The Annual Percentage Rate of Charge (APR) represents the total cost of a loan expressed as an annual percentage of the total loan amount. It includes the nominal interest rate together with all mandatory costs relating to obtaining the loan — arrangement fees, the cost of mandatory borrower insurance where applicable, and any other cost whose payment is a condition for granting the loan. The APR is the benchmark indicator for objectively comparing the cost of different loan offers.
In accordance with applicable Portuguese law, the APR may not exceed the usury rate set quarterly by the Banco de Portugal for each category of consumer credit and published in the Official Gazette. Sodefina undertakes never to offer a loan whose APR would exceed this regulatory ceiling, regardless of the customer's situation.
The rates shown on our site are indicative. The final APR applicable to your loan will be communicated to you in the Standard European Consumer Credit Information (SECCI) sheet given before any subscription, and in the specific conditions of your credit agreement.
In accordance with applicable Portuguese law, any advertisement for a consumer loan must include a representative example. The examples presented on our site are calculated on the basis of the fixed APR applicable to the median borrower profile and excluding optional insurance.
Personal loan — Representative example: For a personal loan of €10,000 repayable in 48 monthly instalments, fixed APR of 4.20%, total amount payable of €11,193.60, monthly instalments of €233.20. Arrangement fees: variable depending on amount and term, provided before subscription.
Car loan — Representative example: For a car loan of €15,000 repayable in 60 monthly instalments, fixed APR of 4.20%, total amount payable of €17,226, monthly instalments of €287.10. Arrangement fees: variable depending on amount and term, provided before subscription.
Home improvement loan — Representative example: For a home improvement loan of €20,000 repayable in 60 monthly instalments, fixed APR of 4.20%, total amount payable of €23,184, monthly instalments of €386.40. Arrangement fees: variable depending on amount and term, provided before subscription.
Borrower insurance is not legally mandatory for consumer loans, but it may be strongly recommended depending on your personal situation, protecting you and your loved ones against events that could affect your ability to repay. It is optional and is not a condition for granting credit, unless explicitly stated otherwise in your offer — you are free to take out insurance with the insurer of your choice, provided the level of cover is equivalent.
Depending on the option chosen, the borrower insurance offered by Sodefina may cover death, total and irreversible loss of autonomy, temporary incapacity for work and loss of employment. Details of the cover, exclusions and waiting periods are set out in the information notice provided before subscription.
The group insurance contracts offered by Sodefina are taken out with a partner insurer governed by the applicable insurance law. Sodefina S.A. acts as an insurance intermediary, registered with the ASF (Autoridade de Supervisão de Seguros e Fundos de Pensões), the Portuguese insurance supervisory authority.
In accordance with Portuguese Law No. 75/2021 of 18 November 2021, which strengthens the fight against discrimination in access to credit and insurance, people presenting an aggravated health risk can access adapted borrower insurance via a reference grid, under the auspices of the competent Portuguese authorities for insurance and health conventions. People who have had or currently have a medical condition may also benefit from the right to be forgotten provided for by this legislation, allowing them to access insurance without an increased premium or exclusion of cover linked to that condition, subject to certain conditions.
In accordance with applicable Portuguese law, you have a withdrawal period of 14 calendar days from the signing of your credit agreement to exercise your right of withdrawal, without having to give reasons or pay penalties.
The withdrawal form is systematically attached to your credit agreement. To exercise your right of withdrawal, it must be duly completed, dated and signed, then returned to the address indicated on the form, before the 14-day period expires.
If you have used the funds before exercising your right of withdrawal, you must repay the capital used together with the interest accrued between the date the funds were released and the date of repayment, calculated on the basis of the agreed debit rate. No other compensation may be claimed from you. In the event of withdrawal from a linked loan (loan linked to the purchase of a good or service), the linked sales or service contract is automatically cancelled, in accordance with applicable Portuguese law.
The Central de Responsabilidades de Crédito (CRC), managed by the Banco de Portugal, lists characterised incidents of repayment of loans granted to individuals for non-professional purposes, as well as over-indebtedness situations. Consulting this register is mandatory before any credit is granted by a Portuguese institution.
In accordance with applicable Portuguese law, any natural person may obtain, free of charge, the information concerning them held in the CRC file, from any branch of the Banco de Portugal. In the event of an error, a request for correction may be sent to the Banco de Portugal or to the institution that reported the incident.
In the event of an unresolved dispute with our services after exhausting internal remedies, you may refer the matter free of charge to the mediator designated by Sodefina:
Tânia Silva Coelho
Portugal
www.livroreclamacoes.pt
Mediation is free for the consumer and constitutes a means of amicable dispute resolution. Recourse to mediation is possible throughout the duration of your contract and for 5 years following its end. It does not deprive you of your right to refer the matter to the competent courts if mediation does not lead to a satisfactory solution.
All our consumer credit operations are governed by Decreto-Lei n.º 133/2009, which transposes into Portuguese law European Directive 2008/48/EC on credit agreements for consumers. This legislation sets out all our obligations regarding information, verification and transparency.
Before any contract is signed, you receive a SECCI, a document standardised at European level that summarises the essential characteristics of your offer: amount, term, APR, total cost of credit, monthly instalments and early repayment conditions. This document allows you to objectively compare our offer with that of other institutions.
Any advertisement relating to a consumer credit offer must include a representative example of the applicable APR, as well as the legal notice reminding that a loan is a commitment and must be repaid, in accordance with the transparency requirements imposed by Portuguese regulations.
Before granting any credit, Sodefina carries out an assessment of the applicant's creditworthiness, based on the information they provide and, where applicable, on consultation of the credit incidents register (CRC) held by the Banco de Portugal. This check aims to prevent over-indebtedness and ensure responsible lending.
You may at any time repay early, in whole or in part, the outstanding capital of your loan, without having to justify a reason. This right is guaranteed by the Portuguese regulations applicable to consumer credit.
In the event of early repayment, compensation may be owed to Sodefina, capped at the lower of 6 months' interest and 3% of the capital repaid early, in accordance with Decreto-Lei n.º 133/2009. This compensation is not due when the early repayment results from an insurance contract intended to guarantee repayment of the credit.
In the event of non-payment of one or more instalments, Sodefina sends you a formal notice before any incident is reported to the CRC file. Late payment penalties may be applied, within the limits set by applicable regulations, without prejudice to seeking an amicable solution.
If you encounter difficulties in meeting your instalments, we invite you to contact our customer service without delay: an adjustment to your repayment arrangements (deferral of an instalment, rescheduling of the term) may be considered before any incident is reported.
Your credit agreement includes a set of mandatory information: identity of the parties, amount and term of the credit, APR, amortisation schedule, early repayment arrangements, termination conditions, and contact details of the competent consumer mediator.
Any material amendment to the conditions of your credit agreement (rate, term, amount of instalments) requires your express agreement, formalised by an amendment. Sodefina may not unilaterally amend the essential conditions of your credit while it is being performed.
In the event of disagreement over the application of the rules described on this page (calculation of the APR, early repayment compensation, processing in the CRC file), you may send a complaint to Sodefina, then, where applicable, refer the matter to our consumer mediator.
Can the APR change after the contract is signed? No, for a fixed-rate loan, the APR remains unchanged throughout the term of the contract.
Can I decline the borrower insurance offered? Yes, it is optional unless explicitly stated otherwise.
How much does consulting the CRC file cost? This consultation is entirely free for the consumer.
Is the usury rate the same for all types of credit? No, it is set quarterly by the Banco de Portugal separately for each category of consumer credit.
For any question relating to the legal information presented on this page, our customer service is available via our contact form, and our Banco de Portugal supervision page details the full regulatory framework under which we operate.
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Personal loan of 5,000 €
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(1) Excluding optional insurance. Indicative simulation. Subject to acceptance. Indicative fixed APR. Credit is a commitment and must be repaid. Check your repayment capacity before taking out a loan.
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Personal loan of 5,000 €
The optional monthly insurance premium is 0.70% of the outstanding balance. The first premium is the highest. Check your eligibility.