Banking, in plain language.
Understand loans, cards and savings with practical examples for Albania. Find the details you need before comparing offers.
START WITH YOUR QUESTION
What would you like to understand?
17 guides with explanations, worked examples and questions to ask your bank.
Before you borrow
From budgets and documents to home-buying and business finance.
What to check in a home loan
The monthly payment is only one part of a home-buying budget.
- The cash contribution also depends on the bank valuation.
- Budget for purchase costs as well as repayments.
How to move your mortgage to another bank
The steps, documents and costs of switching a mortgage, with an example showing when a lower payment saves money and when it does not.
- The new bank must approve your loan and property.
- Match currency and remaining term, and add switching costs.
Match business finance to its purpose
Everyday liquidity and long-term investment call for different questions.
- Match borrowing duration to when the business collects cash.
- Separate stock funding from equipment or property investment.
Personal loans: from repayments to total cost
Choose an amount and term, understand fees and prepare to approach a bank.
- Affordability starts with your budget, not the bank’s maximum.
- A longer term may increase the total borrowing cost.
Personal loan or instalment purchase?
Compare ways to finance the same purchase: the amount received, monthly payments and total cost.
- Compare the same amount, currency and repayment end date.
- Check both the upfront purchase price and the instalment price.
Should you combine several debts into one loan?
One payment can simplify budgeting. Check whether it also reduces costs, extends repayment or requires property as security.
- A lower payment may come from a much longer term.
- Compare costs remaining from today onward.
Repay early or refinance with another bank?
Compare remaining debt, exit costs and a new offer without relying only on the monthly payment.
- Request a settlement figure for a specific date.
- Compare remaining term, not only the new payment.
Documents to prepare for a loan
A practical checklist for income, property and the offer to obtain before signing.
- Get the bank’s checklist for your income source.
- Check the validity and accepted format of each document.
Collateral, guarantors and property security
Understand what secures a loan, how property is valued and what to check before supporting a relative’s borrowing.
- Collateral secures a loan; it does not replace income.
- Guarantors, security providers and co-borrowers have different roles.
Understand rates and costs
APR, borrowing currency and salary-linked terms.
APR and the nominal rate: what is the difference?
The nominal rate determines the interest on a loan. APR helps compare its cost by also accounting for the fees and charges included in the calculation.
- The nominal rate calculates interest; APR also reflects included costs.
- Match the amount, currency, term and salary conditions.
Borrowing in lek or euros: why payments change
Separate interest-rate changes from exchange-rate changes and understand the loan’s pricing formula.
- Exchange and interest rates affect payments in different ways.
- Check when the fixed-rate period ends.
Should you move your salary to the lending bank?
Compare a salary-linked discount with the conditions and account costs that accompany it.
- Ask exactly what qualifies as salary transfer.
- Compare savings with additional package charges.
Cards and everyday payments
How cards work and how to work out day-to-day charges.
Credit or debit card?
The main difference is whether you spend your own money or borrow against a credit limit.
- Debit uses your money; credit uses borrowed money.
- Interest-free treatment depends on conditions and statement repayment.
How to choose a credit card
Start with how you will use the card: everyday purchases, instalments or travel. Then compare interest, fees and repayment conditions.
- Choose a limit you can repay from your income.
- Compare the annual fee alongside interest and usage charges.
Your card statement: what to pay and when
Understand the statement balance, minimum payment and due date. See how a higher monthly payment changes repayment time and cost.
- The minimum payment does not clear the card debt.
- Your monthly statement and current app balance can differ.
How to compare bank accounts
Choose around your usual transactions, not just the opening fee.
- Compare the cost of the transactions you actually make.
- Check account, card and transfer charges separately.
Savings and deposits
Interest earned, access to your money and deposit insurance.
Put the explanations into numbers
Use the calculators to explore repayments, terms and costs. Each result follows the assumptions you enter.
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