The “Borrow Wisely” campaign is an international campaign that is directed to actual and potential clients of Fondi Besa. The campaign is organized by Microfinance Centre – an international organization that promotes international standards in the field of client protection and financial education. The campaign is held at 14 states including: Albania, Armenia, Azerbaijan, Bosnia & Herzegovina, Georgia, Kosovo, Bulgaria, Moldova, North Macedonia, Montenegro, Serbia, Romania, Greece and Tajikistan.

How much can I afford to borrow?

• Learn to calculate accurately your monthly savings.

• Monthly loan repayments should not exceed 70% of your monthly savings.

E.g. If Income = 1000 and Expenses = 800 then Savings = 200. Monthly repayments = 140 max

• Take a loan in the same currency as your income.

• Fondi Besa will also assess your capacity to pay to ensure you can afford the loan.

Do I know how much I will pay?

• Learn how to compare different offers to make an informed choice.

• It is a everyone right to ask information about loan costs.

• Remember, a lower interest rate does not guarantee a cheaper loan.

• Ensure you include all costs and charges when calculating your monthly repayments, not just interest payments.

• Beware of aggressive lenders – special offers are seldom special.

• Carefully analyze the length of the loan – lower payments over a longer period may not work out cheaper.

• Fondi Besa discloses all charges including arrangement fees and penalties – not all loan providers do.

Do I fully understand the contract?

• Read the contract from beginning to end/ Your loan officer should give you enough time for this. Understand the costs, penalties, timings and mechanics of payments

• Ask your loan officer for help to understand every point. Always ask for clarification of professional/financial jargon used in the contracts (e.g. ask for explanation of terms like: APR, annuity method, nominal rate, prepayment commission etc.)

• Take your time – take it home and consider – don’t be rushed into signing something you don’t understand

What should I do if I need to complain?

• Please tell us if you are not satisfied.

• Always execute your right to complain.

• In case you need to complain, please contact the credit officer, the branch director, send an email or call in the toll free number which is in the contract. You can also fill the complain form that you will find in our offices and send it by post or you may write in the section Complains in Fondi Besa webpage.

• Your opinion helps us provide a better service for our customers!

Control debt – don’t let it control you!

• Too much debt can lead to problems with repayment.

• Avoid multiple loans: with several loans you are at greater risk of over indebtedness.

• Take loans for investments, avoid taking loans for things you desire but don’t need.

• Care about your credit history the records are there forever. Don’t take out a loan for someone else.

• Be careful about being a guarantor for someone else’s loan.

• Talk to your loan officer if you are in trouble we are here to help.

Pursuant the concern of Fondi Besa about the client protection, this year we joined the international educational campaign “Borrow Wisely”.

Please find below the video on the campaign “Borrow Wisely”: