How does CREDiPORT work?
CREDiPORT provides online access to a wide range of financial services related to lending, insurance, and pension provision. We only work with established and licensed companies that are leaders in their field.
Loans
Insurance
Provision of Pension Services
CREDiPORT works with established experts in the field of pension provision. Through the platform, you can connect and receive professional consultation when choosing a pension fund tailored to your individual characteristics.
Our partners will calculate and discuss with you various options for transferring and distributing the accumulated pension funds so that you can make the best and most informed choice for securing a peaceful retirement.
How much does it cost?Loans
Our service is completely free. By filling out an application through the platform, CREDiPORT provides you with simultaneous access to multiple lending institutions.
Insurance
CREDiPORT does not charge or collect fees for insurance intermediation services. We offer you a completely free professional individual consultation when choosing an insurance product.
Provision of Pension Services
Through the platform, you can completely change your pension fund online. For this purpose, we provide you with a free qualified electronic signature, with which you can sign various documents. The service is completely free.The CREDiPORT team recognizes the significant importance of decisions regarding pension provision. Therefore, we have provided the opportunity for additional consultations with experts in this field to assist in making decisions on how and where it is most advantageous to transfer the funds from your individual pension account. A fee is charged for this service, payable to the respective pension provision expert. Please note that despite the nominal fee, such a consultation could potentially secure you a much higher pension.
Why choose us?Save Time
Reach multiple lenders or insurers with a single application, avoiding office visits.
Save Money
Compare all offers in one place and receive personalized financial advice.
Reduce Risk
Work only with licensed, regulated banks and insurers.
How does CREDiPORT make money?Loans
CREDiPORT receives commissions solely from the credit institutions it works with for its operations. Clients of CREDiPORT do NOT pay a fee for the service. CREDiPORT is one of the channels for implementing the products of lending companies, serving as their online point of contact with consumers.
Insurance
As an insurance broker, CREDiPORT receives commissions from the insurance companies it works with. Clients of CREDiPORT do NOT pay fees for the service. In addition, in the event of an insurance event, we remain entirely at your disposal for assistance.
Pension Provision
CREDiPORT receives commission from the selected pension insurance fund after transferring individual batches to it.
What is a digital signature?The qualified electronic signature is a means of verifying the authorship of documents. It is legally recognized as equivalent to a handwritten signature under EU Regulation and is issued according to the highest levels of security. Any document signed with it has the same strength and validity as a paper signature.
The qualified electronic signature provides indisputable assurance of your identity. It makes forgery of documents impossible, maintains the confidentiality of communication, and transforms the electronic document into an official one. You can use it for personal identification with internet applications, conducting financial transactions, secure and encrypted communication, signing electronic documents, and performing authentication activities.
What is a certificate for electronic signature?Your electronic signature is issued based on a Certificate for an Electronic Signature. If we draw an analogy with paper documents, the certificate is like the pen you use to sign, and the signature is what remains on the document.
Is the electronic signature legal?The qualified electronic signature has the same legal value as a handwritten signature placed on paper. This stems from Article 25, paragraph 2 of Regulation (EU) 910/2014, and the rule applies throughout Europe.
To issue certificates for qualified electronic signatures, Eurotrust has obtained a special status as a qualified trust service provider. It is certified by a French independent auditing body (LSTI) and is listed in the register of the European Commission.
Is the signature secure?Eurotrust's electronic signature offers a much higher level of security than standard electronic signatures created on smart cards.
The electronic signature is created using cryptographic algorithms for encryption and decryption using cryptographic keys. In smart card electronic signatures, the private key for creating the signature is stored on an additional device, which requires knowledge, driver installation, and dependence on a specific computer.
The technology developed by Eurotrust allows the private key to be stored in a remote cloud-based hardware security module (HSM) with the highest level of protection, rather than on an additional device, as with standard electronic signatures, or even in the phone itself. Therefore, it does not matter if you lose your phone or how many devices you use it on. Your mobile phone is only the connection to your "safe," where your secret key is stored.
To create the signature, something you have (your phone and private key stored in the "safe") and something you know (your PIN code) are used. Each time you enter the application and sign a document, you are required to enter a PIN code or other biometrics available on your phone (fingerprint, facial recognition, iris biometrics, voiceprint, etc.), and you receive a notification for each signature performed.
As Eurotrust's qualified electronic signature is created remotely, in a system to which neither the user nor the electronic service provider has access, and because two channels are used - one for creating the document and one for signing it - the system is practically immune to hacker attacks.
How much will it cost me to obtain a qualified electronic signature from Eurotrust?Obtaining a qualified electronic signature certificate is completely free, as well as signing documents related to using services on the CREDIPORT platform. It can also be used outside of it for signing any electronic documents.
How long is the qualified electronic signature certificate valid for?The qualified electronic signature certificate issued by Eurotrust is valid for a period of 2 years. After that, you can request issuance of a new qualified certificate through the Eurotrust mobile application free of charge.
What kind of loan can I apply for?CREDiPORT's service is available for both businesses and individuals.
Through CREDiPORT, you can apply for a quick or personal loan from a bank, request a mortgage loan for the purchase of a ready-made property, a property under construction, or refinance an existing personal and/or mortgage loan.
CREDiPORT also intermediates when applying for a business loan from a company for working capital or investment needs.
Who can apply for a loan?CREDiPORT's service is available for both businesses and individuals.
CREDiPORT intermediates when applying for a business loan and personal or mortgage loan for individuals.
To apply for a loan as an individual, you must be at least 18 years old, have Bulgarian citizenship with permanent residency in Bulgaria, and a valid ID card.
What amount can I apply for?Through CREDiPORT, you can apply for a quick or personal loan from a bank ranging from 50 to 40,000 EUR.
In CREDiPORT, you can also apply for a mortgage loan from a bank for the amount you need to purchase a selected property. Typically, the maximum financing for property purchase is up to 85% of the property value.
In CREDiPORT, you can request a quick mortgage loan secured by collateral regardless of your credit history or monthly income. The amount disbursed depends entirely on the assessment of the proposed collateral.
It is possible that the offers you receive may be for a smaller amount than the one you applied for. This is because financial institutions will verify the information provided by you to understand your financial status and assess your future ability to repay the loan. The loan amount largely depends on the value of the property you want to purchase, which will be used as collateral for the loan.
Can I submit multiple loan applications?Yes, it's possible to submit multiple loan applications.
It's important to try to assess your real chances of repaying a potential loan to increase your chances of getting approved.
Our advice is not to submit different applications with the same parameters, but to consult with us or our partners if you need to change any of the parameters on an already submitted application.
What is the repayment term for the loan?You choose the most convenient loan term for you. Please note that the offered terms may differ from the one you have chosen. This is determined by the risk assessment policies of individual credit institutions and their internal rules.
We advise you to carefully consider all offers before making a decision. It's important to know that the longer a loan term is, the higher the costs associated with it.
How is the loan interest rate determined?The interest rate is not determined by CREDiPORT but by the banks and credit institutions we work with.
Each credit institution processes your loan application individually, and the terms they offer depend on your credit score, as assessed by them, and their internal risk assessment rules, which determine your ability to repay the loan.
The terms offered by different banks and lending institutions vary depending on the type of clients they are seeking, so it's important to compare as many offers as possible and find the best loan terms.
Can I apply for a loan if I already have an active one?You can always apply for a loan when you need one. With it, you can consolidate all your obligations to reduce your overall expenses. You can also apply for an additional loan without refinancing, and the bank or credit institution will assess whether it could provide you with financing based on your individual creditworthiness.
Can I make changes to my application after it's been submitted?No, because the process of submitting a loan application is fully automated. Once you've completed filling out the application, it's immediately sent to our partners. If you want to change any of the loan parameters, you can consult with our staff or partners through your profile at my.crediport.bg.
How can I make payments on the loan?Detailed information on how to make payments on the loan can be found in the loan agreement.
Typically, monthly installments are paid through a bank account opened for servicing your loan, with the account being held by the lending institution. If you have additional questions, you can always contact your lending institution for information and assistance.
What documents do I need to apply for a mortgage?You can request it at any bank branch or we can provide it to you in your profile in the client portal.
How long does it take to issue?It is provided immediately upon your desire to apply for the loan.
Useful information:The request for a housing loan is filled out on the spot or at a convenient place and time for you. When submitted on paper in a bank branch, a Declaration for Personal Data Processing is filled out and a copy of an identity document is made.
The employment certificate for income verification is issued by the employer.
How long does it take to issue?The issuance period depends on your employer.
Useful information:The amount of income you receive is an important condition in assessing your creditworthiness.
A common practice when applying for a mortgage is to provide a copy of the employment contract to prove income.
Other popular documents to prove income are the civil contract or management contract.
When assessing your creditworthiness, you may be required to provide an employment certificate confirming the amount of your remuneration for the last 6 months or an extract from your bank account.
Municipal administration/Civil Registration or electronically through the Secure Electronic Delivery System - https://edelivery.egov.bg
How long does it take to issue?From 1 to 7 working days.
Useful information:The certificate can be requested at any municipality, regardless of your address registration.
The Request should explicitly state that a Certificate of Marital Status is required, spouse, and children.
One document issued to one of the spouses who are applying for credit, showing the marital status of the owner (co-owners) as of the date of acquisition of the property, is sufficient.
Municipal administration at the location of the property or electronically through the Secure Electronic Delivery System - https://edelivery.egov.bg
How long does it take to issue?From 3 to 14 working days.
Against which documents?Original and copy of notarized deed.
Useful information:It is obtained by the owner of the property from the respective tax office at the location of the property.
In the property tax assessment, the address of the property must be identical to the address in the notarized deed; otherwise, a certificate of address identity is issued by the respective district.
All property co-owners must be listed in the property tax assessment. There must be no outstanding obligations for the property (tax and fee must be paid).
Registry Agency
How long does it take to issue?From 1 to 7 working days.
Against which documents?Copy of the notarial deed and Scheme/diagram from the Cadastre Office.
Useful information:The request for issuing the Certificate must specify that information for at least the last 10 years is to be provided.
Cadastre Agency, also electronically through the menu: Cadastre Services Application > Submit Application.
How long does it take to issue?Up to 10 working days.
Against which documents?Original and copy of notarial deed.
Useful information:When the object of sale is land, a sketch of the property is necessary.
When there is a cadastral map for the area where the property is located, both documents are provided by the Cadastre Agency.
In case there is no cadastral map for the area where the property is located, a document certifying the presence or absence of such is issued, and the sketch is issued by the technical service of the district at the location of the property.
National Revenue Agency (NRA), can also be requested electronically.
How long does it take to issue?From 2 to 7 working days.
Useful information:It is applied for each of the buyers and is issued by the revenue authorities to the NRA.
What insurance is offered?Through the CREDiPORT platform, you can choose and purchase insurance from the full range of insurance products available on the Bulgarian market. We can assist and advise you in selecting automobile, property, health, liability, equipment or cargo insurance, as well as life insurance or other specific insurances, according to your individual needs and requirements.
Are all insurances entirely online?Some insurance products, such as property insurance, travel insurance abroad, and mountain insurance, can be arranged entirely online. For these, the entire process from filling out the questionnaire to receiving the policy is entirely digital.For other insurances, such as liability insurance, due to the specificity of the product and the applicable legislation, it is necessary to fill out and sign specific questionnaires or physically sign the insurance policy. In these cases, the process of arranging insurance is not entirely online, but nevertheless, we have endeavored to automate it as much as possible.
How do I arrange an insurance?Select the insurance and answer the questions if such an option is available. If a questionnaire is not accessible, you can submit an inquiry, and we will contact you to offer options and clarify details regarding the insurance itself, possible payment options, and the delivery method.
How can I pay for the insurance?You can choose the most convenient payment method for you for the insurance premium – through a virtual POS terminal, by bank transfer, or cash on delivery upon receipt of the policy. When finalizing the details related to the policy, we will also specify the payment method for the insurance premium according to your needs.
Can I pay for the insurance in installments?For some insurances (such as liability and property insurance), it is possible to pay in 1, 2, 3, or 4 installments, while for others, a single payment is mandatory.
How will I receive the policy?You can sign the policy with a free qualified electronic signature or on paper through a courier service. If you sign electronically, you will receive the policy by email.
When does the online arranged insurance take effect?You choose the start date from which the policy takes effect, but keep in mind that the selected date should not be earlier than 00:00 on the day following its conclusion, i.e., if you arrange liability insurance today, it will take effect no earlier than tomorrow.
What is the model of pension insurance in Bulgaria?In 2000, Bulgaria underwent a pension insurance reform and introduced the so-called three-pillar model:
The State Social Security (SSS) is built on a pay-as-you-go (solidarity) principle and is managed by the National Social Security Institute (NSSI). With the contributions of the employed individuals, allocated to the "Pensions" fund of the NSSI, pensions are paid to current retirees. This insurance is mandatory and covers the entire working population of the country.
The Mandatory Additional Pension Insurance (MAPI) is built on a capital-based principle. The funds of each insured person accumulate in their individual account, based on which their future pension is calculated. The Mandatory Additional Pension Insurance is carried out by private pension insurance companies through the universal and professional pension funds they manage. Participation in both funds is mandatory.
The Voluntary Additional Pension Insurance (VAPI) is also based on a capital-based principle. Here, too, the funds of each insured person accumulate in their individual account, based on which their future pension is calculated. The voluntary pension funds and the voluntary pension funds under professional schemes are managed by the same pension insurance companies as in the case of the Mandatory Additional Pension Insurance. Participation in voluntary pension funds is not mandatory and they provide for the receipt of an early retirement, disability, and inheritance pension.
What are the reasons for conducting pension reform?The main reasons for pension reform and the change in the pension model are the low incomes of the population and the deepening demographic problem, which are directly related to pension insurance and the inability of the old pension system to function normally and provide the necessary replacement pension income to the population at retirement age. The decreasing number of individuals contributing to the pay-as-you-go system and the increasing number of those receiving pensions, in turn, lead to high insurance contributions, low pension amounts, and a constant need to cover the deficit in public social security through transfers from the state budget.
What is the aim of introducing the new pension model?The introduction of capital schemes in the country's social security system aims to increase pension incomes, relieve the burden on the first pillar (SSS) at the expense of the second pillar (MAPI). This way, each insured person directly influences their pension income upon reaching retirement age.
With the introduction of the three-pillar model of pension insurance, the aim is for insured individuals to receive a pension income upon reaching retirement age equivalent to 70 - 75% of their last wage before retirement, which is an internationally recognized standard ensuring the maintenance of living standards in old age.
How does the transfer of funds affect the amount of the pension?When transferring funds from UPF to SSS, the pension from NSSI is calculated with a full/unreduced earnings base.
How does the size of the transferred funds affect the pension granted?When calculating the pension from NSSI, the size of the transferred amount from UPF is not taken into account. For example, if the pension is reduced by 40 EUR, upon transfer of funds from UPF (e.g., 100 EUR, 200 EUR, or 2,500 EUR - the full amount of the party in UPF), after recalculation, the pension will be increased by 40 EUR.
Under what conditions the transfer doesn’t affect the size of the pension?If the calculated pension amount from NSSI is 112 EUR and is lower than the minimum pension amount for self-insured persons for 2021 (153 EUR), as the person will again receive the minimum amount of 153 EUR after the transfer. Similarly, if the calculated pension amount from NSSI is 793 EUR, it is higher than the ceiling for pensions for self-insured persons for 2021 (736 EUR), the person will again receive the ceiling of 736 EUR as before the transfer.
What amount should one have made to receive a one-time payment?It is envisaged that for accumulated amounts up to 460 EUR (three times the minimum pension amount for self-insured persons for 2021), the funds will be paid out as a lump sum.
What is the maximum amount of the monthly payment for deferral?Upon reaching the age specified in Art. 68 (1), in cases where the accumulated amount does not allow for the release of a pension, the funds will be paid out in installments if this amount is over 460 EUR and the calculated payment is: