The Standard European Consumer Credit Information (SECCI) is a mandatory document — defined by EU Directive 2008/48/EC and transposed into GEO 50/2010 — that any consumer lender must give you before contract signing. It uses an EU-standard format, so you can compare offers from different countries with the same template.
What's in SECCI
The document has 4 sections: the lender's identity, description of main features (amount, term, interest type), costs (APR, interest, fees, insurance) and your rights (withdrawal, early repayment).
The 6 essentials to check
1) APR — real yearly cost including all fees. Compare with other offers on this single number.
2) Total cost of credit — the total amount you will repay, including interest and fees.
3) Monthly payment — verify it matches your calculation and fits within your debt-to-income limit.
4) 14-day withdrawal right — you can cancel the contract within 14 calendar days of signing, no reason needed, no penalty.
5) Early-repayment fee — max 1% if more than 12 months remain, 0.5% if less, under GEO 50/2010.
6) Required insurance — check whether life or unemployment insurance is mandatory. If so, its cost is already in the APR.
If the lender refuses to give you SECCI or rushes you to sign without reading it, that's a red flag. File a complaint with ANPC.