Loan Repayment: Fees and Overview
Fees for sending installments
bankil does not require any repayment fees!
However, when sending the installment, the sending bank or post office usually charges a fee for sending the amount. Please note that these charges are paid by the client and cannot be deducted from the loan installment. These are amounts in the order of crowns or ten crowns, exceptionally they can be higher.
How high are these fees?
- Usually, bank transfer or direct debit is the most advantageous. It depends on the client’s bank and account type. Usually this amount is up to CZK 10 for one payment, for some accounts it may be free or part of a flat fee. The advantage of direct debit and standing order is that there is no need to think about it. It is entered once at the beginning and then proceeds automatically. The standing order has a fixed amount; direct debit also enables uneven repayment of revolving loans.
- Sending money by postal order is in the current price list of the Czech Post for 33 CZK (for sent amount over 5 000 CZK the fee is 41 CZK).
- For a cash deposit at a Komerční banka branch, the fee is currently CZK 75. When depositing cash in another bank, the fee is usually even higher and may depend on how much the client sends.
The bank and the post office may be more expensive to repay the loan. Choose the cheapest way of repayment.
For details on how to repay, see Loan repayment: How much, when, how and where.
Is there a fee for an earlier refund?
Revolving loans (Cash, bankil Card) have only a specified minimum repayment. Any higher installment is accepted and immediately counted as paid without any sanctions and fees.
The early repayment fee can only be charged for one-off loans (Partner Loan, Individual Loan, Honeymoon Loan and Consolidation). It may be 0.5% or 1%.
Why does such a fee even exist?
Some clients ask why we charge an early repayment fee when they actually only refund us earlier. It should be noted that the company itself receives money under market conditions for a certain period of time at a certain rate of interest. They must then calculate that clients will meet their contractual obligations, including the repayment period and expected interest. Early repayment of the loan in some way disrupts the planned cash flow and may result in lower returns or higher costs than expected. In addition, any change in the course of a contract requires additional administration, and a fee limited by law (up to one percent) will often not even cover these costs.
Will I keep track of my loan?
Every month we send account statements, but only for revolving loans (Cash, bankil Card). The statement comes regularly by the 10th of the month. You can also receive your bank statement electronically free of charge to your inbox. You can request an electronic statement on the E-statement page. All you have to do is enter your contract number and the email address where you want the statement to be sent.
Loan for individuals from bankil
For one-off loans with a fixed repayment period (Partner Loan, Individual Loan and Consolidation), we will give you, after negotiation, a so-called repayment schedule showing the repayment amounts and the repayment period. The monthly statement is not issued.
In any case, the best and up-to-date overview of your loan can be found on the bankil Client Zone website.
For more useful information on increasing or decreasing repayments and changing repayment methods, see Loan Repayments, Repayments.