The only commissions that banks can charge

[Himon2413]

The SBS has also established that the minimum payment on loans must cover part of the debt and not just the interest, in order to avoid over-indebtedness.

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Since January 1 of this year, financial institutions can only charge 18 types of commissions: six for the use of credit cards, two for fixed-term deposits, six for savings accounts and current accounts, and four for mortgage loans.
According to the Superintendency of azerbaijan number screening Banking, Insurance and AFP ( SBS ), this system organization will help consumers know how much they will pay when signing a financial contract .
The regulator specified that these categories will not allow the creation of new charges . It also foresees that these provisions will encourage the purchase of debts, especially if some financial institutions choose to raise their costs in response to the obligation to standardize their commissions.
COMPARE COSTS On the SBS portal you will find a tool that will help you compare the prices of financial products on the market.
To access it, go to this link on the Internet , where you will find the Annual Effective Cost Rates ( TCEA ) of all local entities.
ALERT WITH PLASTIC If you have a credit card, the fees that can be charged are: for replacing the card, membership, use at ATMs, changing the payment date, issuing a receipt and duplicate of the contract and other documents. Fernando Arrunátegui, from the Association of Banks, also reminded that, starting May 1 , ATMs will begin to provide information to consumers about the prices of their operations . For example, when cash is available.