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Monday, November 20, 2006 :: MOITE PARI – Financial Website of the Audience in 2006!!!

On the 17th of November, MOITE PARI won for the second consecutive time the Bulgarian Web Association's prestigious "Financial Website of the Audience" award for 2006. We feel proud for winning the public recognition and promise to all our consumers to continue developing our website. We have new additions and enhancements coming next month! Owing to all of you, our customers, we won this prestigious award for the second successive time- thank you for your recognition and trust.

 
Monday, November 06, 2006 :: The first credit guide portal launches in Turkey

The first credit comparison portal – www.finzoom.com.tr, that brings all banks to one place is now online in Turkey

November 6, 2006 – Istanbul - FinZoom Turkey, www.finzoom.com.tr is the consumer finance portal which informs consumers about all home loans, consumer loans and auto loans offers on the market. FinZoom Turkey is part of the The FinZoom Financial Guide® Network www.FinZoom.com, which successfully operates the leading comparison portals in Romania (finzoom.ro), and Bulgaria (www.moitepari.bg). In the next few months comparison for new product categories, such as credit cards and deposits will be added to the site. FinZoom visitors can search all bank offers and get complete, accurate and unbiased product information freely on the site. People who seek loans don’t need to spend time anymore going from bank to bank in search for the best offer. They can view and compare all rates and loan terms through FinZoom’s objective, clear and up-to-date comparison tables.

FinZoom is working with all interested banks to provide APPLY buttons next to banks’ offers so our visitors can apply for a loan directly on www.finzoom.com.tr. FinZoom is launching with Garanti bank application form, but plans to add other banks’ application forms shortly. Although there is no apply button for non-partner banks, you can still see all of their current offers in same result tables.

WHY DO CONSUMERS VISIT
www.finzoom.com.tr?

They always get FREE detailed constantly-updated information about consumer loans, home loans and auto loans offers of all active banks in Turkey.

They can see and compare rates, total costs and other details for each related product. FinZoom also dynamically calculates and displays the real loan cost - , Annual Percentage Rate (APR) for each loan offers. APR is a new concept on the Turkish market, but is widely used in USA and Western Europe.

There is also a APR calculator on the FinZoom site.

FinZoom Turkey will also partner with media to provide them comparison tables and periodic consumer finance articles and analyses.  


Friday, October 27, 2006 :: FinZoom at the National Real Estate Fair

FinZoom achieved a new success by the “live” demonstrations performed during “The National Real Estate Fair”

After only a few days from being a major part of the “Real Bucharest Fair” (especially for the real estate and mortgage loans consumers that found out about the existence of this free of charge and specialized consultancy in Romania), the www.finzoom.ro team packed things up for a new session of informing the interested ones in the finance sources available for the real estate area (and much more). This time we settled the meeting at “The National Real Estate Fair” inside World Trade Plaza Bucharest.

Again, www.finzoom.ro captured the attention of everybody present there: didn’t have something to sell , didn’t ask for contact details, much less for them to fill in endless forms with membership criteria, didn’t ask for financial consultancy payment; instead of it we demonstrated that: www.finzoom.ro calculates personalized APR for each loan request, www.finzoom.ro analyzes all the offers from all the Banks in Romania (we don’t give special treatment to any of them); also, each time we are asked about our payment sources we give straight answers without any kind of hesitation because we consider that this is a legitimate question; and the list could go on…

All those present at “The National Real Estate Fair” agreed on the fact that www.finzoom.ro is playing an essential role in providing a transparent and competitive environment for the banking and non-banking products available in Romania. Also, they agreed that www.finzoom.ro, by the services provided, is helping the consumers to save time and money and take the right decision regarding their personal finance.

Also, the www.finzoom.ro team took the time and discussed with the representatives of the real estate companies the “common grounds”. Further more, www.finzoom.ro taught them to use online comparison for giving their clients complete, objective and efficient services. We thank all the companies present at The National Real Estate Fair” for their open minded attitude towards www.finzoom.ro and making partnerships which will solve/simplify the clients’ “must do” list without additional costs.

Next week www.finzoom.ro is preparing a major surprise. Watch out for “The Recent News” section on www.finzoom.ro and you’ll find out all about it.


Monday, August 21, 2006 :: Leading Eastern European Consumer Finance Portal Launches in Romania

Site First to Compare Truly Dynamic APR Calculations Personalized for Each Unique Search

FinZoom Financial Services®, a member of the FinZoom Financial Guide Network, today launched www.finzoom.ro in Romania. The new website offers comprehensive, accurate information about all loans currently available on the market in Romania (194 consumer/personal needs loans, 154 mortgage loans and 100 auto loans/leasing offers). All information is easily-searchable and updated daily, designed to empower consumers to make the best decision, save them time, and reduce the stress involved with applying for a loan.

FinZoom’s distinct advantage lies in its dynamic calculation of Annual Percentage Rates (APR), which represents the complete cost of a credit and the most objective measure for comparison. The robust, flexible software powering the Finzoom portal matches each consumer’s individual search criteria (loan type, amount, term length) with the unique requirements, fees and conditions from every bank offer in our database, calculating APRs that are identical to those calculated within the banks. The result is a highly accurate, targeted and relevant comparison table from which the consumer can apply directly.

Finzoom.ro additionally displays a detailed repayment plan for each loan, including the monthly payment (principal and interest), all the commissions paid (initial, monthly or annual) and total amount repaid over the entire loan term. Other unique features include:

• Comprehensive offer details
• Dynamic APR calculator
• Consumer-focused advice articles published regularly
• Extensive glossary of relevant financial terms

“We bring a superior online comparison service to the market in terms of accuracy and breadth of information,” says FinZoom Director Irina Chitu. “We hope that all consumers in need of a loan, information or advice will come first to www.finzoom.ro to compare all offers, educate themselves and decide with confidence on the offer(s) that best suit their needs. And we want them to remain on our site to apply for the offer, which they can initiate directly from the comparison tables.”

The FinZoom Financial Guide Network (www.finzoom.com) already successfully operates in Bulgaria (www.moitepari.bg and www.creditland.bg) and will launch soon in Turkey (www.finzoom.com.tr). In the coming months FinZoom.ro will continue to add new product categories for comparison, including credit cards, deposits, investment funds, small business loans, and insurance.


Friday, June 23, 2006 :: The first Index on the average Annual Percentage Rate on Mortgage loans starts in Bulgaria

For the first time the customer can see on www.moitepari.bg what is the real average market price of Mortgage loans as well as the trends in changes in conditions on credits

In the calculation of the average market price of Mortgage loans, the market shares of the 15 leading banks (that hold a market share of 98.72% in the Mortgage loans in leva in Bulgaria) are taken into account. My Money uses the Annual Percentage Rate (APR) of the best standard offer in leva for every bank participating in the Index. APR is the only objective criteria that include not only the interest rate announced but also all taxes and commissions covered by the customer. According to the calculations made by My Money, the average value of APR on Mortgage loans in leva in May is 8.02%.

The customers had no chance so far to see the change in the average price of Mortgage loans in Bulgaria that could help them orientate in the trends and in the real price of the credit. However, this has changed with the launch of the first APR Index on Mortgage loans that can help assess bank offers for mortgage loans. And this is one of the most important financial decisions in everyone’s life.

It should be taken into account that APR calculation for Mortgage loans uses the same methodology as the one included in the Consumer Finance Law which adds in the calculations all expenses, commissions and taxes related to the credit. In the APR calculation it is assumed that the credit is reimbursed regularly during the entire period and that interest rate remains the same in the course of the period.

The Index My Money reveals a clear trend for decrease of APR on Mortgage loans – from 11.10% in September 2005 to 8.02% in May 2006. That is, if we take 20-year mortgage loan of 50 000 leva and property value of 80 000 leva, the customer would pay on average a total of 99522.46 leva with a monthly installment of 366.63 now, while 9 months ago the total sum paid would be 120124.71 leva and the monthly installment - 469.34 leva. The drop of the Index is due to the more intensive competition between banks and the starting process of smooth harmonization with West-European interest rate levels.

On www.moitepari.bg you can use a user-friendly credit calculator that can help you calculate APR on specific credit offers.

My Money is the Bulgarian Financial Guide whose mission is to help customers seek and find the best financial products on the market. My Money compares impartially all actual offers for Automobile credits and leasing, Consumer loans, Credit cards and Deposits. In the following months we will continue to add new product categories (goods leasing, stock exchange investments, business credits, and other).
 
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