 ₼ Maximum amount

Up to 60 mos Term

0% Fee

from 10.9% Interest rate

Apply

Actual Annual Interest Rate (AAIR)

min. 10.9% - max. 30%

Insurance for the loan application

ABB offers voluntary insurance for borrowers against risks related to death or loss of ability to work.

Credit Life Insurance is a type of life insurance that protects you in case of death or disability after taking out a loan. If one of these events occurs, the insurance company supports your loan repayments. If death or disability occurs after taking out a loan, your obligation may pass on to your family members or guarantor, which could put them in a difficult situation. By getting insured, you protect your family or guarantor from this financial burden in case of an unfortunate event. The insurance premium for this product is determined based on the loan amount, loan term, and the age of the insured individual.

Requirements

Who is eligible for the loan?

Owners of salary cards of all banks.
Employees with a minimum 6 months work experience at the current work place.
Persons aged from 20 to 70 (at the time of last repayment of the loan).

Which documents are required of the borrower for loan processing?

Identification card.

Loan repayment

You can repay your loan:

By cash: at the branch or payment terminal. It is necessary to provide your 20-digit account number which you can find in your loan agreement.
By Online repayment
In ABB mobile: Payments – Bank services – Account Refill
Regular payment: you can set up a standing instruction and the loan payments will automatically debited from your card or current account.

In case you want to repay an amount which is larger than your usual monthly payment 2 options are available:

Keep the monthly payment amount and reduce the term of the loan
Keep the period of the loan and reduce the amount of the monthly payment

Cards

Loans

Online services

Campaigns

Cashback

Deposits

Mortgage

Money transfers

Current account

Payments

Charges, Fees and Standard Terms

Cash loan

Terms

Requirements

Loan repayment