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Problem no. 3: Inconsistency of Deutsche Bank procedures of foreign currency loans handling


The biggest inconsistency of procedures in Deutsche Bank is the conversion of the loan currency from CHF to PLN. In our case the following path was executed:
  • upon application for the loan in 2009, we were informed that there is a risk of currency exchange rate changing by maximum 20% ;
  • after applying for the loan, the bank determined that the loan can be safely granted to us. In 2009 banks in poland had directives from Financial Control Office that before approval of application for a CHF denominated and granting the loan, the lender has to check that the loan will be safe for the client when both the exchange rates go up by 20% and the interest rate goes up to 8%.
  • when in 2015 we were interested in changing the loan currency from CHF to PLN, we were subjected to double check that we can afford loan repayment after conversion - but, of course, our financial standing was different than in 2009: we had a kid and i had a break from my employment (or just I was unemployed at that time). The bank's decision as to whether or not allow the conversion was based on many factors: the monthly income, the number of kids, the expenses on the car, other financial loans, current employment period (if i or my wife had changed jobs within last six months the income would not have been taken into account), and - the most outrageous factors - the banks policy of loans and other internal procedures. In our opinion it was a very unfair behaviour. Of course, when the bank lent us money - we were a childless couple then - they shoudl have predicted that sooner or later some kids can appear in our lives. Moreover, we had never been acquianted with internal bank's procedures and the bank's policy of loans, which played a significant part in the process of changing of loan currency.

  • It turned out that , in order to change the loan from unsafe to a safer one, we had to have much better income as compared to the time of the application for the loan.
    About this we had not been informed before signing the contract.




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    Contents / Spis tresci

    Trick no. 1 : Mortgage loan selling procedure
    Trick no. 2 : The spreads
    Trick no. 3 : Contract repairment
    Trick no. 4 : Convertion of loan currency
    Trick no. 5 : Conversion of variable interest rate to fixed interest rate
    Problem no. 1: What should be done
    Problem no. 2: A very important question to finance specialists in poland
    Problem no. 3: Inconsistency of Deutsche Bank procedures of foreign currency loans handling
    Problem no. 4: Calculations before granting a CHF denominated loan
    [2021-07-14] One more inquiry about the balance clause in the annex
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