When is refinancing worth it?
Refinancing means closing one or more existing loans with a new loan, usually at a lower rate or longer term, to reduce the monthly payment. Consolidation combines several debts into one.
It's worth it if you get a lower APR than the average of your current loans, or if you want a single payment. Compare the total cost, not just the monthly payment.
- ✓Combine several loans into one payment
- ✓Possibly a lower rate than your current loans
- ✓Amounts from 10,000 to 200,000 lei
- ✓Extended terms for a lower payment
How Kreditano compares loan offers
All offers on Kreditano are sorted by ascending APR by default — the cheapest offer appears first. According to the National Bank of Romania, this is the fairest way to compare two loans, because APR includes not just the nominal interest rate but all mandatory fees: origination fee, monthly admin fee, mandatory insurance costs, and other recurring charges.
Two lenders with the same 9% nominal rate can have very different total costs because of these fees. On Kreditano you see APR alongside the estimated monthly payment for your chosen amount and term, plus the total cost — how many lei you pay in total by the end of the loan. In practice, total cost is the most relevant indicator when deciding between two similar offers.
No lender can pay to appear higher in the list. The displayed order is algorithmic (lowest APR first) and identical for every visitor. The only exception is when we explicitly tag an offer as "sponsored" or "partnership" — in that case the label appears visibly above the card.
What APR means and why it matters more than interest
APR (Annual Percentage Rate) is the EU-standardized indicator showing a loan's total annual cost as a percentage. Unlike the nominal interest rate (which is just one component), APR includes all mandatory payments: application fee, admin fee, the cost of mandatory life insurance (if required), and regularly charged taxes.
Example: a 10,000 lei loan over 24 months with 8% nominal interest and a 0.3% monthly admin fee may have an APR close to 12%. Another loan of the same amount with 9% interest but no monthly fees may have an APR of 9.5%. Even though the second has a higher nominal rate, it is actually cheaper.
For variable-rate loans, the APR shown at the offer date is calculated using the current index (usually IRCC or ROBOR). If the index moves during the loan, the rate — and therefore the effective APR — adjusts automatically. For fixed-rate loans, the APR stays the same regardless of market movement.
Real costs beyond APR
APR covers mandatory costs, but other optional or occasional costs matter too: the early-repayment fee (capped by law, but varies by lender — zero on variable-rate loans), restructuring fees if you face difficulty, contract-modification fees if you change the rate or term, and add-on services like attached credit cards or extended insurance bundles.
Life and unemployment insurance are often optional even though lenders push them as mandatory. Ask explicitly if they can be removed; if so, the APR calculated without them will be lower and the loan effectively cheaper. The National Bank of Romania requires these options to be clearly separated from mandatory costs.
For credit cards, the biggest hidden cost is the grace period: if you pay the full balance by the due date, you pay no interest. If you pay only the minimum, interest applies to the entire balance and the cost becomes significant — sometimes equivalent to an APR of 25–30%+.
How an application affects your Credit Bureau score
Simply comparing offers on Kreditano leaves no mark at the Credit Bureau. There is no inquiry, no score change. Your data is not transmitted anywhere at this stage.
A Credit Bureau inquiry only happens when you actually apply with a lender — that is, when you fill out the application form of the chosen bank or non-bank lender. This is a "hard inquiry" with a slight, temporary impact (usually minus a few points for a few months). If you apply for multiple loans within a short window (14–30 days, depending on the lender), the Credit Bureau may treat them as a single inquiry for the same loan type — by design, to encourage comparison.
Payment history matters most. Paying installments on time raises your score monthly; a single delay over 30 days drops your score significantly and stays on file for years. Before applying for a new loan, make sure you have no active delays and that your debt-to-income ratio doesn't exceed 40% (the National Bank of Romania's regulated maximum for most lei-denominated loans).
Your consumer rights in Romania
The Romanian consumer credit law (OG 50/2010, transposing EU Directive 2008/48/EC) guarantees you clear rights. Before signing, the lender must provide the European Standard Information Sheet (ESIS), which contains all essential data: APR, interest rate, amount, term, monthly payment, total cost, fees, and the consequences of non-payment. You have the right to take this sheet home and compare it with other offers before deciding.
You have a 14-calendar-day right of withdrawal without penalty from contract signing. During this window you can cancel the loan without explanation; you only need to return the principal plus interest calculated for the actual days. You also have the right to early repayment at any time; for variable-rate loans the fee is zero, and for fixed-rate loans it is capped by law (max 1% or 0.5% depending on remaining term).
If you have an issue with a lender, the first step is a written complaint to the lender. If you don't receive a satisfactory answer in 30 days, you can escalate to SAL-FIN (Alternative Dispute Resolution for the non-bank financial sector, salfin.ro) for IFN issues, or to ANPC (the National Consumer Protection Authority, anpc.ro) for pre-contractual information or commercial-practice issues. Both procedures are free.